Indian agriculture growth will witness moderate deceleration in the medium and long-term due to the lockdown to contain coronavirus, according to a NITI Aayog member.
There is a fear of serious overall price deflation in the non-agriculture sector, whereas the agriculture sector is likely to witness temporary episodes of price spikes at the consumer-level and price crashes at the producer-level, NITI Aayog’s Member Ramesh Chand observed in the paper titled, Covid-19 and Food System Risks in India.
— Ramesh Chand 🇮🇳 (@Ramesh_ChandDr) May 18, 2020
“Prolonged coronavirus disease will pose a huge threat to value chains and supply chains due to higher risks of disruption and cost,” he added.
However, he pointed out that it is heartening that agricultural activities and food supply have shown remarkable resilience in most countries amidst the COVID-19 pandemic.
It is to be noted that the central government extended the nationwide lockdown for two more weeks until May 31.
Dr. Ramesh Chand is an eminent agricultural economist. Dr. Chand has been actively involved in food and nutritional security related agricultural issues over the last three and half decades. Since 2015, he is a member of the policy think-tank NITI Aayog. He has also chaired several high level committees of the Indian government. In addition, the NITI Aayog member is also a part of the 15th Finance Commission.