In recent years, the agriculture sector in India has shown robust growth, averaging 5 per cent annually from FY17 to FY23, demonstrating resilience despite challenges.
India’s agricultural sector has demonstrated remarkable resilience in recent years, marked by consistent growth rates, which can be largely attributed to various government initiatives to enhance productivity, promote crop diversification, and increase farmers’ income, states the Economic Survey 2024-25, tabled by Union Minister of Finance and Corporate Affairs, Nirmala Sitharaman in the Parliament.
The Economic Survey highlights that the ‘Agriculture and Allied Activities’ sector has long been the backbone of the Indian economy, playing a vital role in national income and employment. In recent years, the agriculture sector in India has shown robust growth, averaging 5 per cent annually from FY17 to FY23, demonstrating resilience despite challenges. In the second quarter of the 2024-25 fiscal year, the agriculture sector recorded a growth rate of 3.5 per cent. The Gross Value Added (GVA) of agriculture and related sectors, have improved from 24.38 per cent in the fiscal year FY15 to an impressive 30.23 per cent by FY23. Consistent and stable growth of agriculture at around 5 per cent, with a 20 per cent share of overall GVA in the economy, will contribute 1 per cent growth to GVA.
