Doubling of Farmers’ Incomes by 2022 in India: Challenges and Opportunities

According to a survey conducted by NSSO in 2013, the average annual income of the farmers was about 6427, which was only 2115 in 2003. It should be noted that, among the total operational holdings, nearly 90 per cent are under small and marginal farmers who have less than 2 hectares of land. The study has revealed that, diversification of rural employment opportunities would improve small farmers’ income. The households should be imparted additional technical skills to prevent their dependence on a single enterprise. Households with small landholding size should invest more on productive assets like cattle, goats, sheep, farm machineries, etc. which would provide a sustainable source of income unlike farming which is highly uncertain. Thus, livestock can be the key driver for income growth. The farmers should concentrate on reducing their input cost, diversifying their sources of income by doing allied agricultural activities and non-farm business activities. In addition, government should develop proper marketing facilities for the farmers to increase producers’ share in consumers’ price.