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Decline in Agriculture’s GDP Share in 2023
December 27 , 2023
204 days
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- The share of agriculture in India's GDP declined to 15% last fiscal year from 35% in 1990-91 due to rapid growth in the industrial and service sector.
- The share of agriculture in total Gross Value Added (GVA) of the economy has declined from 35% in 1990-91 to 15% in 2022-23.
- The decline is brought out not by the decline in agricultural GVA but a rapid expansion in industrial and service sector GVA.
- The agriculture and allied sectors have registered an average annual growth of 4% during the last five years.
- The share of agriculture in the world's GDP has also declined over the decades and stands at about 4% in recent years.
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