Govt bullish on farm sector growth on hopes of good monsoon

India's agriculture growth had averaged just 0.5% in the first two-years of Modi govt due to back-to-back droughts

With the southwest monsoon expected to be better in 2016 after two consecutive drought years, agriculture minister Radha Mohan Singh today hoped that both foodgrain production and farm growth would be better than previous years in 2016-17.

India's agriculture growth had averaged just 0.5 per cent in the first two-years of Modi government due to back-to-back droughts.

However, the India Meteorological Department (IMD) in its April 2016 forecast has said that rains this year could be 'above normal' at 106 per cent of the Long Period Average (LPA).

"If IMD forecast comes true, I am confident that foodgrain output will definitely increase and overall agri-growth will also be higher," Singh said while briefing the media on NDA government's achievements during two years in power.

 

On the recent controversy associated with GM seeds and the licensing agreements, the minister said that the earlier notification which capped the retail price of Bt cotton seeds has not been withdrawn to protect the interest of farmers, while that on licensing agreement has been put in public domain for wider consultations because of concerns raised by various stakeholders.

Meanwhile, in order to boost production in pulses and oilseeds, Singh said, "We had increased MSP substantially last year. This time also, we will increase."

A final call on the Agriculture Ministry's proposal to hike MSP of pulses and other kharif crops for 2016-17 will be taken up in the Cabinet meeting soon.

In view of better monsoon forecast, the Agriculture Ministry is aiming to achieve a record 270.10 million tonnes of foodgrains production in 2016-17 crop year (July-June).

The country had last achieved a record output of 265.04 MT in 2013-14. However, the production in 2014-15 and 2015-16 fell to 252.02 MT and 253.23 MT due to drought in more than 10 states. EoM