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Farmers’ income grew seven times in 13 years in Odisha

first_imgOdisha farmers’ incomes grew more than seven times over a span of 13 years, the Naveen Patnaik government has claimed.The government, in its recently released draft Agriculture Policy 2019, says an average Odisha farmer earned around ₹7,731 per month, or around ₹92,772 per year.Draft policy“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,” it states.The draft policy states that comparing the CAGR with other Indian States, Odisha’s growth rate emerges as the highest in the country 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 says.According to the draft policy, between 2002-03 and 2015-16, Odisha’s agricultural GDP grew at a CAGR of 3.7% and its farmer incomes grew at more than double that rate at 8.4%.Odisha is largely a rural-agrarian economy. Close to 83% of its people live in rural areas and about 61.8% of its 17.5 million work-force is employed in agriculture. In the 16 years since the beginning of this century (2000-01 to 2016-17), Odisha’s agricultural GDP nearly doubled in real terms, clocking an average annual growth rate of about 4.5%, higher than the India average of 3.1%. The State accounts for 3% of India’s agricultural GDP.last_img read more