New Delhi, July 23: The Prime Minister’s Economic Advisory Council today pegged the farm sector growth rate at 4.5 per cent for 2010-11 fiscal on the expectation of a strong rebound in foodgrains output on the back of good monsoon.
The agriculture and allied sectors grew by mere 0.2 per cent in last fiscal due to a widespread drought which caused a 16 million tonnes or nearly seven per cent dip in foodgrains production from a record of 234.47 million tonnes in 2008-09.
“On the basis of a normal monsoon forecast by the Met Department, one may reasonably expect a strong rebound in crop output in kharif and rabi in 2010-11,” Prime Minister’s Economic Advisory Council (PMEAC) said in its economic outlook for the current fiscal.
–Agencies