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LATEST NEWS UPDATES | Economic Survey forecasts farm growth at 5.4%

Economic Survey forecasts farm growth at 5.4%

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published Published on Feb 25, 2011   modified Modified on Feb 25, 2011

The survey called for a “Second Green Revolution with technological breakthrough in the agriculture sector” to boost farm output and ensure the food security of the country

The Economic Survey on Friday pegged the country’s agriculture sector growth at 5.4% in the current fiscal, as against 0.4% in the previous year.

The survey also called for a “Second Green Revolution with technological breakthrough in the agriculture sector” to boost farm output and ensure the food security of the country.

“Agriculture likely to grow at 5.4% in 2010-11,” said the Survey, which was tabled in Parliament on Friday.

The growth of the agriculture and allied sector is expected to be higher this year on the back of a revival in foodgrains production in the 2010-11 crop year (July-June) following a good monsoon.

Foodgrains production is estimated to rise to 232.07 million tonnes in 2010-11 crop year from 218.11 million tonnes last year. The country is all set to harvest a record wheat, pulses and cotton crop this year.

In the 2009-10 crop year, farm sector gew at only 0.4% due to severe drought in 2009, which hit almost half the country, reducing foodgrain production by 16 million tonnes. -PTI

Live Mint, 25 February, 2011, http://www.livemint.com/2011/02/25115453/Economic-Survey-forecasts-farm.html?h=A1


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