GVA in agriculture and allied activities projected to fall to 2.1% in FY18

Gross value added (GVA) in agriculture and allied activities is projected to fall to 2.1 per cent in FY18 because of an expected drop in the rabi harvest, an almost three per cent fall in kharif production, and on account of a big base, according to the first advance estimates of gross domestic product (GDP) for 2017-18 released on Friday.

More than GVA at constant prices, GVA for agriculture and allied activities at current prices slumped from nine per cent in 2016-17 to 2.8 per cent in 2017-18, which means farm product prices grew a mere 0.7 per cent in 2017-18