TAD NewsDesk, New Delhi: The Government prospects an improvement in the agricultural sector after expanded acreage of not only paddy but also better yields and coarse cereals.
The Government stated, on Tuesday, that India will observe a record production of 144.52 million tonnes (MT) for 2020-21 summer crop (July-June). Due to the expanded acreage supporting paddy and more generous yields in pulses and coarse cereals, the Government sought it to be an optimistic approach in agriculture on the economic cloud. Last year, Kharif crop was the highest amounting to 143.38 MT.
The rich Kharif production perhaps builds stress on the Government to buy the crops at the MSPs if market prices drop beneath the benchmark rates on abundant arrivals at mandis.
Amidst the Farm Bills passed by Parliament recently, Prime Minister Narendra Modi declared MSP operations would proceed like before and the Government even propelled the decision of Rabi MSPs.
The Government demands the farm and associated sectors to remain shielded from the Covid-19 influence and to commence an economic recovery, notably in rural areas.
In the June quarter, the Gross Value Added (GVA) in the sector moderately increased 3.4%, every year, while gross GVA contracted by a record 22.8% and the real GDP shrank by 23.9%. The farm sector has witnessed an exhilarating ride in recent years as the GVA growth oscillated from -0.2% in FY15 to 6.8% in FY17. The rate of development was again relieved to just 2.4% by FY19 before dragging up to 4% in the last fiscal year.
Based on the updated sowing data and the arrival of the crops in the market, the Government affirmed crops production evaluated five times.
On Tuesday, under the first approximations of the Kharif crops released, rice production in Kharif 2020-21 is moderately recorded as 102.36 MT, higher than 101.98 MT in the last season. Though the Kharif harvesting season commences from October, few of the early-sown batch begin appearing in mandis in September.
The current estimation of 9.31 MT shows the production of pulses has increased from the last year’s estimated figure of 1.59 MT. Amidst the cash crops, cotton production for this year has been summed up to 37.12 million bales though sugarcane production has expected to 399.83 MT, higher than 355.7 MT from last year.
