Share of agriculture in India’s GDP declined to fifteen% in FY23: Govt

Share of agriculture in India’s GDP declined to fifteen per cent final fiscal 12 months from 35 per cent in 1990-91 on account of fast progress within the industrial and repair sector, the federal government knowledgeable on Tuesday. “The share of agriculture in whole Gross Worth Added (GVA) of economic system has declined from 35% in 1990-91 to fifteen% in 2022-23. The decline is introduced out not by the decline in agricultural GVA however a fast growth in industrial and repair sector GVA,” Union Agriculture Minister Arjun Munda mentioned in a written reply to Lok Sabha.

“In progress phrases, agriculture and allied sector has registered a median annual progress of 4 per cent throughout final 5 years. So far as world expertise is anxious, share of agriculture on the earth’s GDP has additionally declined over the a long time and stands at about 4 per cent in recent times,” he added.

The minister mentioned the federal government has adopted/applied a number of developmental programmes, schemes, reforms and insurance policies in direction of rising agricultural productiveness, enhancing useful resource use effectivity, selling sustainable agriculture, strengthening infrastructure and making certain remunerative costs to farmers.

He highlighted that the PM-KISAN scheme was launched in 2019. It’s an earnings assist scheme offering Rs 6,000 per 12 months in three equal instalments.

“Greater than Rs 2.81 lakh crore has been launched to this point to greater than 11 crore farmers as on November 30, 2023,” Munda mentioned.