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Business Standard
27-06-2025
- Business
- Business Standard
MoSPI releases statistical report on value of output from agriculture and allied sectors
National Statistics Office (NSO), Ministry of Statistics and Programme Implementation (MoSPI) released the annual publication of Statistical Report on Value of Output from Agriculture and Allied Sectors (2011-12 to 2023-24) today. This publication is a comprehensive document which provides detailed tables on values of output of Crop, Livestock, Forestry & logging and Fishing & aquaculture sectors of Agriculture & allied activities from 2011-12 to 2023-24 at both current and constant (2011-12) prices. This detailed publication comes after the major aggregates at all India level have been released in the form of National Accounts Statistics on 28th February 2025. Gross Value Added (GVA) of agriculture and allied sectors at current prices registered a growth of about 225%, increasing from ₹1,502 thousand crore in 2011-12 to ₹4,878 thousand crore in 2023-24. Gross Value of Output (GVO) from the agriculture and allied sector at constant prices has shown steady growth from ₹1,908 thousand crore in 201112 to ₹2,949 thousand crore in 202324, marking an overall increase of approximately 54.6%. Crop sector with GVO at 1,595 thousand crore remains the largest contributor to total GVO (at constant prices) of agriculture and allied sectors with share of 54.1% in 2023-24. Cereals and fruits & vegetables together accounted for 52.5% of total crop GVO in 2023-24. Among the cereals, only paddy and wheat constitute approximately 85% of GVO (at constant prices) of all cereals in 2023-24. Five States namely Uttar Pradesh, Madhya Pradesh, Punjab, Telangana and Haryana contributed nearly 53% of GVO (at constant prices) of cereals in 2023-24. With reduced share (18.6% in 2011-12 to 17.2% in 2023-24) Uttar Pradesh maintained the top most position.
Economic Times
27-06-2025
- Business
- Economic Times
Output of farm sector rises to Rs 29.49 lakh crore in FY24: Govt data
The agriculture and allied sector in India has witnessed substantial growth, with the Gross Value of Output increasing by 54.6% between FY12 and FY24, reaching Rs 29.49 lakh crore. While the crop sector remains the largest contributor, cereals, fruits, and vegetables dominate. Notably, banana's GVO surpassed mango's, and potato continues to lead in the vegetable group. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Popular in Economy 1. After magnets, China now plants agriculture barrier for India The Gross Value of Output (GVO) from the agriculture and allied sector increased 54.6 per cent during FY12 to FY24 to Rs 29.49 lakh crore at constant prices, National Statistics Office (NSO) said on NSO, part of the Ministry of Statistics and Programme Implementation (MoSPI), has released the annual publication of 'Statistical Report on Value of Output from Agriculture and Allied Sectors (2011-12 to 2023-24)'."Gross Value of Output (GVO) from the agriculture and allied sector at constant prices has shown steady growth from Rs 1,908 thousand crore in 2011-12 to Rs 2,949 thousand crore in 2023-24, marking an overall increase of approximately 54.6 pr cent," NSO further said Gross Value Added (GVA) of agriculture and allied sectors at current prices registered a growth of about 225 per cent, increasing from Rs 1,502 thousand crore in 2011-12 to Rs 4,878 thousand crore in publication is a comprehensive document which provides detailed tables on values of output of crop, livestock, forestry and logging, and fishing and aquaculture sectors of agriculture and allied activities from 2011-12 to 2023-24 at both current and constant (2011-12) detailed publication comes after the major aggregates at all-India level have been released in the form of National Accounts Statistics on 28th February 2025, NSO to the data, the crop sector with GVO at Rs 15.95 lakh crore remains the largest contributor to total GVO (at constant prices) of agriculture and allied sectors with share of 54.1 per cent in 2023-24. Cereals and fruits and vegetables together accounted for 52.5 per cent of total crop GVO in the cereals, only paddy and wheat constituted approximately 85 per cent of GVO (at constant prices) of all cereals in states -- Uttar Pradesh, Madhya Pradesh, Punjab, Telangana and Haryana -- contributed nearly 53 per cent of GVO (at constant prices) of cereals in reduced share (18.6 pe cent in 2011-12 to 17.2 per cent in 2023-24), Uttar Pradesh maintained the top most position, according to the NSO the fruit group in 2023-24, constant prices GVO of banana (Rs 47,000 crore) has surpassed that of mango (Rs 46,100 crore). Mango was the top-most contributor in GVO (at constant prices) in fruit group consistently from 2011-12 to remains the top-most contributor in GVO (at constant prices) of vegetable group during 2011-12 to 2023-24. GVO of potato has increased to Rs 37,200 crore in 2023-24 from Rs 21,300 thousand crore in floriculture experienced significant growth in GVO at constant prices, nearly doubling from Rs 17,400 crore in 2011-12 to Rs 28,100 crore in 2023-24, reflecting rising commercial interest and diversification in horticulture.
