The country is receiving good rainfall this year. This will result in good crops for farmers and increase the production of grains in the country. Experts say that agricultural production may increase by 5% this year.
NITI Aayog member Professor Ramesh Chand has said that due to 2% more rainfall than normal this year so far, agricultural production will increase by about 5 percent in this financial year, which was 1.4% in the last financial year 2023-24. This is expected to reduce the prices of many commodities including pulses, which have remained high for the last several months.
According to Mint’s report, Ramesh Chand said that for a strong increase in agricultural production, the government needs to intervene. So that the price of pulses in the open market does not fall below the support price. Which is fixed to support the farmers. Due to the high prices of pulses, many administrative steps have been taken in the recent days to reduce the local prices.
Positive signs
Expert Ramesh Chand said that agricultural production grew by 1.4% in the year 2023-24, which is after an average growth of 5% for more than seven years. He has also served as the director of the National Institute of Agricultural Economics and Policy Research (NIAP), a premier institute under the Indian Council of Agricultural Research (ICAR). He said that according to him, agricultural production should increase by more than 5% in the financial year 2024-25. So far the signs of the Kharif season are positive.
These are important things
Ramesh Chand said in his interview that the growth rate in agriculture needs to be maintained at 5% per annum for the next 10 years for good economic growth. In some years, the growth rate may come down to around 4% or even below. The Kharif season begins with the onset of the southwest monsoon in June-July and ends in September-October. It plays an important role in determining farmers’ income, consumption and overall economic growth.
La Nina active in August
Between June 1 and July 26, India received 2% more rainfall than normal. There is a slight deficit in some parts, but it is expected to make up in August. Ramesh Chand told Mint that above normal rainfall is considered to be 96% to 104% of normal rainfall. La Nina will remain active in August, leading to above normal rainfall. This should compensate for any shortfall in the northwestern and eastern states.
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