`Farm sector is in a crisis'

Staff Reporter

KOCHI: While the country is doing well in terms of GDP, agriculture which is considered the backbone of the economy is in a crisis, said C.P.Chandrasekhar, economist. He was speaking at a seminar on `Framework for an inclusive economy', organised by the Kerala unit of Bank Employees Federation of India.

The Government is performing a facilitating role for foreign investors. This is bound to boomerang on the state of the economy. The Left, which has been put in a bind, will have to make a hard choice, he said. After a long period, India registered a surplus on the foreign exchange front, but the Government finds itself in a difficult situation to fund projects for social development and infrastructure amenities. The State governments have been forced to avail of loans from international agencies like ADB and World Bank. Sebastian Paul, MP, inaugurated the seminar. K.Chandran Pillai, MP, K.A.Chackochan , T.S.Murali, and A Siyaudeen, BEFI leaders, spoke.

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