Constitutional Mandates and their Impact on Poverty Reduction through Agricultural Finance

Abstract

Agriculture is the backbone of the Indian economy. For the sustenance of the agriculture sector, we need to ensure sustainable agriculture credit to ensure the rural agrarian social structure remains intact. More than 55 percent of the people directly depend on agriculture for employment, food, and livelihood. However, agriculture's contribution to the total GDP share is approximately 17 percent. It means that more than 55 percent of people share 17 % GDP income, which underlines huge inequality in the distribution of wealth. This picture of the Indian economy is against the constitutional morality of ensuring equitable and justified development of India and the concentration of wealth. The Constitution of India guarantees and ensures fundamental rights for a dignified life for every citizen of India. The Directive Principles of State Policy Mandate the State to promote welfare by securing a social order with justice - economic, social, and political and emphasize equitable distribution of resources and prevention of wealth concentration. The present research paper underscores the important role of agriculture finance in shaping rural community livelihood and reducing poverty, reducing inequality, and spurring economic growth under the Constitutional Mandates and their impact on Poverty Reduction through Agricultural Finance.