Economic Advisor optimistic on resurgence of agricultural sector

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The economic survey 2021-22 says that the gross value added (GVA) growth in the agriculture sector did not have a negative trend even during the pandemic time…reports Asian Lite News

Principal Economic Advisor Sanjeev Sanyal is hopeful about the resurgence in the agriculture sector, saying during the Covid-induced lockdown phases, the agriculture sector was found to the least affected one.

He said this while responding to questions on the economic rebound in the post-pandemic era.

His optimism is seconded by the economic survey data, as during both the lockdown period, the agriculture sector was seen as the least affected sector among others.

The economic survey 2021-22 says that the gross value added (GVA) growth in the agriculture sector did not have a negative trend even during the pandemic time.

In 2019-20, it was 4.3 per cent, whereas in 2020-21, the GVA growth will stand at 3.6 per cent level, which is in 2021-22 at the level of 3.6 per cent.

“When other sectors were badly affected by the supply chain disruption, it was agriculture which was unaffected and stable, so we have reason to bank on agriculture, but yes, we have to work on the supply chain to support this sector, there is need to build more warehouse facilities so that we can ripe the fruit of stability in agriculture,” Sanyal said after the economic survey was released.

“Yes, we know that our agriculture faced a severe seasonality, uncertain monsoon and other factors which forced us to think more realistic while making such predictions,” he added.

The government has released the economic survey which projected India’s GDP growth by 8-8.5 per cent in 2022-23, supported by the widespread vaccination, 93 per cent population with first dose, and about 70 per cent with second dose; easing the regulations through erasing the British era rules which became hurdles in growth, along with strong positive sentiments from the export sector and rising capital expenditure from both, the central and state governments.

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