Agriculture Sector Shows Remarkable Growth in GVA Estimates
The Ministry of Statistics and Programme Implementation (MoSPI) has released new estimates revealing that the Agriculture and Allied Sector comprises approximately 18% of the total Gross Value Added (GVA) in India. For the fiscal year 2014-15, the GVA of this sector was estimated at ₹20,93,612 crore, and projections for 2023-24 show a significant rise to ₹48,77,867 crore. This represents an impressive compound annual growth rate of 8.83% over the period from 2014-15 to 2023-24.
Significant Contributions from Livestock, Crops, and Fishing
National Accounts Statistics indicate distinct contributions from various branches within the Agriculture and Allied Sector. Livestock accounts for 30.87% of the sector’s GVA, while crops contribute 54.39% and fishing and aquaculture make up 7.55%. The GVA from livestock has surged from ₹5,10,411 crore in 2014-15 to ₹15,05,615 crore in 2023-24. Similarly, the GVA from crop production rose from ₹12,92,874 crore to ₹26,52,891 crore in the same time frame. Fishing and aquaculture have also seen growth, with their GVA increasing from ₹11,65,67 crore to ₹36,81,24 crore.
Food Grain Production on the Rise
Food grain production in India has demonstrated a robust upward trend over the past decade. Total food grain output was estimated at 2515.42 LMT for the 2015-16 season, showcasing an increase to 3577.32 LMT during the forecast for 2024-25. This represents a compound annual growth rate of approximately 3.6%. Additionally, the first advance estimates for kharif crops in 2025-26 project record-breaking production at 1733.30 LMT.
Projected Growth of Agriculture Sector’s GVA
The Second Advance Estimates of Annual GDP for 2025-26 predict the GVA of the Agriculture and Allied Sector will reach ₹52,08,800 crore, marking a growth of 2.4%.
Rising Incomes for Agricultural Households
The average monthly income of agricultural households is periodically assessed through the Situation Assessment Survey (SAS) conducted by the National Statistics Office (NSO). According to the latest NSS 77th round survey, conducted between January and December 2019, the average monthly income per agricultural household stood at ₹10,218. This marks a significant increase from ₹6,426 in 2012-13, as recorded in the NSS 70th round. Economic conditions and farm sizes, among other local factors, influence these income variations across states.
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