Economy Survey pegs agriculture sector to grow at 5.4%

The Economic Survey on Friday pegged the country's agriculture sector growth at 5.4 per cent this financial year, against 0.4 per cent in the previous year.

The Survey also called for a "Second Green Revolution with technological breakthrough in the agriculture sector" to boost farm output and ensure the food security of the country.

"Agriculture likely to grow at 5.4 per cent in 2010-11," said the Survey, which was tabled in Parliament on Friday.

The growth of the agriculture and allied sector is expected to be higher this year on the back of a revival in foodgrains production in the 2010-11 crop year (July-June) following a good monsoon.

Foodgrains production is estimated to rise to 232.07 million tonnes in 2010-11 crop year from 218.11 million tonnes last year. The country is all set to harvest a record wheat, pulses and cotton crop this year.

In the 2009-10 crop year, farm sector growth was only 0.4 per cent due to severe drought in 2009, which hit almost half the country, reducing foodgrain production by 16 million tonnes.