Don’t miss the latest developments in business and finance.

Agriculture sector grows by 6.6% in FY11

Image
Press Trust of India New Delhi
Last Updated : Jan 20 2013 | 2:09 AM IST

Agriculture and allied sectors showed a marked improvement by registering 6.6% growth in 2010-11 as against 0.4% in the previous fiscal helped by a record foodgrain production of 235.88 million tonne.

The rising trend in farm production, experts warned might not continue in the current fiscal.

The government had earlier projected 5.4% growth in 2010-11 for agriculture sector.

"Third advance estimates of crop production released by Agriculture Ministry showed an upward revision as compared to their second advance estimates in the production of wheat, pulses, oilseeds and sugarcane during 2010-11," an official statement said.

Due to upward revision in the farm output, 'agriculture, forestry and fishing' sector in 2010-11 has shown a growth rate of 6.6% as against the growth rate of 5.4% in the advance estimates, it added.

Commenting on the data, PMEAC Chairman C Rangarajan said: "The agriculture growth this year will be lower than last fiscal...6.6% growth comes after drought year [making the base low]."

More From This Section

According to GDP data released today, the farm sector posted a growth of 7.5% in the fourth quarter of last fiscal as against 1.1% in the year-ago period.

As per the third advance estimates for 2010-11 crop year (July-June), the country's foodgrain production is pegged at record 235.88 million tonne against 218.11 million tonne in the previous year. The previous record was 234.47 million tonne in 2008-09 crop year.

The country witnessed record production in wheat at 84.27 million tonne, pulses at 17.29 million tonne, oilseeds 30.25 million tonne and cotton at 33.9 million bales (170 kg each).

Good monsoon in 2010 coupled with schemes launched by the government to boost production contributed to the record foodgrain output in 2010-11 crop year.

In 2009, almost half of the country witnessed severe drought leading to a sharp decline of foodgrain production by 16 million tonne in 2009-10 crop year.

The agriculture sector contributes only about 15% to the GDP, but more than 60% of the country's population depends on it.

Also Read

First Published: May 31 2011 | 5:56 PM IST

Next Story