A Study on the Need for Farm Management Practices in Indian Agriculture

Abstract

The importance of good farm management is growing not just in industrialised and commercialised farming but also in emerging and subsistence systems. A farm manager's knowledge of production methods, costs, and profits is essential. Even after 73 years of independence, more than half of India's population still works in agriculture. However, the industry is not contributing more to GDP and is really declining. The study's goal is to find out why farming is losing money and then recommend farm management strategies that can turn a profit. Secondary information was used for the analysis. Farm management's overarching goal is to increase farm profits through efficient business procedures. This is possible if the farmer pays attention to selecting high-quality seed varieties, actively seeks out market-driven crops with desirable selling prices and high yielding cropping patterns, strives to keep input costs as low as possible, actively seeks out means of increasing production and productivity with high-quality short- and long-term financing at reasonable interest rates, and has a firm grasp on effective risk management. The farmer risks losing money or failing to break even if he or she doesn't use current best practises.