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Agriculture sector grows by 1.6% per annum in first 4 years of 12th Five Year Plan

16 Mar 2016 Evaluate

The average annual growth rate of agriculture and allied sector during the first four years of the ongoing Five year plan (2012-17), grew by an average 1.6 percent per annum, as against the 12th plan target of 4 per cent per annum.

Minister of State for Agriculture Mohanbhai Kundariya, attributed the low average growth rate of farm sector to set back in the annual crop production except for 2013-14 due to deficiency in the monsoon rainfall, moisture stress and unfavourable weather, temperature conditions adversely impacting production of Kharif and rabi crops.

However, the minister highlighting government’s initiatives has said that the government has taken several steps in order to increase investment in agriculture sector, such as enhanced institutional credit to farmers, promotion of scientific warehousing infrastructure for increasing shelf life of agriculture produce, setting up of agri-tech infrastructure fund for making farming competitive and profitable, developing commercial organic farming. In the fiscal year 2014-15, investment in terms of Gross Capital Formation (GCF) in agriculture and allied sector stood at Rs 2,56,495 crore.