Agriculture sector grew by an average 1.6 per cent per annum in first four years of the ongoing Five Year Plan(2012-17) as against the targeted 4 per cent annual growth due to lower production.
"The average annual growth rate of agriculture and allied sector during the first four years of the current Five Year Plan period (2012-17) has been 1.6 per cent as against the 12th plan target of 4 per cent per annum," Minister of State for Agriculture Mohanbhai Kundariya said in a written reply to Lok Sabha.
He attributed the low average growth rate of farm sector to "set back in the annual crop production except for 2013-14 due to deficiency in the monsoon rainfall, moisture stress and unfavourable weather, temperature conditions adversely impacting production of Kharif and rabi crops".
Investment in terms of Gross Capital Formation (GCF) in agriculture and allied sector stood at Rs 2,56,495 crore in 2014-15 fiscal.
"Government has taken several steps for increasing investment in agriculture sector such as enhanced institutional credit to farmers, promotion of scientific warehousing infrastructure for increasing shelf life of agriculture produce, setting up of agri-tech infrastructure fund for making farming competitive and profitable, developing commercial organic farming," the minister said.
Source : Business Std
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