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Agriculture, allied sectors to see moderate growth of 3% in FY18: CSO

The CSO's approach of growth estimation of GVA in agriculture is pre-dominantly production based

Press Trust of India  |  New Delhi 

agriculture, farm, cow
Representative photo

The and are estimated to grow at a slower pace of 3 per cent in 2017-18, compared to 6.3 per cent last year, Parliament was informed on Friday. The farm sector growth is estimated to moderate due to higher growth achieved last year, Minister of State for said in a written reply to the Rajya Sabha. In its second advance estimate, the (CSO) has pegged the growth rate of Gross Value Added (GVA) of and at 3 per cent for 2017-18, taking into account constant 2011-12 prices, he said. The CSO's approach of growth estimation of GVA in is pre-dominantly production based. Since 2016-17 marked a record production of and the base year 2015-16 (for calculating growth of GVA 2016-17), was a drought year, the GVA in recorded a high growth in 2016-17 financial year, he added. "In spite of a better agricultural output estimated for 2017-18, the GVA growth is moderate on account of high output in the base year 2016-17," he said. The government is estimated to be a record 277.49 million tonnes in the 2017-18 crop year (July-June), as against 275.11 million tonnes last year. The minister said the government has launched several schemes to increase growth of sector and for welfare of the farmers through increase in production and productivity of agricultural crops and to improve income levels of farmers.

First Published: Fri, March 09 2018. 22:05 IST