Question

While subsidies encourage farmers to use new technology, they are a huge burden on govern ment finances. Discuss the usefulness of subsidies in the light of this face.?​

Answer 1

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▪Subsidy is an economic benefit direct or indirect granted by a government to domestic producers of goods or services often to strengthen their competitive position against foreign companies.

• It helps farmers to buy HYV seeds fertilizers and other inputs. The burden of granting subsidies falls on the government. The government has to bear the burden of financing subsidies.

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•There is scope for improving the resource use efficiency by reducing subsidies and aiming them better to small farmers and regions lagging behind.

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Answer 2

• Subsidies that encourage the production and use of fossil fuels are usually bad for the  environment. They can also be costly and often bring few benefits to the people for whom they are intended.
• But subsidies may make sense in some cases, especially  where they are aimed at encouraging more sustainable energy use
• . Examples include temporary support for new renewable and energy-efficient technologies to overcome  market barriers,
• and measures to improve poor or rural households’ access to  modern, commercial forms of energy.