Unlocking Full Economic Potential of Agriculture Sector in Punjab: Policy Options
Keywords:Economic potential, Agriculture sector, Punjab, Policy options
In order to unlock the full economic potential of agriculture sector in Punjab, there is need to identify, map and prioritize the challenges and constraints faced by agriculture. The key challenges and constraints in the agricultural value chain from production to consumption include productivity, financing and regulatory. The policy initiatives are called to boost agricultural productivity, reduce post-harvest losses and expand market access. There is need for private investment in agribusiness value chain to lower cost of financing and increased agro-financing measured in terms of cost of capital (%) paid, number of loans and credit provision, private capital formation and number of participants. Private investment is essential for storage, processing, marketing and trade, and infrastructure. It is essential to develop and launch agro-entrepreneurship platforms for youth and women to enter agribusiness economy by facilitating investment support, training, and capacity building. The database for rural infrastructure planning is required to be revitalized for robust agriculture policy and planning. Climate smart agriculture calls for developing technical, policy and investment conditions to achieve sustainable agricultural development by sustainably increasing agricultural productivity and incomes, adapting and building resilience to climate change and reducing and/or removing greenhouse gases emissions.
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