Farm sector clocks 4.5% growth in Q1 on robust rabi harvest, price rise

Growth at current prices which touched a high of 17.4 per cent mainly due to sharp spikes in almost all farm commodities in the first quarter of the 2022-23 financial year.

Gross Value Added (GVA) for agriculture and allied activities grew by 4.5 per cent at constant prices during the April-June quarter of FY23. This was driven largely by a robust rabi harvest and sharp spike in the prices of several food items. GVA for agriculture, forestry and fishing during the comparable period of last year had risen by 2.2 per cent.

The long-term average growth for agriculture and allied sectors is 3.5-4 per cent.

What was also noteworthy was the growth at current prices, which touched a high of 17.4 per cent. This was mainly due to sharp spikes