Agri-businesses shrug off demonetisation impact, grow by 5.2% in March qtr

Growth was due to record production of grains in FY17

The country’s gross value added (GVA) in the agriculture, forestry and fishing sector grew 5.2 per cent in the January-March quarter, final one of the 2016-17 financial year.

This was the highest in two years, with record production of foodgrain and horticulture. The GVA for agriculture and allied activities during the same quarter of the year before was 1.5 per cent. Output of grain was a record high despite the acute cash crunch right in the middle of the rabi sowing season. On November 8, 2016, the Centre had announced that the currency notes of Rs 500 and Rs 1,000 denominations