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  • Agriculture sector poised to grow at 5.4 pc in current fiscal

    Published on February 26, 2011

    Agriculture sector is poised to grow at the rate of 5.4 percent during the current fiscal. According to advanced estimates, things are looking bright in the current year with a relatively good monsoon. The agriculture and allied sector registered a growth of 3.4 percent during the first half of the current year as compared to 1.4 percent growth registered during the same period in the last financial year. The Economic Survey presented in Parliament on Friday said that there is a marked improvement in the gross capital formation (GCF) in agriculture sector.

    The Survey has pointed out that increasing agriculture productivity is a necessary not only for ensuring food security but also for sustaining the high levels of growth. It says that concerted and focussed efforts are required for addressing the challenge of stagnating productivity levels in agriculture. It has suggested a holistic approach, including renewed agricultural research, dissemination of technology, better inputs such as quality seeds, fertilizers and modern irrigation facilities.

    Expressing concern over stagnation of capital investment in the sector, it says both private and public sector should increase investment in agriculture sector in a sustained way.

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