Every coin has two sides – debate over farm subsidies is one such classic example.
Justify the given statement with two arguments each in favor of and against the continuation of farm subsidies.
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Solution and Explanation
Farm subsidies have been a controversial policy measure, with both positive and negative impacts.
Arguments in favor of farm subsidies:
1. Support for Small and Marginal Farmers:
- Subsidies help small and marginal farmers afford essential inputs like fertilizers, seeds, and irrigation, ensuring food security.
2. Stabilization of Agricultural Prices:
- Government subsidies prevent price fluctuations and ensure fair returns for farmers, protecting them from market volatility.
Arguments against farm subsidies:
1. Burden on Government Finances:
- Farm subsidies consume a large portion of the national budget, reducing funds available for infrastructure and social welfare programs.
2. Misuse and Overuse of Resources:
- Subsidies sometimes lead to overuse of fertilizers and water resources, causing environmental degradation and soil depletion.
Conclusion: While farm subsidies support farmers, they also strain government resources and encourage inefficient agricultural practices. Hence, policy reforms are needed to ensure targeted and sustainable subsidy allocation.
Top CBSE CLASS XII Economics Questions
___________ farming is a system that is helpful in restoring, maintaining and enhancing the ecological balance.
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Statement 2: Both India and Pakistan laid great emphasis on creating a large private sector.
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