Laxmi Capital News
Contribution of agri sector to GDP to rise to 27 percent CBS

Agriculture and Forestry sector is estimated tocontribute 27.10 percent to Gross Domestic Product (GDP) of the country in thecurrent fiscal year.

According to National Accounts Statistics of Nepal(2017/18 Annual Estimates) published by Central Bureau of Statistics (CBS), GVAby this sector is estimated to grow by 2.12 percent.

Despite 1.5 percent drop in paddy production, the cropalone is estimated to contribute 20.75 percent of GVA in the current fiscalyear.

According to Ministry of Agriculture, Land Management andCooperatives, the country produced 5.1 million tons of paddy in the currentfiscal year compared to 5.2 million tons in FY2016/17. 

 “GVA by major crops like wheat and maize has alsobeen estimated to increase in the current fiscal year,” added the report.“Agricultural ministry has also estimated that GVA by pulses and fruits willfall down, while GVA by other crops is likely to grow slightly.”

Farm modernization, easy access to seeds and fertilizers,and improved irrigation facility as well as favorable climate are some of thereasons behind slight increase in contribution of agri sector to GDP in thecurrent fiscal year, according to the report.

Source : My Republica, 26th April 2018

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