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Agriculture: Jan 2011

January, 2011

India’s agricultural policy focuses on food self-sufficiency, remunerative prices for farmers, and maintenance of stable prices for consumers. These goals are met by a number of measures such as—minimum support prices (MSP), food subsidies for consumers, regulated markets, input subsidies for producers, and international trade policy. The Government’s Eleventh Five Year Plan (2007–2012), focuses on inclusive growth, and rests upon substantial increase in public sector outlay. In the Eleventh Plan, the public sector outlay towards agriculture and allied activities stands at US$ 29.6 billion (INR 1,363.8 billion).

The share of agriculture and allied services in gross domestic product (GDP) has been estimated at 14.6 per cent in 2009–2010, as the dependence of the economy has shifted to the service sector and industry.

Total investment in the agriculture and allied sectors in 2008–09 has amounted to US$ 28.87 billion (INR 1,386 billion), of which the private sector accounted for 82 per cent (US$ 23.78 billion).

Moreover, agriculture is expected to be a point of focus for the private sector in India, as a number of private players are expected to venture into organic farming, contract farming, besides setting up hubs for the procurement of farm produce, with increased private equity (PE) investment in the food processing and agri-based companies is also expected to boost further employment in this sector. PE players have invested US$ 300 million in these companies during January–June 2010.

Sectoral Presentation (November 2010)

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