2013 Overview: Business Sectors in India

3. Agriculture

India's agricultural growth for the 2012 was quiet progressive. According to the National Council of Applied Economic Research (NCAER), the Gross Domestic Product rise in agriculture is forecast at 3 percent for the next year. India's food grain production is projected to grow by 0.6 percent to 247.6 million tonnes in 2012-13 as against 246.2 million tonnes in 2011-12.

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A modest growth in output of rice and wheat along with a recovery in production of coarse grains and pulses will be responsible for the overall growth, Centre for Monitoring Indian Economy (CMIE) said, reports PTI. The rice production is projected to exceed 100 million tonnes in 2012-13, while wheat production is pegged at 87.3 million tonnes. The production of coarse grains is projected to rise by 0.7 percent to 42.3 million tonnes in 2012-13. As the meteorological department has predicted a normal monsoon in 2012, the overall agriculture sector did well, but the major crop production is projected to decline by 0.6 percent in 2012-13 due to lower output of cotton and sugarcane production. However, major oilseeds production is expected to grow by three percent in 2012-13. Higher production of groundnuts, safflower and sunflower seeds is expected to drive the growth.

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