Chetan Ghate (for Info only, not official)


Chetan Ghate

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    ...In India, the combined agriculture sector (agriculture, forestry and fishing) comprises 17% of GDP, or gross domestic product (at constant 2013-14 prices). The employment share of the agriculture sector in India is also large: 47% in 2013-14. The government periodically intervenes in the agricultural sector, especially in the foodgrain market, by directly procuring grain from farmers to create a buffer grain stock to smoothen price volatility and for redistribution. The blue line in chart 1 shows the net grain procured (procured-distributed) of rice and wheat in million tonnes by the government. The average amount of net grain procured per year was approximately 13 million tonnes during the 1992-2014 period (8% of total production), while gross procurement averaged 23.5% during the same period. The red line denotes inflation corresponding to the consumer price index for agricultural labourers (CPI-AL). ...

    Live Mint on Oct. 20, 2016, 1:35 a.m.