India's Farm Sector Hits Record Growth, Key to Viksit Bharat 2047 Vision

The report, authored by Professor Ramesh Chand, Member, NITI Aayog, emphasised two principal pillars of this vision: raising per capita income to the level of developed economies and ensuring inclusive development, or "Sabka Vikas."

"The period from 2014-15 to 2024-25 represents the highest growth phase in India's agricultural history, marked by strong and sustained expansion of the sector. This growth has been demand-led and increasingly diversified towards high-value crops and allied sectors, reflecting structural transformation within agriculture," said the report.

During this period, agriculture has also demonstrated enhanced stability and resilience, even amid climatic and global economic uncertainties.

"At the same time, the sector has absorbed a rapidly expanding workforce, particularly women, underscoring its continuing socio-economic importance. Taken together, these trends indicate that sustained agricultural progress will play a pivotal role in realising the national vision of 'Viksit Bharat @2047'," it added.

Growth in GVA agriculture and allied activities accelerated after 2004-05 and further after 2014-15. Annual growth during 2015-16 to 2024-25 reached a historically highest level of 4.45 per cent. This is the highest growth in the last decade among major agricultural countries.

India's agricultural growth during 2015-2024 was 4.42 per cent, surpassing China's 4.10 per cent, said the report.

Instability in the growth of GVA agriculture and allied activities peaked in the 1980s and declined steadily thereafter. Instability in recent years is one-third of the peak level of the 1980s. Agriculture income did not witness a single year with negative growth during 2015-16 to 2024-25. The agriculture sector defied Covid, which failed to cause adverse effects on agriculture, unlike the non-agriculture sector, the report highlighted.

Livestock and fisheries recorded much higher growth than the crop sector. Fisheries witnessed close to 9 per cent growth, more than three times the growth of the crop sector.

Forestry growth turned positive after 2014-15 with close to 4 per cent growth. Within crops, fodder and grasses grew at 7.39 per cent, condiments and spices at 6.72 per cent, fruits at 3.68 per cent, pulses at 3.55 per cent, oilseeds at 2.47 per cent, while cereals grew at 2.36 per cent. High-value products followed much higher growth compared to cereals, oilseeds and common vegetables, according to the report.

The report further stated that during 2014-15 to 2023-24, the income of agricultural producers grew at 10.11 per cent annually, higher than that of manufacturing and the total economy. Farmers' income increased by 126 per cent in 10 years. Producers' income rose by 108 per cent between 2015-16 and 2022-23.

- IANS