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In the recent past, India has made rapid strides in milk production. Milk production is increasing at 1 per cent per annum in the world. While in India, it is increasing at more than 4 per cent. Dairying is one of the fastest growing enterprises in the country, achieving 7.4 per cent growth rate during 9th five year plan (All India Dairy Business Directory, 2001). Since demand for milk and milk product is income elastic, consumption can improve only when the income of producer increases along with increase in production.
Milk production, benefit-cost ratio, constraints