Consider the following statements with reference to the

Solution

The agriculture sector is projected to see a growth of 1.8 per cent in the FY24, a seven-year low, due to poor Kharif harvest and weak initial sowing of Rabi crops, according to the first advance estimates of national income released by the National Statistical Office (NSO). The data also showed that at current prices, GVA for agriculture, forestry and fishing is projected to grow at 5.5 per cent in FY24 as against 12.1 per cent in FY23. As per the first advance estimate released a few months ago, production of rice, the main crop during the Kharif season, could drop by 3.79 per cent in 2023-24 to 106.31 million tonnes as compared to the 110.5 million tonnes as per the final estimate of 2022-23 due to uneven monsoon.