Agriculture contribution in GDP declines at 16.6 perc

India's agriculture sector has accounted for only 16.6 per cent of its gross domestic product so far this plan period (2007-12) despite record production of farm commodities in the 2007-08 season, according to the latest government estimate.

The share of the farm sector in the GDP is down to 16.6 per cent from a whopping 46.3 per cent during the First Plan period (1951-56), according to the data presented by Minister of State for Agriculture K V Thomas in a written reply in the Rajya Sabha today.

The sector contributed 17.8 per cent to the overall GDP in the last Plan period (2002-07), The declining share of the sector in the GDP can be a major cause of concern for policy makers this year as the forecast of a "below-normal monsoon" during the on-going Kharif has cast a gloom on production.

Moreover, the dependence on farming has not dipped that dramatically. About 65 per cent of the world's second-most populous nation still depends upon farming for livelihood.

Even though the country has witnessed record foodgrain production of 230.78 million tonnes in the 2007-08 season followed by another year of bumper output of the grains at 229.85 million tonnes, the share of the sector in the GDP has not shown any improvement.

courtesy - economictimes

Indian Economy Updates | Latest agriculture / trade News

April 2008 Indian Economic Updates :

Agriculture April 2008 Latest Updates :

• Mizoram govt distributes paddy seeds to farmers free of cost - (18/4/2008)
• Govt pressed to compensate farmers - (17/4/2008)
• Karuturi Global to buy Dutch firm Florinex - (17/4/2008)
• Rs 25kcr plan to boost farm output: Pawar - (16/4/2008)
• Poll-bound states likely to put stock limits on wheat - (16/4/2008)
• Rain & hail may set wheat prices on fire - (15/4/2008)
• Agriculture needs investments to handle supply issues: IDBI - (15/4/2008)
• Govt may meet wheat target as pvt players shy away from buying - (14/4/2008)
• 20 farm suicides in three days in Vidarbha - (13/4/2008)
• Need to raise loan waiver upto 10 hectares farm land:Coop body - (13/4/2008)
• Potato farmers struck by distress sale - (13/4/2008)
• Expert expects potato prices to stabilise at Rs 5-6 a kg - (13/4/2008)
• Maharashtra's sugar output to dip by 6%, export up by 42% - (13/4/2008)
• Efforts being made to get more rice from central pool, AP - (12/4/2008)
• Haryana to launch campaign for seed treatment - (12/4/2008)
• Cashew corp to launch health drink, soup - (12/4/2008)
• Govt may allow premium non-basmati exports: Exporters - (11/4/2008)
• Country needs higher pulses imports in FYO9: Trader - (11/4/2008)
• Basmati seen steady in tight market - (11/4/2008)
• World sugar prices seen at 12-15 cents/lb: ISO - (11/4/2008)
• Big cos may prefer MP, Rajasthan to Punjab for wheat lifting - (10/4/2008)
• NABARD gears up to start farmers' loan waivers by June - (9/4/2008)
• Rs 393.33 cr in crops lost due to Kerala rains - (8/4/2008)
• 2008 wheat output to top 75 mn tonnes - (8/4/2008)
• Govt not to raise wheat procurement price: Pawar - (7/4/2008)
• Orissa govt to soon declare new agriculture policy - (7/4/2008)
• Untimely rains may hit mango production, price rise likely - (6/4/2008)
• Wheat crop under threat as widespread rain lashes region - (6/4/2008)
• FAO predicts increased rice production in Asian countries - (3/4/2008)
• Soaring food prices to help farmers - (2/4/2008)
• Non-basmati export ban decision hasty: Exporters - (2/4/2008)
• Higher wheat crop globally to check prices - (2/4/2008)
• Changing food habits fuelling demand for wheat: Pawar - (1/4/2008)
• MNRE submits draft composition for National Biofuel Dev Board - (1/4/2008)
• Punjab govt announces Rs 16.35 crore relief for farmers - (1/4/2008)
• Mango production to go up 12 pc this year- (31/3/2008)

April 2008 Trade with Foreign Updates :

• India wants better connectivity with Bangladesh - (20/4/2008)
• Trilateral alliance not aimed at creating power bloc: India - (19/4/2008)
• Canada calls for stronger economic ties with India - (19/4/2008)
• India wants two-way trade with US: Ronen Sen - (19/4/2008)
• US small business agency to promote exports to India - (19/4/2008)
• US housing slump hits India's furniture exports - (19/4/2008)
• India to import 80 lakh tons of urea this year: Paswan - (18/4/2008)
• India, Mexico sign agreements in civil aviation, energy - (18/4/2008)
• WTO ministerial on May 19 to help wrap up Doha talks - (18/4/2008)
• India questions US legislation on scanning all imports - (17/4/2008)
• Indo-US business unaffected by rupee rise, sub-prime crisis - (10/4/2008)
• Indo-Malaysia trade opportunities galore - (10/4/2008)
• Schemes to be launched for promoting ornamental fish export - (9/4/2008)
• India, UK SMEs eye tie-ups ahead of Commonwealth, Olympics - (9/4/2008)
• Russia seeks enhanced economic ties with India - (9/4/2008)
• India to export about 2.1 mlnT of corn by May '08 - (9/4/2008)
• Oilmeals export earning jumps 65% to Rs 7,109 cr in FY'08 - (8/4/2008)
• India, Kazakhstan to get into projects-specific mode in oil sector - (8/4/2008)
• There's tremedous potential for growth of US-India trade: US - (8/4/2008)
• India's ties with Africa distinct from others - (7/4/2008)
• EU, US renew pressure on India's import ban on animal products - (7/4/2008)
• India-Africa trade can touch $50 billion by 2012: FICCI survey - (7/4/2008)
• Govt to facilitate cement import from Pakistan - (7/4/2008)
• Cross-border Indo-Pak trade along LOC on the anvil - (7/4/2008)
• Exporters should change biz models,cut dependence on govt: Survey - (6/4/2008)
• Seafood exports from India registers 12 pc fall - (5/4/2008)
• WTO calls off Doha trade meeting planned for April - (5/4/2008)
• Qureshi hints at reassessing no-Indian investment policy - (4/4/2008)
• CSEZ achieves 70 per cent growth in exports - (4/4/2008)
• 'India-Africa summit will boost South-South cooperation' - (4/4/2008)
• Govt withdraws sop on basmati rice export to check inflation - (4/4/2008)
• India, Myanmar inks double taxation avoidance treaty - (3/4/2008)
• US embarking on global energy ties with India - (3/4/2008)
• India agrees to supply rice to crisis ridden Sri Lanka - (3/4/2008)
• India asks developed nations to end protectionism - (3/4/2008)
• India sugar exports to fall in next crop year: LMC - (3/4/2008)
• India-Australia tie-up on cards for flexible GI shield - (3/4/2008)
• Sugar exports to dominate trade conference - 1/4/08