According to the economic survey, the farm incomes will be dropped by 12% on an average in the coming years with potential losses amounting to 18% of the revenue. The method to prevent the effect are:
Fully irrigating Indian agriculture through technologies of drip irrigation, sprinklers, and water management—captured in the “more crop for every drop” campaign—may well hold the key to future Indian agriculture and hence should be accorded greater priority in resource allocation. Replacing power subsidy by direct benefit transfers will also help to conserve power and water. There is a need to embrace agricultural science and technology with renewed ardor. Agricultural research will be vital in increasing yields but also in increasing reliance to all the pathologies that climate change threatens to bring in its wake: extreme heat and precipitation, pests, and crop disease.
The cooperative federalism “technology” of the GST Council that brings together the Center and States could be promisingly deployed to further agricultural reforms and durably raise farmers’ incomes. Pradhan Mantri Fasal Bima Yojana – current crop insurance program. Weather-based models and technology (drones for example) need to be used to determine losses and compensate farmers within weeks. With above methods and greater spending on agriculture reforms can be a way forward to develop adaptation capability of agriculture.