Govt predicts farm sector growth at 2.6% this fiscal

Govt predicts farm sector growth at 2.6% this fiscal
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First Published: Mon, Feb 09 2009. 04 52 PM IST
Updated: Mon, Feb 09 2009. 04 52 PM IST
By PTI
New Delhi: The government today pegged growth forecast for the farm sector at just 2.6% for 2008-09, though the agriculture ministry hopes the pace of expansion may accelerate if weather remains favourable.
But the ministry has reconciled to the fact that the targeted growth rate of 4% may not be achieved this year.
“Four per cent growth rate will not be achieved, but it may go up from 2.6%,” a top government official said, adding that a clearer picture would emerge only after the rabi harvest.
Commenting on the Central Statistical Organisation (CSO) estimate of 2.6% for the farm sector, he said, “It looks OK seeing the weather conditions last year.”
Rabi crops start arriving in the markets from March. The next 15-20 days are crucial for good production this year as far as temperature and other weather conditions are concerned, a senior official said.
In a statement, CSO said that the agriculture, forestry and fishing sector is likely to show a growth rate of 2.6% during 2008-09 against previous year’s 4.9%. The country witnessed a record foodgrain production of 230.67 million tonnes last year.
The projection is based on “anticipated growth rates of 6% in horticultural crops, 5.5% in the livestock products and 6% in fisheries”, it added.
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First Published: Mon, Feb 09 2009. 04 52 PM IST