Time of India
27-06-2025
- Business
- Time of India
Output of farm sector rises to Rs 29.49 lakh crore in FY24: Govt data
The Gross Value of Output (GVO) from the agriculture and allied sector increased 54.6 per cent during FY12 to FY24 to Rs 29.49 lakh crore at constant prices, National Statistics Office (NSO) said on Friday. The NSO, part of the Ministry of Statistics and Programme Implementation (MoSPI), has released the annual publication of 'Statistical Report on Value of Output from Agriculture and Allied Sectors (2011-12 to 2023-24)'. "Gross Value of Output (GVO) from the agriculture and allied sector at constant prices has shown steady growth from Rs 1,908 thousand crore in 2011-12 to Rs 2,949 thousand crore in 2023-24, marking an overall increase of approximately 54.6 pr cent," NSO said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Indonesia: New Container Houses (Prices May Surprise You) Container House | Search ads Search Now Undo It further said Gross Value Added (GVA) of agriculture and allied sectors at current prices registered a growth of about 225 per cent, increasing from Rs 1,502 thousand crore in 2011-12 to Rs 4,878 thousand crore in 2023-24. The publication is a comprehensive document which provides detailed tables on values of output of crop, livestock, forestry and logging, and fishing and aquaculture sectors of agriculture and allied activities from 2011-12 to 2023-24 at both current and constant (2011-12) prices. Live Events The detailed publication comes after the major aggregates at all-India level have been released in the form of National Accounts Statistics on 28th February 2025, NSO said. According to the data, the crop sector with GVO at Rs 15.95 lakh crore remains the largest contributor to total GVO (at constant prices) of agriculture and allied sectors with share of 54.1 per cent in 2023-24. Cereals and fruits and vegetables together accounted for 52.5 per cent of total crop GVO in 2023-24. Among the cereals, only paddy and wheat constituted approximately 85 per cent of GVO (at constant prices) of all cereals in 2023-24. Five states -- Uttar Pradesh, Madhya Pradesh, Punjab, Telangana and Haryana -- contributed nearly 53 per cent of GVO (at constant prices) of cereals in 2023-24. With reduced share (18.6 pe cent in 2011-12 to 17.2 per cent in 2023-24), Uttar Pradesh maintained the top most position, according to the NSO data. In the fruit group in 2023-24, constant prices GVO of banana (Rs 47,000 crore) has surpassed that of mango (Rs 46,100 crore). Mango was the top-most contributor in GVO (at constant prices) in fruit group consistently from 2011-12 to 2021-22. Potato remains the top-most contributor in GVO (at constant prices) of vegetable group during 2011-12 to 2023-24. GVO of potato has increased to Rs 37,200 crore in 2023-24 from Rs 21,300 thousand crore in 2011-12. Also, floriculture experienced significant growth in GVO at constant prices, nearly doubling from Rs 17,400 crore in 2011-12 to Rs 28,100 crore in 2023-24, reflecting rising commercial interest and diversification in horticulture.
NDTV
18-05-2025
- Business
- NDTV
India Emerges As Bright Spot In UN Report Amid Global Economic Slowdown
New Delhi: At a time when the global economy is facing what the United Nations calls a "precarious moment", India has emerged as a rare bright spot. The UN's mid-year update of the World Economic Situation and Prospects projects India's growth at 6.3 per cent in the current fiscal year, the highest among large economies. This momentum is expected to continue into 2026, with growth estimated at 6.4 per cent. In contrast, the global outlook remains subdued amid rising trade tensions, policy uncertainty, and a decline in cross-border investments. Global economic growth is now projected to slow to 2.4 per cent in 2025, down from 2.9 per cent in 2024, and 0.4 percentage points below the January forecast, the report states. Amid global headwinds, India stands out not just for its headline growth figures but for the depth and breadth of its progress, from buoyant capital markets and robust manufacturing to record-breaking exports and a fast-expanding defence sector. These gains are rooted in sound policy choices, strong domestic demand and growing global confidence in India's economic trajectory. The report released in mid-2025 updates the earlier World Economic Situation and Prospects 2025, which came out on January 9, 2025. It is prepared by the Global Economic Monitoring Branch within the Economic Analysis and Policy Division of UN's Department of Economic and Social Affairs (DESA). India's growth is being driven by strong domestic demand and consistent government spending. These factors have supported stable employment and helped contain inflation, which is expected to fall to 4.3 per cent in 2025, staying within the Reserve Bank of India's target range. Financial markets are also reflecting this optimism. Stock indices have shown solid gains, backed by sustained investor confidence. Manufacturing activity is picking up, helped by favourable policies and resilient external demand. Exports, especially in strategic areas like defence production, are expanding steadily. Together, these indicators show that India's economy is not only holding firm but also making headway in an uncertain global environment. India's capital markets have played a key role in driving economic growth. By channelling domestic savings into investments, they have strengthened the financial system. As of December 2024, the stock market hit record highs. It outperformed many emerging