Share of agriculture in India's GDP declined to 15% in FY23: Government
Union Agriculture Minister Arjun Munda highlighted that the share of agriculture in total Gross Value Added (GVA) of economy has declined from 35% in 1990-91 to 15% in 2022-23.
Share of agriculture in India's GDP declined to 15% last fiscal year from 35% in 1990-91 due to rapid growth in the industrial and service sector, the government informed on Tuesday.
"The share of agriculture in total Gross Value Added (GVA) of economy has declined from 35% in 1990-91 to 15% in 2022-23. The decline is brought out not by the decline in agricultural GVA but a rapid expansion in industrial and service sector GVA," Union Agriculture Minister Arjun Munda said in a written reply to Lok Sabha.
"In growth terms, agriculture and allied sector has registered an average annual growth of 4% during last five years. As far as global experience is concerned, share of agriculture in the world's GDP has also declined over the decades and stands at about 4% in recent years," he added.
The minister said the government has adopted/implemented several developmental programmes, schemes, reforms and policies towards increasing agricultural productivity, enhancing resource use efficiency, promoting sustainable agriculture, strengthening infrastructure and ensuring remunerative prices to farmers.
He highlighted that the PM-KISAN scheme was launched in 2019. It is an income support scheme providing Rs 6,000 per year in three equal instalments.
"More than Rs 2.81 lakh crore has been released so far to more than 11 crore farmers as on November 30, 2023," Munda said.
Edited by Megha Reddy
MOST VIEWED STORIES
