Investment and Subsidies in Indian Agriculture

Raghbendra Jha

ASARC Working Papers from The Australian National University, Australia South Asia Research Centre

Abstract: One of the principal elements of the economic reforms program initiated in 1991 was to reduce the fiscal deficit of the central government which, at that time, faced a solvency crisis. This reduction was at least partially achieved by reducing transfers to state governments. As a result, state government budgets faced crises and agriculture, being largely a state subject, was denied adequate investment. This paper reviews the performance of Indian agriculture, particularly in the post-reform period. It attributes this lacklustre performance to the stagnation of agricultural investment whereas there has been a contemporaneous rise in agricultural subsidies. Thus while current operations are being subsidised to some extent resource for augmentation of productive capacity in agriculture are dwindling.

Pages: 10
Date: 2007
New Economics Papers: this item is included in nep-agr, nep-cwa and nep-pbe
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:pas:asarcc:2007-03

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