New Delhi, Aug 4 (IANS): The share of agriculture and allied sectors in Gross Value Added (GVA) of the country, as per the provisional estimates of national income released by National Statistical Office (NSO) as on May 31, 2021, stood at 20.2 per cent for the year 2020-21, the Lok Sabha was told on Tuesday.
The percentage share of GVA of agriculture and allied sectors to total economy for the year 2019-20 was 18.4 per cent, while the same for the year 2018-19 was 17.6 per cent, as per the provisional estimates released by the NSO, Union Agriculture Minister Narendra Singh Tomar told the Lok Sabha in a written reply on Tuesday.
As per the first revised estimates of national income for 2019-20 released on January 29, 2021, the Gross Capital Formation (GCF) in agriculture and allied sectors at current prices during the last three years (latest available) shows that it was Rs 4,46,044 crore in 2019-20, up from Rs 4,07,842 crore in 2018-29 and Rs 3,62,706 crore in 2017-18.
The Centre supplements the efforts of the state governments through various schemes/programmes such as unprecedented enhancement in budget allocation; fixing of MSP at one-and-a-half times the cost of production; increase in procurement from farmers; income support to farmers through PM KISAN; Pradhan Mantri Fasal Bima Yojana (PMFBY); institutional credit for agriculture sector; providing soil health cards to farmers; promotion of organic farming in the country; Neem coating of Urea; agri infrastructure fund promotion of FPOs scheme; National Bee and Honey Mission (NBHM); Pradhan Mantri Krishi Sinchai Yojana (PMKSY), among others.
The government has recently taken several steps for increasing investment and growth in the agriculture sector which include creation of Long-Term Irrigation Fund (LTIF), Micro Irrigation Fund for water use efficiency, promotion of commercial organic farming etc.