“India is the world’s largest manufacturer of milk, pulses, and jute, and ranks as the second-biggest producer of rice, wheat, sugarcane, groundnut, vegetables, fruit, and cotton. Additionally, India is the world’s highest manufacturer of tractors. The agriculture area is the most effective bright spot at this second which witnessed an impressive growth of 5.9% in Q4 of FY20 on the returned of higher Rabi harvest regardless of nation-extensive lockdown due to the COVID-19 crisis. The Indian economy grew best by way of 3.1% for the duration of the same period because of the contraction of the middle sectors.
Also, the current forecast through Crisil shows agriculture will still depict a positive boom of 2.5%, when GDP may additionally register negative boom.
The overall foodgrain production was estimated at 298 million tonnes, in 2019-20 which is thirteen million tonnes better than a closing year. Over the last 4 years, 2016 to 2019, the FCI (Food Corporation of India) stocks for foodgrains had been maximum in 2019. Now when the opposite pillars, production and services, of the economy have been severely impacted for the duration of COVID-19 crisis, it is very critical to recognize what position agriculture, the oldest and strongest pillar, is going to play for unfolding economic restoration and shaping up the future path.
Now the million-dollar query is: whether or not agriculture will end up the saviour for our economy post-COVID-19 pandemic?
In order to discover solutions to this query, MART carried out a Pan India survey with 430 farmers throughout the united states of America to apprehend the impact of COVID-19 on agriculture and destiny boom prospects inside the wake of revolutionary Agri reforms introduced with the aid of the government.
