Economy News

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. This has enabled agriculture and allied activities sector to contribute significantly towards country's overall growth, development and food security, says the Economic Survey 2022-23. Further in recent years the country has emerged as the net exporter of agricultural products, with exports in 2021-22 touching a record US $ 50.2 billion.

The Government has been increasing the MSP for all 22 Kharif, Rabi and other commercial crops with a margin of at least 50 per cent over the all-India weighted average cost of production since the agricultural year 2018-19, says the Survey. Relatively higher MSP was given to pulses and oilseeds in order to keep pace with the changing dietary patterns and achieve the goal of self-sufficiency.

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