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Our Bureau

Mumbai Aug. 29 The Reserve Bank of India (RBI) has suggested a comprehensive agriculture revamp programme as a policy initiative to shore up the stagnating agricultural productivity in India.

“Stagnation in productivity in agriculture on the one hand and growing incomes and changes in consumption patterns on the other have led to demand-supply mismatches in the case of major agricultural commodities,” the central bank pointed out in its Annual Report on Friday.

The factors that were stifling agricultural productivity included lack of yield growth, decline in agricultural investment, and rising input costs, especially fertilisers and fuel, according to RBI.

It feels that the comprehensive agricultural revamp programme should aim at developing area-specific high yielding varieties, especially for wheat and pulses. Food prices have hardened in India in recent times, but the increase in wholesale prices of various crops was of a much lower order in comparison with the increase in global food prices, it said.

More Stories on : RBI & Other Central Banks | Cultivation | Agriculture

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