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Agro sector GDP contribution declining

By Our Reporter
The contribution of the agriculture sector to the Gross Domestic Products (GDP) has been declining annually, thanks to the growth of other sectors.
Agriculture sector’s contribution to the GDP has declined by around 4 per cent in the last three years.
The contribution of the agriculture sector to the GDP has fallen to 27.1 per cent in the current fiscal year while it was 31 per cent in 2015/16. It was 29 per cent in 2016/17
The contribution of the agriculture sector to the GDP was at 36.68 per cent in fiscal year 2010/11 and its contribution to the GDP has been declining gradually thereafter.  It stood at 34.82 per cent in fiscal year 2011/12, while it was 33.40 per cent in 2012/13.  Similarly, it further declined to 32.16 per cent in 2013/14 and 31.27 per cent in fiscal year 2014/15.
The growing contribution of th e service sectors also attributed to the fall of agriculture sector’s contribution to GDP.
Of the total contribution of the agriculture sector to the GDP, the share of paddy, vegetables, wheat, potatoes and lintels is 53.7 per cent.
Even though the contribution of the agriculture sector to the GDP has decreased in terms of percentage, the contribution of agriculture to the GDP has increased in terms of monetary value. Obviously, expansion of service and other sectors has also contributed to the decline of agriculture sector to the GDP.
Experts said it was not bad for the country’s prosperity to reduce the contribution of the agriculture sector to the GDP in terms of percentage. However, other sector like services should be expanded.
The contribution of the service sector to the GDP is 13.3 per cent in the current fiscal year.
The contribution of agriculture to the world’s GDP stands at 6 per cent while the contribution of agriculture to the GDP of USA is 0.2 per cent, of India 13 per cent and of China 9 per cent.

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