Sustainable Income Generation through Improved Agricultural Practices – Innovative Financial Advisors Pvt. Ltd.

Over the past few years the agricultural dependent population is increasing at very high rate. Despite the high growth rate in the last decade, development is yet to reach the far corners of the country. India a country with world’s largest number of poor people has a long history of rain fed agriculture dependency. Over the past three decades, the country has successfully transformed itself from a food deficit economy to one which is essentially self sufficient in availability of food grains and other essential commodities, albeit only at the prevailing level of effective demand. But, the problems with the sector still remains a concern, between 1970 and 2011, the GDP share of agriculture has fallen from 43 to 16%.
This isn’t because of reduced importance of agriculture, or a consequence of agricultural policy. This is largely because of the rapid economic growth in services, industrial output, and non-agricultural sectors in India in between 2000 to 2010. Comparing the average yield per hectare of the major agricultural crops it becomes very clear that, India has a long way to go to match up to the global standards. This is when 67% of the populations are living under $ 2 a day and India being the hunger capital of the world.
In the rural areas there is a huge dependency on agricultural activities for livelihood with majority of them engaged in Paddy cultivation. The major problem of agriculture is that it is seasonal and productivity depends mainly on monsoons. The lack of sustainable income generation activities in rural areas ensures that agricultural labourers migrate to nearby places for alternate livelihood opportunities. Low productivity and household consumption doesn’t leave much of a scope for revenue generation.
The situation is worse among the local communities who are not only agriculture dependent but also lacks the knowledge to engage themselves in alternate sustainable livelihood generation activities. Lack of education and skills is a bottle neck for socio-economic development of the vulnerable communities in the district. Migration for alternate livelihood opportunities is prominent among the community members. Lack of access to credit facilities and lack of linkages with various development organizations and market players doesn’t help in the development process of the region. The combination of these factors serves as a deterrent towards the community engaging in long term sustainable livelihood generation activities.
In order to address the situation, there is a need to increase agricultural productivity and develop improved irrigation facilities in the area to help curb the problem of migration. Lack of knowledge and other facts will ensure that the community members are hesitant in opting out of their traditional approach of livelihood. Therefore, it becomes crucial to communicate the benefits and encourage participation of the community members.
The issues of sustainable income generation and migration can be addressed through advanced agricultural skill development trainings to youth in the region. Access to income generation activities in the area will reduce the number of youth migrating for livelihood opportunities. Enhancement of skills among women will make them self dependent and increase household revenue. Establishment of linkages will help strengthen the value chain and ensure better access to credit facilities and financial services. Therefore, there is a need to urgently take up skill development initiatives in the area to help improve the socio-economic condition of the people.
Innovative Financial Advisors Pvt. Ltd. urges the Corporates in funding CSR projects in India for improved agriculture practices. Through their CSR Campaign across India, they can definitely increase the overall productivity of the country. Sustainability and CSR is crucial in today’s context and corporate houses cannot ignore them anymore. Innovative Financial Advisors Pvt. Ltd. complaints about the lack of complicity which is been shown towards agriculture in the country by the private companies. Therefore, it urges companies to work towards creation of better future for the people dependent on agriculture for their livelihood.

By Rahul Choudhury
Media Team – Innovative Financial Advisors Pvt. Ltd.

Phone: 011-42332200
Fax: 011-42332205
Email ID: [email protected]

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