Agriculture contributes to the GDP increase in India

NEW DELHI: The agricultural sector of India has contributed to the gross domestic product’s (GDP) increase in the country. Agricultural sector has performed well as a result of the good rains which the country received during the monsoon season.

Agricultural sector will contribute around 5.4 per cent out of the total 8.6 per cent GDP growth expected by the country in the fiscal year 2011-2012. The government had increased the minimum support prices of rabi crops in October, 2010. The price of pulses was increased by Rs 380 per quintal. The prices of gram and chana were also increased by Rs 340 per quintal and Rs 2100 per quintal respectively. The price of wheat was increased by Rs 20 per quintal.

“All along I was maintaining, it should be around 8.5 per cent plus. 8.6 per cent is accepted. Now the other issue is inflation, trade balance... these are to be addressed,” said, Pranab Mukherjee, Finance Minister, India.