Income, expenditure and saving pattern of peasantry in Punjab

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Abstract
The present study covered 270 respondents. Multistage sampling technique was adopted to collect relevant data. The results showed that the agricultural revolutions had a significant impact on agricultural labourers incomes, but the farmers incomes increased more significantly. In order to meet the economic turning point, agricultural labour wages did not increase sufficiently. Farm workers are compelled to take out loans during the lean season at rates below market value in order to pay for their future services. Demand for labour decreased overtime due to more capital-intensive agriculture and there is no significant industrial hub that might accommodate extra farm labourers. There is also no work during the off-season because farm operations are seasonal. As a result, the working class's income is reduced, which pushes more people below the poverty line. The major source of income for farm labourer is the casual and contractual work with approximately 30 per cent of the total income and the much-hyped central employment scheme MGNRGA contributes only 6 per cent. On an average 10616 was the monthly income and 11493 was the expenditure of agricultural labourer. The drug and medical expenses were making big toll on farm labourer. There was less income inequality among the farm households then higher income groups with Gini ratio /coefficient of 0.25 per cent. There was a negative average propensity to saving. It was concluded that effective oversight of this MGNRGA is required. To address the current and changing nature of agriculture’s labour and wage structures there is need to create and amend regulations.