India's agriculture growth News

While the year-to-year agriculture GVA (Gross Value Addition) growth for the July-September quarter of 2017-18 dropped to 1.7 percent from 4.1 percent, measured on basic prices, the fall looks quite sharp at current prices from 10 percent to 3.7 percent.

The government has set a target to achieve a record foodgrains production of 271.98 million tonnes in 2016-17 crop year on back of good monsoon after two consecutive drought years.

The agriculture sector is all set to bounce back leaving two years of drought behind and may well pull off record foodgrain output of 270 million tonnes in 2016-17 on good rains, but farmers' woes may continue due to adverse impact of notes ban and low sales realisation.  

India will "definitely" see higher foodgrain output and overall growth in the agriculture sector in case the IMD prediction of a good monsoon "comes true", Agriculture Minister Radha Mohan Singh said Tuesday.

India's crucial monsoon rains are expected to be above average in 2016, the weather office said on Tuesday, easing fears over farm and economic growth after two straight droughts hit rural incomes and agricultural output.

Due to poor monsoon the agriculture growth was negative in 2014-15 at 0.25 percent and in 2015-16 and it is expected to be at 1.2 percent, Chand added.

Indian economy will slightly perform better this year as the productivity level of capital may remain high, former governor of RBI C Rangarajan on Saturday said.