INCLUSIVE GRWOTH IN AGRICULTURE (Measurement and policy issues) V.

Venu Madhav
Associate Prof. Malla Reddy Institute of Management (MRIM)

Arya Pattnaik
Assistant Prof. MRIM

Abstract
A trajectory in the profitability of Indian agriculture has been surmised over the last six decades of planning, but scarcely have we reached the objectives. Agriculture being the backbone of rural economy of India with nearly 60% of dependent population showcases an abysmally low growth which is not only sarcastic but also obnoxious. Our Prime Minister Sri Manmohan Singh, has strongly identified a sharp increase in investment in rural areas, rural infrastructure and agriculture, spurt in credit for farmers, increase in rural employment through a unique social safety as the key components of inclusive growth strategy. A comprehensive study on inclusive growth enumerates the following five elements: 1. Poverty reduction and increasing quantity and quality of employment 2. Agricultural development 3. Social Sector Development 4. Reduction in regional disparities 5. Protecting the environment. The 11 th Five year plan poignantly emphasizes on inclusive growth in agriculture and subsequent growth of rural economies through better farming practices, risk mitigation and market orientation. This paper attempts to analyze the underlying factors to achieve inclusive growth in Agriculture. The factors can be enunciated as below: (a) price policy; (b) subsidies and investments; (c) land issues; (d) irrigation and water management (e) research and extension; (f) credit; (g) domestic market reforms and diversification. The paper primarily delves on the issues of irrigation & water management and credit scenario in rural economies with context to inclusive growth in agriculture. Measurement parameters and policy priorities have been suggested to enable the state to achieve inclusive growth.