The Effects of Socioeconomic Factors on Farm Income in Naogaon District of Bangladesh: An Empirical Analysis

Abstract

Aims: There is controversy among policy makers concerning whether farm income is stable as well as which factors have a greater influence on it. Thus, the present study aims at investigating the effects of socioeconomic factors on farm income in Naogaon district of Bangladesh. Methodology: The population under investigation in this study consisted of farmers from the twelve villages who were directly involved in agriculture. The study used a multistage sampling technique with respondents, unions, and villages selected using a simple random sampling technique, and districts and upazilas were selected purposively. In this regard, 300 rural farmers were interviewed for the study purpose. In this research, a multiple regression model is used to describe how socioeconomic factors affect the farm income in Naogaon district. The final survey was carried out during the period from March to May, 2023. Results: It is seen from the study that the average distance to the nearest market is 0.59 kilometers, while the mean value of agricultural training is 0.45 years and the average farming experience is 28.36 years. The empirical results of the study show that farm income is positively connected with other factors such as farming experience, access to credit facilities, household size, distance to the nearest market, farm size, access to agricultural information, education, and agricultural training. However, the same is negatively correlated with age and membership in an agricultural cooperative. Finally, some policy recommendations are made towards increasing farm income of the farmers in the study area.