Farm & allied sector to grow at 4.1pc in FY17

The agriculture and allied sector is estimated to grow at 4.1 per cent in 2016-17, higher than 1.2 per cent expansion in previous fiscal, buoyed by good monsoon and better production, government said today.
The farm sector growth was at 1.2 per cent in the last fiscal due to severe drought.
As per the first advance estimate of GDP for this fiscal released by the Ministry of Statistics and Programme, "The agriculture, forestry and fishing sector is likely to show a growth of 4.1 per cent in its GVA (gross value added) during 2016-17, as against the previous year's growth rate of 1.2 per cent".

The GVA estimates of this sector have been compiled using the first advance estimates of production of major kharif crops for 2016-17 and targets based on rabi sowing.
Foodgrain production in the 2016-17 kharif season is estimated to be record 135.03 million tonnes, as against 124.01 million tonnes in the last year, according the Agriculture Ministry's first advance estimate.
Right now, rabi sowing is underway and the sowing area so far is higher than the year-ago period.

In total, the agriculture ministry has estimated a record 270 million tonnes in the 2016-17 crop year (July-June).
According to the information furnished by the Department of Agriculture and Cooperation (DAC), the production growth of foodgrains during the kharif (summer) season of agriculture year 2016-17 was 8.9 per cent as compared to decline of 3.2 per cent during the same period in 2015-16, the statement said.

In case of livestock sector, estimates of production, mainly in the form of targets are available for milk, egg, and wool, from the Department of Animal Husbandry, Ministry of Agriculture.
Around 39 per cent of GVA of this sector is based on livestock products, forestry and fisheries, which registered a combined growth of above 3.7 per cent in 2016-17, the statement added.
The agriculture and allied sectors contributes 15-16 per cent to the country's overall GDP.