Real agricultural growth to rise 1.1% in FY16 : Nomura

Q.  Nomura has estimated that GVA of India is expected to rise by what percent in 2015-2016?
- Published on 12 May 16

a. 1.1
b. 1.2
c. 1.3
d. 1.4

ANSWER: 1.1
 
Real agricultural growth is expected to rise 1.1 percent in 2015-2016 despite below normal monsoon in the previous year, as per Nomura report. The Japanese financial services major has indicated that the ongoing diversification in the agriculture sector reduced volatility in farm income and agricultural outputs.
  • Composition of Indian agriculture changes from largely food-grain dominated sector to other core and ancillary activities such as horticulture and livestock.
  • Reduced dependence on food-grain output is a reason why volatility in agricultural GDP growth has moderated.
  • Despite below normal monsoon rainfall in 2015, real agriculture GVA growth is projected to rise 1.1 percent in FY16.

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