There is a need for a viable “whole business” approach, covering all aspects of farming, to break farmers’ reliance on lenders, the Reserve Bank of India report said. on money and finance.
The report notes that farmers are still dependent on lenders.
“A comprehensive plan is needed to revive the country’s rural economy alongside many other existing policy measures.
“The organization of farmers’ clubs or agricultural cooperatives is a possible solution to correct price imbalances by reducing the gaps between farm gate and retail prices,” the report says.
In this regard, the development of a modern supply chain infrastructure requires priority attention.
The RCF suggested that the development of many small-scale irrigation projects, as well as the use of wind power to extract water from boreholes implemented in many West African countries , could be bred in drought-prone areas of India.
“India is one of the most vulnerable countries to extreme weather events in the world.
“According to the Indian Meteorological Department, the occurrence of extreme weather events like floods, cyclones, heat waves and droughts has increased in frequency and intensity,” RCF said.
Moreover, the average temperature increased by 1.8 degrees Celsius between 1997 and 2019 compared to an increase of 0.5 degrees Celsius between 1901 and 2000.
Similarly, groundwater level decline in Punjab, Haryana and Madhya Pradesh exceeded annual recharge levels.
April 29, 2022