Indian Economic Reforms And Their Impact On Agricultural Sector

Agriculture once known as the backbone of Indian Economy is at present at its worst, thanks to the anti farmer, pro-Industry policy of the various Indian Governments since 1991. India is once considered as the “Ann Data” of the entire world is struggling even to manage the own demand-supply problem of various agricultural commodities. The farmers are committing suicides, are celebrating “Crop Holidays” and are fighting with Govt. for illegal acquisition of land for developing Real estate or other commercially viable projects at the cost of Agriculture..It remains to be one of the largest employers, especially in the rural India, with more than 70% of rural population and 55% population involved in agriculture. It is the mainstay of the rural Indian economy around which socio-economic privileges and deprivations resolve, and any change in its structure is likely to have a corresponding impact on the existing pattern of social equality. No strategy of economic reform can succeed without sustained and broad based agricultural development which is critical for raising living standards, alleviating poverty, assuring food security, generating buoyant market for expansion of industry and services and making sustainable contribution to the national economic growth. As such, the economic reforms of 1991 had a large impact on the Indian agricultural sector. This paper will discuss the impact of Liberalization, Globalization and Privatization on the Indian Agriculture Sector.