Agriculture under NDA: Of surplus, subdued prices, MSP boost and stress

While steps to improve production depressed prices, loan waivers have had the impact of stifling farm credit growth

Farmers in India have had a very peculiar journey under the five years of the current government. The matrix of some key indicators in the last five to seven years shows that the outcome has been mixed, with production touching record highs, while prices at record lows, much to their detriment. Most cultivators in the country faced consecutive droughts in the first two years, due to which production remained stagnant, and prices remained elevated or normal.

Faced with this situation, the government ramped up its support to the farm sector through budgetary and policy measures, but the results observed were