Listing major risks relating to production, weather, crop prices, credit, and policy decisions, the Economic Survey said that to manage and reduce risks there is a need to categorize and address them. Listing major risks relating to production, weather, crop prices, credit and policy decisions, the Survey said that to manage and reduce risks there is a need to categorize and address them. A “Taxonomy of risks” in agriculture in the Survey detailed the risk factors and suggested ways to address them. To address market risks due to demand-supply dynamics in both domestic and international markets, the Survey suggested allowing contract farming and the direct purchase of produce from farmers. Gulati added that though the government has brought in new schemes to address price and production risks, these are marred by tardy implementation.

Source: Mint August 11, 2017 11:49 UTC