Indian Economy News

Government has set the foodgrain production target of 332 MT for 2023-24

For the crop year (July-June) 2023-24, the government has set a target for foodgrain production of 332 million tonnes (MT), a 2.6% increase from the previous year.

According to the Ministry of Agriculture and Farmers Welfare, the goal includes the production of 29.25 MT of pulses, 44 MT of oilseed, and 17 MT of millets, with strategies being developed in anticipation of El Nino's impact.

The strategy would be to increase the area through intercropping, crop diversification, and adoption of appropriate agronomic practices in the poor-yielding zones. The ministry said in a statement that productivity would also be improved by introducing high-yielding varieties.

Estimates of record production for foodgrains such as rice, maize, legumes, mustard, oilseeds, and sugarcane have been made. According to the government’s second advance estimates, foodgrains production in 2022-23 crop year ending June is pegged at 323.5 MT.

According to Union Minister of Agriculture and Farmers’ Welfare, Mr. Narendra Singh Tomar, the agriculture sector has had strong growth with an average annual growth rate of 4.6% over the past six years, adding to the country's total economic growth. The minister emphasised the significance given by the government on agro-ecological crop planning and diversification away from surplus commodities like rice and wheat towards deficit commodities like oilseeds and pulses.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.