India’s agriculture sector has been witnessing robust growth with an average annual growth rate of 4.6 per cent over the last six years.
The Economic Survey 2022-23 said that this has enabled agriculture and allied activities sector to contribute significantly towards country’s overall growth, development and food security.
It said, in recent years the country has emerged as the net exporter of agricultural products, with exports touching a record over 50 billion US dollar in 2021-22.
The Survey attributes the sector’s growth and buoyancy to the measures taken by the government to augment crop and livestock productivity, ensure certainty of returns to the farmers through price support and focused interventions to enhance credit availability.
The Survey observes that these interventions are in line with the recommendations of the committee on doubling of farmers’ Income. The Survey points out that 11.3 crore farmers received income support from the Government under the April to July 2022-23 cycle of PM KISAN. The Government has set a target of 18.5 lakh crore rupees in agricultural credit flow in 2022-23.