• UGI USER
  • Apr 17, 2024
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NITI AAYOG PREDICTS FARM SECTOR GROWTH OVER 6% IN FY25.

Why in the news?

Good monsoon predictions and low base from previous year suggest agriculture sector growth exceeding 6%, according to NITI Aayog.

source:slideserve

About the Farm Sector Growth Outlook:

  • Positive Predictions: NITI Aayog’s Ramesh Chand forecasts over 6% growth in agriculture and allied sectors for 2024-25.
  • Factors Driving Growth: Favourable monsoon forecasts and a low base from the previous year contribute to optimistic projections.
  • Historical Trends: Chand notes that whenever such a combination occurred in the past, farm sector growth exceeded 6%.
What is  NITI Aayog ?

  • Formed on January 1, 2015, NITI Aayog stands for “National Institution for Transforming India.”
  • Aims to bolster economic growth and construct a strong state for a dynamic nation.
  • Comprises “Team India Hub” and “Knowledge and Innovation Hub.”

The NITI Aayog is based on the 7 pillars of effective Governance:

  • Pro-people: Meeting societal and individual aspirations.
  • Pro-activity: Anticipating and addressing citizen needs promptly.
  • Participation: Involving citizens in governance processes.
  • Empowering: Especially women.
  • Inclusion: Regardless of caste, creed, or gender.
  • Equality: Offering equal opportunities, particularly to youth.
  • Transparency: Ensuring visibility and responsiveness of government actions.

Source:

https://www.thehindubusinessline.com/economy/agri-business/indias-farm-sector-growth-may-top-6-in-fy25-says-ramesh-chand-of-niti-aayog/article68072382.ece