The gross value added (GVA) of Indi a’s agriculture and allied sectors has more than tripled between Financial year 12 and Financial year 24. This information has been given in a recent report released by Ministry of Statistics and Program Implementation on Friday. The agriculture sector remains the backbone of the Indian economy, which not only contributes about 16% to the GDP, but also provides employment to more than 46% of country’s population.
According to the “Statistical Report on the Production Value of Agriculture and Allied Sectors”, the GVA of the agriculture sector increased from Rs 1,500 thousand crore in FY12 to Rs 4,800 thousand crore in FY24. It has increased by about 22 percent in the last financial year alone. During the same period, the gross production value (GVO) of agriculture has also increased from Rs 1,900 thousand crore in FY12 to about Rs 3,000 thousand crore in FY24, showing an increase of 55 percent.
Although the report does not explain the reasons behind these figures, experts believe that good monsoon and special schemes of the central and state governments have helped in increasing the yield and improving the income of farmers.
Crop Production And Performance Of States
Crops have the largest share in agricultural GVO, contributing more than 54 percent. In this, cereals and fruits and vegetables together contribute more than 52 percent. Especially paddy and wheat are responsible for 85 percent of the cereal GVO.
State-wise, Uttar Pradesh is at the front, which alone contributes 17 percent of the national agricultural GVO. It is followed by Madhya Pradesh, PPunjab, Telangana and Haryana, which togetther provide 53 percent of total production.
In the fruits category, bananas have overtaken mangoes in FY24. The GVO of bananas was Rs 47 thousand crore, while that of mango was Rs 46.1 thousand crore. Among vegetables, the GVO of potato increased from Rs 21.3 thousand crore in FY12 to Rs 37.2 thousand crore in FY24, making it the top sector.
Role Of Animal Husbandry
While the GVO of livestock was Rs 488 thousand crore in FY12, it has increased to Rs 919 thousand crore in FY24. In this too, milk has the highest share, although its percentage has decreased slightly to 66, while the contribution of meat has increased to 24 percent.
Floriculture in horticulture has also registered significant growth. The GVO of floriculture has increased from Rs 17.4 thousand crore in FY12 to Rs 28.1 thousand crore in FY24, which reflects the growing business prospects in this sector.
Floriculture in horticulture has
Overall, these figures show that agriculture is no longer limited to only food grain production, but it has also become an important source of economic diversification and rural development.
