Wednesday, March 25, 2015

India farm growth for 2014-15 at 1.1%

India farm growth for 2014-15 at 1.1%
The estimated growth rate for India’s agriculture and allied sectors during 2014-15 at 2-11-12 basic prices is at 1.1 percent. As per 2nd Advance Estimates for 2014-15, total foodgrains production in the country is estimated at 257.07 million tonnes which is the fourth highest quantity of annual foodgrains production in the country.

Despite deficiency of 12% in the monsoon rainfall during the year, due to proactive measures of the Ministry of Agriculture, the loss in production has been restricted to just around 3% over the previous year and has exceeded the average production during the last five years by 8.15 million tonnes.

As compared to last year’s record production of 265.57 million tonnes, current year’s production of foodgrains is lower by 8.50 million tonnes. This decline has occurred on account of lower production of rice, coarse cereals and pulses due to erratic rainfall conditions during the monsoon season-2014.

Total production of rice in the country is estimated at 103.04 million tonnes which is lower by 3.61 million tonnes than the last year’s record production of 106.65 million tonnes.

Production of wheat estimated at 95.76 million tonnes is marginally lower than the record production of 95.85 million tonnes of wheat during 2013-14. Total production of Coarse Cereals estimated at 39.83 million tonnes is lower by 3.46 million tonnes than their production during 2013-14.s

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