Agriculture's contribution to India's GDP fell to 15% last fiscal year from 35% in 1990-91 due to strong expansion in the industrial and service sectors, the government said on Tuesday.
"Agriculture's share of total Gross Value Added (GVA) of the economy has decreased from 35% in 1990-91 to 15% in 2022-23." "The decline is caused by a rapid expansion in industrial and service sector GVA rather than a decline in agricultural GVA," Union Agriculture Minister Arjun Munda said in a written reply to the Lok Sabha.
"In terms of growth, the agriculture and allied sector has experienced an average annual growth rate of 4% over the last five years." In terms of worldwide experience, agriculture's part of global GDP has likewise dropped throughout the decades, and it now stands at around 4% in recent years," he added.
According to the minister, the government has adopted/implemented a number of developmental programs, schemes, reforms, and policies aimed at increasing agricultural productivity, improving resource use efficiency, promoting sustainable agriculture, strengthening infrastructure, and ensuring farmers receive fair prices.
He emphasized that the PM-KISAN programme was launched in 2019. It's an income-support programme that pays Rs 6,000 per year in three equal installments. "More than Rs 2.81 lakh crore has been released so far to more than 11 crore farmers as on November 30, 2023," Munda stated in a press release.
