New Delhi, Aug 31: Gross Value Added (GVA) growth in agriculture and allied activities in the first quarter of the 2024-25 financial year (Q1FY25) dipped to 2.7 per cent at constant prices from 4.2 per cent in Q1FY24 due to a drop in output of some crops following heatwave in the main growing months.
Low post-monsoon rains in 2023, which dried most of the reservoirs in several states across the country, also impacted the production of many crops. At current prices, the growth was estimated at 8.5 per cent as against 4.1 per cent in Q1FY24 due to a spike in food inflation during the April to June months of FY25.
However, most experts feel that the pace of growth in the agriculture and allied activities GVA in the months to come will strongly pick up pace as the southwest monsoon in 2024 has been among the best in recent years.
The rainfall from June 1 to August 30 this year has been 7 per cent more than normal. As a consequence, the acreage of kharif crops till August 23, 2024, was almost 2 per cent more than the same period last year.
