Karnataka's agricultural sector had rough sailing recently, with a growth rate (rate of decline?) in GSDP from the crop economy reported in the Economic Survey as -1.7% (2022-23) and -5.6% (2023-24).
The methodology of reporting our Economic Survey of 2023-24 and the YoY growth of the agricultural sector, which depends every year on the monsoon, needs a change. It is pretty clear that in the coming year, we must either firmly provide stimulus to the primary sector or be ready for 65 lakh cultivators under severe distress.
Historically, Karnataka's economy is relatively buoyant and has emerged like a phoenix from severe shocks over the years despite frequent visitations of droughts, a large share of rainfed areas, low availability of irrigation and the absence of a long-term policy perspective, the state's agricultural economy has shown significant suppleness over the years.
This story is from the January 01, 2025 edition of The New Indian Express Bengaluru.
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This story is from the January 01, 2025 edition of The New Indian Express Bengaluru.
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