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LATEST NEWS UPDATES | Agri share in GDP hit 20% after 17 years: Economic Survey -Shagun Kapil

Agri share in GDP hit 20% after 17 years: Economic Survey -Shagun Kapil

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published Published on Jan 29, 2021   modified Modified on Jan 30, 2021

-Down to Earth

Agriculture was the only sector to have clocked a positive growth at constant prices in 2020-21

The share of agriculture in gross domestic product (GDP) has reached almost 20 per cent for the first time in the last 17 years, making it the sole bright spot in GDP performance during 2020-21, according to the Economic Survey 2020-2021.

The resilience of the farming community in the face of adversities made agriculture the only sector to have clocked a positive growth of 3.4 per cent at constant prices in 2020-21, when other sectors slid.

The share of agriculture in GDP increased to 19.9 per cent in 2020-21 from 17.8 per cent in 2019-20. The last time the contribution of the agriculture sector in GDP was at 20 per cent was in 2003-04.

This was also the year when the sector clocked 9.5 per cent GDP growth, after the severe drought of 2002 when the growth rate was negative.

Following 2003-04, the share has remained between 17 and 19 per cent.

“The growth in GVA (gross value added) of agriculture and allied sectors has been fluctuating over time. However, during 2020-21, while the GVA for the entire economy contracted by 7.2 per cent, growth in GVA for agriculture maintained a positive growth of 3.4 per cent,” according to the survey.

The continuous supply of agricultural commodities, especially staples like rice, wheat, pulses and vegetables, also enabled food security.

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Down to Earth, 29 January, 2021, https://www.downtoearth.org.in/news/agriculture/agri-share-in-gdp-hit-20-after-17-years-economic-survey-75271?fbclid=IwAR2GXk1CPIww--RobXuAR_nYYt22bRGsM5uKCM8zCNTrGAWrgkLdm992rOI


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