India's Agriculture Sector Will See Steady Growth

The development of India's agriculture sector will remain stable, with growth expected to exceed 3 percent in the current fiscal year, as there has been no immediate setback so far, including the monsoon. This information was provided by Ramesh Chand, a member of NITI Aayog and an agricultural economist.

Chand said in an interview on August 16th, 'Overall, agricultural development is steady.' He mentioned that there is no immediate risk to agricultural production because there has been normal rainfall across the country, except in August, which is a crucial sowing period for the Kharif season. This year's rainfall is higher than the same period last year. There have been no reports of any adverse effects on livestock production so far, and the water levels in reservoirs are currently more than 7 percent above the 10-year average. According to the first advance estimate released by the Ministry of Statistics and Program Implementation on May 31, growth in India's agriculture sector for the last fiscal year, 2021-22, was seen at 4 percent compared to 3.5 percent. The Economic Survey for 2022-23 indicated that the average annual growth rate in India's agriculture sector over the past six years is expected to be 4.6 percent."

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