markets despite geopolitical tensions and domestic uncertainties. The primary market has been equally active. This robust market has attracted multinational firms like Hyundai and LG to list their local subsidiaries in India. This shift signals that India is no longer just a market but a strategic partner in the global financial ecosystem. India's manufacturing sector has seen impressive growth over the past decade. According to the National Accounts Statistics from the Ministry of Statistics and Programme Implementation, the Gross Value Added or GVA of manufacturing at constant prices nearly doubled, rising from Rs 15.6 lakh crore in 2013-14 to an estimated Rs 27.5 lakh crore in 2023-24. India's total exports reached a record $824.9 billion in 2024-25, up 6.01 per cent from $778.1 billion in 2023-24. This marks a significant leap from $466.22 billion in 2013-14, reflecting sustained growth over the past decade. India's defence production touched a new milestone in the financial year 2023-24, with the value of indigenous manufacturing rising to Rs 1,27,434 crore. This represents a remarkable increase of 174 per cent compared to Rs 46,429 crore in 2014-15. The country's defence exports have also seen exceptional growth. From a modest Rs 686 crore in 2013-14, exports skyrocketed to Rs 23,622 crore in 2024-25. This amounts to a thirty-four-fold increase over the past decade. Indian defence products are now being shipped to nearly 100 countries, reflecting India's rising stature as a global supplier of strategic defence equipment.
Hans India
18-05-2025
- Business
- Hans India
UN report sees India as bright spot amid global slowdown
At a time when the global economy is facing what the United Nations calls a "precarious moment", India has emerged as a rare bright spot. The UN's mid-year update of the World Economic Situation and Prospects projects India's growth at 6.3 per cent in the current fiscal year, the highest among large economies. This momentum is expected to continue into 2026, with growth estimated at 6.4 per cent. In contrast, the global outlook remains subdued amid rising trade tensions, policy uncertainty, and a decline in cross-border investments. Global economic growth is now projected to slow to 2.4 per cent in 2025, down from 2.9 per cent in 2024, and 0.4 percentage points below the January forecast, the report states. Amid global headwinds, India stands out not just for its headline growth figures but for the depth and breadth of its progress, from buoyant capital markets and robust manufacturing to record-breaking exports and a fast-expanding defence sector. These gains are rooted in sound policy choices, strong domestic demand and growing global confidence in India's economic trajectory. The report released in mid-2025 updates the earlier World Economic Situation and Prospects 2025, which came out on January 9, 2025. It is prepared by the Global Economic Monitoring Branch within the Economic Analysis and Policy Division of UN's Department of Economic and Social Affairs (DESA). India's growth is being driven by strong domestic demand and consistent government spending. These factors have supported stable employment and helped contain inflation, which is expected to fall to 4.3 per cent in 2025, staying within the Reserve Bank of India's target range. Financial markets are also reflecting this optimism. Stock indices have shown solid gains, backed by sustained investor confidence. Manufacturing activity is picking up, helped by favourable policies and resilient external demand. Exports, especially in strategic areas like defence production, are expanding steadily. Together, these indicators show that India's economy is not only holding firm but also making headway in an uncertain global environment. India's capital markets have played a key role in driving economic growth. By channelling domestic savings into investments, they have strengthened the financial system. As of December 2024, the stock market hit record highs. It outperformed many emerging markets despite geopolitical tensions and domestic uncertainties. The primary market has been equally active. This robust market has attracted multinational firms like Hyundai and LG to list their local subsidiaries in India. This shift signals that India is no longer just a market but a strategic partner in the global financial ecosystem. India's manufacturing sector has seen impressive growth over the past decade. According to the National Accounts Statistics from the Ministry of Statistics and Programme Implementation, the Gross Value Added or GVA of manufacturing at constant prices nearly doubled, rising from Rs 15.6 lakh crore in 2013-14 to an estimated Rs 27.5 lakh crore in 2023-24. India's total exports reached a record $824.9 billion in 2024–25, up 6.01 per cent from $778.1 billion in 2023–24. This marks a significant leap from $466.22 billion in 2013–14, reflecting sustained growth over the past decade. India's defence production touched a new milestone in the financial year 2023–24, with the value of indigenous manufacturing rising to Rs 1,27,434 crore. This represents a remarkable increase of 174 per cent compared to Rs 46,429 crore in 2014-15. The country's defence exports have also seen exceptional growth. From a modest Rs 686 crore in 2013-14, exports skyrocketed to Rs 23,622 crore in 2024-25. This amounts to a thirty-four-fold increase over the past decade. Indian defence products are now being shipped to nearly 100 countries, reflecting India's rising stature as a global supplier of strategic defence equipment.
