Agri sector grew 3.9% in 2021-22; credit flow stood at Rs 15.75 L Cr
New Delhi, Jan 31: The agriculture sector saw a marginal rise in growth during the 2021-22 financial year over the previous fiscal at 3.9 per cent, a rise of 0.3 per cent, said the Economic Survey for 2021-22 tabled in Parliament on Monday.
The share of the agriculture and allied sector in total Gross Value Added (GVA) improved to 20.2 per cent in the year 2020-21 and 18.8 per cent in 2021-22. the survey said, stating that livestock, dairying and fisheries were the major contributors of the overall growth trajectory.
The key highlights of the sector has mentioned in the survey are as follows:
- The livestock sector has grown at a CAGR of 8.15 per cent over the last five years ending 2019-20.
- Both public and private investment has remained between 2-3 per cent in the sector, even as the report has favoured increased private corporate investment with appropriate policy framework.
- Foodgrain production is estimated at a record 308.65 million tonnes, 11.15 million tonnes higher than that during 2019-20.
- Oilseed production in India has grown by almost 43 per cent from 2015-16 to 2020-21.
- India is projected to maintain a high per capita vegetable oil consumption growth of 2.6 per cent per annum reaching 14 kg/capita by 2030 necessitating a high import growth of 3.4 per cent per annum.
- The agriculture credit flow for the year 2020-21 was Rs 15,75,398 crore against the target of Rs 15,00,000 crore for the year.
- The agriculture credit flow target for 2021-22 has been fixed at Rs 16,50,000 crore. Till 30th September, 2021, against this target, Rs 7,36,589.05 crore has been disbursed.
- As on 17th January 2022, banks have issued Kisan Credit Card to 2.70 crore eligible farmers.
- Milk production in the country has grown at a compound annual growth rate of about 6.2 per cent to reach 209.96 million tonnes in 2020-21 from 146.31 million tonnes in 2014-15.
- Egg production has increased from 78.48 billion in 2014-15 to 122.11 billion in 2020-21. The per capita availability of egg is at 91 eggs per annum in 2020-21.
- Meat production in the country has increased from 6.69 million tonnes in 2014-15 to 8.80 million tonnes in 2020-21.
- As on December 17, 2021, 76 projects have been approved under the Animal Husbandry Infrastructure Development Fund (AHIDF) scheme involving a project cost of ₹ 1802.28 crore.
- Fisheries sector has demonstrated double-digit average annual growth of 10.87 per cent since 2014-15 with record fish production of 145 lakh tons during 2020-21.
- The farm equipment market in India is estimated at USD 8.8 billion in 2017 and it is expected to reach USD 12.5 billion by 2022. The tractor market is expected to grow at cumulative average growth rate of 7 per cent by 2022.
- The FDI equity inflow into the food processing industry during April to September 2021 was USD 410.62 million in comparison to USD 220.42 million in the corresponding period last year.