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Public Investment in Farm Sector Rises in Recent Years

As per the latest estimates supplied by Central Statistics Office (CSO), Public investment/Gross Capital Formation (GCF) in agricultural sector has increased from Rs.9239 crore in 1991-92 to Rs.22095 crore in 2011-12 at 2004-05 prices.

Present rate of public investment (GCF) in 2011-12 in the agriculture and allied sectors is at 3 per cent of agricultural Gross Domestic Product (GDP). As per the draft Twelfth Five Year Plan (2012-17) document, the plan aims to realize public investment in agriculture to 4 per cent of agricultural GDP.

This information was given today by Minister of State for Agriculture and Food Processing Industries, Shri Tariq Anwar in a written reply to Rajya Sabha questions.

In reply to another question, the Minister said : Twelfth Plan aims to continue with the decentralization thrust of Rashtriya Krishi Vikas Yojana while rationalizing the Central Sector and Centrally Sponsored schemes in order to provide more focused attention on food and cash crops and transfer of technology to the farmers, thereby increasing productivity, incomes and welfare of farmers. The main objectives of the plan, inter alia, are: bringing in scale for economic viability through development of Farmer Producer Organizations; emphasizing technology, both on the research and development sides; stressing standards and protocols in schemes; improving statistics and evaluation; initiating a shift towards sustainable and climate resilient agriculture.

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Tags: AgricultureCentral Statistics OfficeCzech Space OfficeFive-year plans of the People's Republic of ChinaFood processingGross domestic productRajya SabhaRashtriya Krishi Vikas Yojana

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