For too long, our agricultural policy has treated the farmer as a mere “input provider”—no different from a bag of urea or a litre of diesel. We track yield per acre, soil health, and credit flow with surgical precision. But we consistently ignore the most vital engine of the rural economy: the farmer’s own body and mind.

It is time to stop viewing health as a “social cost” and start seeing it for what it truly is—Economic Capital. In a standard factory, if a machine breaks down, the production line stops, and the owner loses money. In agriculture, the “machine” is the farmer. Yet, our economic models don’t account for the “wear and tear” of the human being. Whether it’s the long-term damage from inhaling pesticides, the physical strain of manual weeding, or the mental toll of a volatile market, the farmer’s “health stock” is constantly being depleted.

The ‘invisible’ cost of food

When you buy a kg of rice or a cotton shirt, you aren’t just paying for seeds and water. You are paying for the physical energy of a human being. Currently, global food prices are artificially low because they don’t factor in “health depreciation.” If we were to calculate the true cost of cultivation — including the medical expenses and the loss of physical capacity over a lifetime — the price of our food would likely rise by 20% or more.

Essentially, the world is eating at a discount, subsidized by the declining health of those who grow our food. This isn’t just unfair; it’s an economic time bomb. A sick or exhausted farming community cannot sustain a global population heading toward 10 billion.

Why this matters for global trade

This isn’t just a local issue for India; it’s a global supply chain risk. For international companies, “sustainability” usually means planting trees or saving water. But what about the people?

A truly sustainable supply chain should be measured by a Health Capital Index. If a global coffee brand sources from a region where farmers are dying young or falling into “medical debt” traps, that supply chain is not sustainable. By protecting “Farmer Health Capital,” we ensure that the global food system remains resilient against the next pandemic or climate shock.

Turning Theory into Action: To fix this, we need a shift in how we handle agricultural finance and policy:

Health-Adjusted Pricing: When setting support prices or procurement rates, the human effort should be valued fairly. We must stop assuming that manual labour is an “infinite” resource that costs nothing to maintain.

Productivity Insurance: Instead of just insuring the crop against rain, let’s insure the farmer. If a farmer is too ill to plant, the crop fails anyway. We need insurance products that treat the farmer’s health as the primary asset.

The Safety Dividend: Moving toward natural or organic farming shouldn’t just be about the environment. It should be marketed as a way to “save” health capital by reducing exposure to toxins. It’s the ultimate preventive healthcare.

We cannot expect to build a high-growth economy on the back of a depleted, unhealthy rural workforce. If we want agriculture to be the backbone of the future, we have to start by taking care of the spine. Recognising health capital is the first step toward an agrarian reform that finally puts people before percentages.

(The writer is adviser, Viksit Maharashtra, Chief Minister Office, Maharashtra)V

Published on May 9, 2026