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Agricultural subsidies in India were initially a critical policy instrument, particularly important during the Green Revolution period (mid-1960s to mid-1980s). The government provided these subsidies, along with low-interest loans, to small farmers to enable them to access essential inputs like subsidised fertilisers and High Yielding Variety (HYV) seeds. This intervention was necessary to encourage farmers to adopt the new, perceived-as-risky HYV technology, ensuring that the benefits of increased agricultural output were not confined only to large or prosperous farmers, thereby mitigating disparities and upholding the goal of equity. Currently, the economic justification for continuing agricultural subsidies in India is a subject of active debate. Some economists argue that once a new technology, like HYV, is proven profitable and widely adopted, subsidies should be phased out as their original purpose has been served. They also point out that a significant portion of fertiliser subsidies often benefits the fertiliser industry and farmers in more prosperous regions rather than the intended small or poor farmers, and that these subsidies represent a substantial financial burden on the government. Furthermore, critics suggest that subsidies can distort price signals, leading to the wasteful use of scarce resources such as electricity and water. This can encourage farmers to cultivate water-intensive crops in unsuitable regions, further depleting resources, and promote the overuse of fertilisers and pesticides, potentially harming the environment. Conversely, proponents advocate for the continuation of agricultural subsidies. They emphasize that farming in India remains a risky business for many, and a large number of farmers are poor and unable to afford the necessary inputs without government support. Eliminating subsidies, they argue, would likely increase inequality between rich and poor farmers, thereby violating the fundamental goal of equity. These experts propose that instead of outright abolition, the policy should focus on implementing measures to ensure that only the truly poor farmers receive the benefits of these subsidies.