Decline in agricultural production is of concern as more than 50 per cent of the population living in rural areas depend on it, said C. Rangarajan, former Governor of the Reserve Bank of India.
Though agriculture contributed only 18 per cent to the national growth even a small shortfall in food production seriously upset the economy, he said, calling for a mechanism to control food inflation as in the last four years even a small shortfall in production had caused grave disruptions in the economy.
It required innovations, be it hybrid seeds or fertiliser use to bring about a quantum jump in productivity. With landholdings depleting and farm wages rising everyday, he said the challenge was how to reconcile to these problems.
He was speaking at a function to felicitate Member of Parliament M.S. Swaminathan who released a report on how he spent funds received under the Local Area Development Scheme. He praised Dr. Swaminathan on putting to good use the MPLADS funds and presenting a performance budget.
Dr. Swaminathan said under the scheme he had received Rs. 18 crore for a period of six years. Since he was a nominated MP he could use the funds to benefit sections of people across the country. A total of 74 projects were taken up across 10 States.
The funds were used to improve school infrastructure, develop community centres, libraries, build roads, check dams, bus shelters, and electrification of villages.
