Indian Agriculture contributes to green shoots of the Indian Economy

The Agriculture and Allied activities clocked a growth of 3.4 per cent at constant prices during 2020-21(first advance estimate) says the Economic Survey. The Union Minister for Finance & Corporate Affairs, Smt Nirmala Sitharaman presented the Economic Survey 2020-21 in Parliament.

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As per the Provisional Estimates of National Income released by CSO on 29th May, 2020, the share of Agriculture and Allied Sectors in Gross Value Added (GVA) of the country at current prices is 17.8 per cent for the year 2019-20.

In the Agriculture year 2019-20 (as per Fourth Advance Estimates), total food grain production in the country is estimated at record 296.65 million tonnes which is higher by 11.44 million tonnes than the production of food grain of 285.21 million tonnes achieved during 2018-19.

In 2019-20, the major agricultural and allied export destinations were USA, Saudi Arabia, Iran, Nepal and Bangladesh.

The top agriculture and related products exported from India were marine products, basmati rice, buffalo meat, spices, non-basmati rice, cotton raw, oil meals, sugar, castor oil and tea.

The contribution of livestock in total agriculture and allied sector GVA (at Constant Prices) has increased from 24.32 per cent (2014-15) to 28.63 per cent (2018-19). Livestock sector contributed 4.19 per cent of total GVA in 2018-19.

During the last 5 years ending 2018-19, Food Processing Industries (FPI) sector has been growing at an Average Annual Growth Rate (AAGR) of around 9.99 per cent as compared to around 3.12 per cent in Agriculture and 8.25 per cent in Manufacturing at 2011-12 prices.