*Source: author’s own Eviews calculations.
From the above table it can be observed that
- On productivity of food grains irrigation has a delayed impact as
compared to electricity in short run. This basically signifies the
nature of influence of electricity to food grains production to be
indirect.
- Though consumer expectations (in terms of CPI) and Producer
expectation (in terms of WPI) doesn’t directly influence FGPD but they
influence each other. This is because of the fact that consumer
expectation and producer expectations are formed in long run and they
don’t have any instant impact on the production process.
- Consumption of electricity is influenced by production and consumer
expectation of last year, signifying income dependency of electricity
consumption in agricultural sector. This specifically demands for
governmental attention towards supply of electricity to agricultural
uses for technological advancement and productivity.
- Irrigation in the current year is highly influenced by Electricity
consumption of the previous years. It shows technological dependence
of irrigation in food grains production in India as increasingly
climatic conditions of rainfall has become uncertain and the monsoon
rainfall is not dependable, leading to reduction in rainfed
agriculture.
- Irrigation of the current year is influenced by previous year
irrigation as well. That means if irrigated previously it will be
irrigated this year also and vice-versa.
- Producers’ expectation in not-naive i.e. previous year WPI influences
current years WPI and thereby the producer expectations.
Below we have shown the results of Wald Test for checking joint
influence of factors: