Question

Agricultural and allied sector activities account for ______________ percent of the country's gross value added (GVA) for the year 2019-20 (at current price).

• A. 21.3
• B. 13.7
• C. 11.9
• D. 17.8

Hint:

Share of agriculture in GVA typically hovers between 15% and 20% in recent years. Always keep track of the latest Economic Survey updates for these figures as they vary slightly between "constant" and "current" prices.

Answer 1

The Correct Option is D

Step 1: Understanding the Question:
The question asks for the specific percentage contribution of the agriculture and allied sectors to India's Gross Value Added (GVA) for the fiscal year 2019-20, calculated at current prices.

Step 2: Key Formula or Approach:
The data is derived from the Economic Survey of India and official statistics provided by the Ministry of Statistics and Programme Implementation (MoSPI).
Gross Value Added (GVA) is defined as the value of output minus the value of intermediate consumption.

Step 3: Detailed Explanation:

• The share of the agriculture and allied sectors in the total GVA of the economy has a significant impact on the country's GDP and economic planning.

• According to the Economic Survey 2020-21, the share of agriculture and allied sectors in the total GVA of the country at current prices for the year 2019-20 was approximately 17.8 percent.

• This sector includes crops, livestock, forestry, and fishing. While the percentage has seen a long-term downward trend as the industrial and service sectors grow, it remains the backbone of the Indian economy, providing livelihoods for a large portion of the population.

• The importance of this sector was particularly highlighted during the COVID-19 pandemic, where it showed resilience compared to other sectors.

• Knowing the exact figure for a specific fiscal year is crucial for policy analysts and students of Home Science and Economics.

Step 4: Final Answer:
The correct percentage for the year 2019-20 at current prices is 17.8.