Source: BS
Context
On 8 July 2026, Prof. S. Mahendra Dev, Chairman of the Economic Advisory Council to the Prime Minister (EAC-PM), delivered a keynote address at the Institute of Economic Growth (IEG). He emphasized that India’s agricultural problem can be solved by creating more non-farm employment opportunities in rural areas.
About EAC-PM
- Full Form: Economic Advisory Council to the Prime Minister
- Established (Present Form): 26 September 2017
- Nature:
- Non-Constitutional
- Non-Statutory
- Advisory Body
- Advice is not binding on the Prime Minister.
- Current Chairman: Prof. S. Mahendra Dev (since 5 June 2025)
Key Data (Important for NABARD)
- Agriculture contributes ~17% to India’s GDP.
- Agriculture employs ~43% of India’s workforce.
- Agriculture has grown at 4.5% annually over the last decade.
- 86% of Indian farmers are small and marginal farmers.
Major Recommendations
1. Structural Transformation
- Shift surplus labour from agriculture to rural non-farm sectors.
- Develop rural industries, MSMEs and services to increase farm incomes.
2. Income-Centric Agriculture
- Focus on farmer income, not just food production.
- Promote:
- High-value crops
- Horticulture
- Livestock
- Fisheries
- Agro-processing
- Better marketing infrastructure
3. Crop Diversification
- Reduce dependence on rice and wheat.
- Encourage cultivation of:
- Pulses
- Oilseeds
- Millets
4. Strengthen Farmer Institutions
- Promote:
- Farmer Producer Organisations (FPOs)
- Cooperatives
- Aggregation platforms
- Important because 86% of farmers own small landholdings.
5. Technology in Agriculture
- Use:
- AgriStack
- Artificial Intelligence (AI)
- Drones
- Biotechnology
- Satellite technology
- Gene Editing (allowed in India)
6. Export Policy
- Maintain a stable and predictable export policy.
- This will improve farmers’ income and India’s credibility in global markets.
