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Agriculture Sector Final
Agriculture Sector Final
SECTOR ANALYSIS:- AGRICULTURE SECTOR INTRODUCTION: Agriculture is one of the strongholds of the Indian economy and accounts for 14.6 per cent of the country's gross domestic product (GDP) in 2009-10, and 10.23 per cent (provisional) of the total exports GROWTH TREND: One of the biggest success stories of independent India is the rapid strides made in the field of agriculture. From a nation dependent on food imports to feed its population, India today is not only self-sufficient in grain production but also has substantial reserves
The contributions of various sectors in the Indian GDP for some years are as follows:
1991-1992 2005-2006 20% 26% 54% 2007-2008 17% 29% 54%
According to Annual Report 2009-10 of the Ministry of Agriculture, production of foodgrains during 2009-10 is estimated at 216.85 million tonnes (MT) as per 2nd Advance Estimates. India has become the world's largest producer across a range of commodities due to its favourable agro-climatic conditions and rich natural resource base. India is the largest producer of coconuts, mangoes, bananas, milk and dairy products, cashew nuts, pulses, ginger, turmeric and black pepper. It is also the second largest producer of rice, wheat, sugar, cotton, fruits and vegetables. The US Department of Agriculture (USDA) has pegged India's rice output up by 13 per cent at 99 million tonnes in 2010-11.
Future Prospects: Although Indian Agriculture has come a long way, there are certain implications that have to be addressed for national and nutritional security. Our population is expected to be 1.4 billion by 2020. The increasing population, coupled with growing income will generate increased demand for food grains and non-food grain crops. Therefore, Indian agriculture has to achieve a higher growth rate targeted at 4 per cent per annum on a sustainable basis. Acceleration of growth of this sector will not only push the overall GDP growth upwards, it would also make the growth more inclusive.
Challenges Faced: Through the voting box India is rediscovering the importance of agricultural and rural development. Indian agriculture however faces many uncertainties and many challenges: climate change international trade domestic support and subsidization urbanization changing consumption patterns and development of the private sector are just some of the variables that will change the face of Indian agriculture and will affect the type of investments required.