Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Warning (2): Cannot modify header information - headers already sent by (output started at /home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php:853) [CORE/src/Http/ResponseEmitter.php, line 148]
Warning (2): Cannot modify header information - headers already sent by (output started at /home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php:853) [CORE/src/Http/ResponseEmitter.php, line 181]
LATEST NEWS UPDATES | Agriculture rebound driving India's GDP growth by Ashutosh Sinha

Agriculture rebound driving India's GDP growth by Ashutosh Sinha

Share this article Share this article
published Published on Feb 9, 2011   modified Modified on Feb 9, 2011
Agriculture, which had dragged down growth during UPA's first term, is now helping the GDP numbers shine. Good monsoon has helped drive the growth expectations comfortably over 5 per cent, adding some new shine to the economy.

According to Advance Estimates, the government expects that the 8.6 per cent growth of the economy during the current fiscal will be powered by agriculture growing at 5.4 per cent, a big jump over 0.4 per cent last year.

"All along I was maintaining, it should be around 8.5 per cent plus. 8.6 per cent is accepted," Finance Minister Pranab Mukherjee said adding, "Now the other issue is inflation, trade balance... these are to be addressed".

In October, the government raised the minimum support prices for rabi crops. The price of pulses was raised by up to Rs. 380 a quintal, while that of gram or chana was raised by Rs. 340 a quintal to Rs. 2100 per quintal. MSP for wheat was raised by Rs. 20 a quintal to Rs. 1120.

The sharp increase in MSP for pulses indicates that the government wants to cut down on the dependence on exports. That has helped drive up the acreage which is showing up in the higher output.

Farmers are also focusing on cash crops because of the failure of cotton crop in China and Pakistan is driving prices are demand in India. Sugar prices are surging higher because demand continues to be strong around the world. Indian farmers may just begin to be a part of the agri commodities boom.

With over dependence on monsoon, the country's agricultural growth continues to fluctuate year- on-year depending on the weather gods.

Mukherjee said the economic growth estimated was satisfactory in the wake of the rising inflation and trade imbalances.

NDTV, 7 February, 2011, http://profit.ndtv.com/news/show/agriculture-rebound-driving-india-s-gdp-growth-139692?pfrom=home-Business


Related Articles

 

Write Comments

Your email address will not be published. Required fields are marked *

*

Video Archives

Archives

share on Facebook
Twitter
RSS
Feedback
Read Later

Contact Form

Please enter security code
      Close