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Income of Odisha farmers upgraded by seven times in 13 years

The draft approach expresses that contrasting the CAGR and other Indian States, Odisha’s development rate rises as the most astounding in the nation during that period.

Income of Odisha farmers developed in excess of multiple times over a range of 13 years, the Naveen Patnaik government has asserted. The administration, in its as of late discharged draft Agriculture Policy 2019, says a normal Odisha farmer earned around ₹7,731 every month, or around ₹92,772 every year.

Draft Policy

It states, “In 2002-03, his average monthly income was ₹1,062, which means that in the 13 years between 2002-03 and 2015-16, Odisha farmers’ incomes grew more than seven times or at a CAGR (compound annual growth rate) of 16.5% in nominal terms and 8.4% in real terms.”

The draft approach expresses that contrasting the CAGR and other Indian States, Odisha’s development rate rises as the most astounding in the nation during that period.

“During the same period, average Indian farmer’s income grew from ₹2,115 to ₹8,931 which is at a CAGR of 11.7% in nominal and 3.7% in real terms. Odisha is fast catching up with other Indian States. Odisha’s farmer incomes grew much faster than even the rate at which its own agricultural GDP grew,” it states.

As indicated by the draft strategy, between 2002-03 and 2015-16, Odisha’s horticultural GDP developed at a CAGR of 3.7% and its rancher salaries developed at more than twofold that rate at 8.4%. Odisha is to a great extent a rustic agrarian economy. Near 83% of its kin live in rustic zones and about 61.8% of its 17.5 million work-power is utilized in farming.

In the a long time since the start of this century (2000-01 to 2016-17), Odisha’s rural GDP almost multiplied in genuine terms, timing a normal yearly development pace of about 4.5%, higher than the India average of 3.1%.

The State represents 3% of India’s agricultural GDP.

Editorial Desk at Agrigate.Global

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