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Indian Agriculture status, Importance & Role In Indian Economy

The aggregate growth in the agricultural sector determines that the future of the agrarian economy is not bleak

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Agriculture
Agriculture in India. Wikimedia.
  • Despite people shifting their occupations from agriculture, UN states that India ranks second in the agricultural production in the world
  • India’s horticulture production has also increased

Sep 20, 2017: Indian agriculture is facing a huge crisis since many years. Despite continuous reports suggesting that the agrarian economy of India is getting affected, as people are shifting away from the agricultural sector and are moving towards industrial sector development, the food and agriculture organization of United Nations (UN) has stated that India ranks second in the agricultural production of the World. In the past 11 years, the country’s agricultural production has increased from $87 billion in the financial year 2004-05 to $322 billion in the fiscal year 2015-16.

Interestingly this is not just the only positive point being witnessed about the agricultural situation of the nation. The country’s horticulture production has also increased with the passage of time. The horticultural production includes fruits, vegetables, plantation crops, and spices. The increasing demand of fruits and vegetables has augmented the production estimate to 295 million tonnes in 2016-17, which is 3.2 % higher than the production in 2015-16.

Also Read: WHO says Millions of People are Dying Pre-mature Deaths Due to Non-Communicable Diseases.

Earlier in May, the agriculture ministry released a second advance estimate of horticulture production, stating that the farm area under the horticulture crops has recorded an increase. The increase was from 245 lakh hectares of farm in 2015-16 to 249 lakh hectares in 2016-17. The Indian economy’s earnings from agriculture as compared to the service sector has been absolutely great. The net export from agriculture was noted $16 billion, and those from the commercial service were 9% in 2014.

When the country is facing even greater challenges like farmer suicides, protests, and monsoon failure, figures like these tend to bring smiles on our faces, even if it is for a short time. The aggregate development can never alleviate the plight of farmers.
The percentage growth may satisfy the government and us both, but does it really satisfy the farmers? A wiser approach like good law and order towards the handling of problems and crisis should be taken, and then only can there be a better future in the agriculture.

by Megha Acharya of NewsGram.


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India Gets Assistance of Rs 3,420 Crore From Japan

The project for the construction of Chennai road aims to meet increasing traffic demands in the metropolitan area and installing Intelligent Transport Systems,

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Japan will be giving a loan of Rs 3,420 crore to India to assist in constructing the Chennai Peripheral Ring Road and for joint efforts towards meeting the UN Sustainable Development Goals (SDGs).

“The loan agreements were signed here today (Friday) between the Government of India and Japan International Cooperation Agency (JICA), New Delhi under Japanese Official Development Assistance Loan Program,” the Ministry of Finance said in a statement.

The Japanese ODA loan is for construction of phase one of Chennai Peripheral Ring Road for about Rs 2,470 crore and for Japan-India cooperative actions towards SDGs in India for about Rs 950 crore.

FDI
The Japanese ODA loan is for construction of phase one of Chennai Peripheral Ring Road for about Rs 2,470 crore and for Japan-India cooperative actions towards SDGs in India for about Rs 950 crore. www.trafficchallan.co.in

The agreements were signed by Finance Ministry Additional Secretary C.S. Mohapatra and JICA New Delhi Chief Representative Katsuo Matsumoto, the Ministry said.

Also Read: Now India is One of The Most Open Countries for FDI: Narendra Modi

The project for the construction of Chennai road aims to meet increasing traffic demands in the metropolitan area and installing Intelligent Transport Systems, thereby contributing to mitigation of traffic congestion and promoting Regional Economic Development.

The other program aims to promote SDGs in India, mainly in social development, by supporting the efforts by the Indian government to strengthen the policy framework and implementation mechanism, thereby supporting India in achieving SDGs by 2030, it added.(IANS)