Tabling a statement in Lok Sabha, Agriculture Minister Sharad Pawar said the policy also aimed at improving their productivity and profitability and providing an appropriate price policy and risk management measures.
He said he hoped that the new policy would "help in rejuvenating our farm sector and bringing lasting improvement in the economic condition of the farmers".
Observing that the policy was primarily based on the recommendations of the National Commission on Farmers headed by M S Swaminathan, he said the draft policy suggested by the panel as well as suggestions received from various central ministries and state governments were
taken into account while finalising it.
It aimed at improving the economic viability of farmers in addition to enhancing productivity, profitability and other support services including land and water, he said.
In order to operationalise this policy, Pawar said the department of agriculture and cooperation would constitute an Inter-Ministerial Committee for preparing a suitable plan of action for the purpose.
The Swaminathan Commission had dealt with methods to enhance productivity, profitability and sustainability of the major farming systems in different agro-climatic regions.
It had also suggested measures to attract and retain educated youth in farming and to work out a comprehensive medium term strategy for food and nutrition security.