A Good Southwest Monsoon likely to boost Farmer’s Empowerment
A substantial monsoon not just accounts for a good harvest but it is also essential for a country’s food security. It ensures food availability for the growing population of the country. Moreover, a good rainfall also opens up a new array of opportunities for the investors in agri space, which in turn will give the boost to the entire agricultural sector, leading to farmer’s empowerment.
As per the statistics by NITI Aayog, the agricultural sector is growing 60 per cent more as compared to the non-agricultural sector owing to the normal monsoon this year that has accounted for 40-60 percent higher rainfall against the backdrop of last year. At this rate the agricultural sector is estimated to grow at 3 percent in 2020-21 despite the COVID-19 lockdown.
In the midst of economic slowdown, agriculture sector can be perceived to be a comforting prospect where 17 percent of Indian economy is constituted by the agricultural sector which is higher than manufacturing sectors.Continue Reading