Which of the following sentences is/are true?
i. The projected growth rate of the Indian agriculture sector for FY 2022-23 was 5.5%.
ii. During the Financial Year 2021-22, agricultural exports of India reached to about US$ 50.2 billion.
iii. During Kharif Marketing Season 2021-22, 581.7 lakh metric tons of rice was procured in India.

Correct option is B

The correct answer is (B) Only ii and iii.

Explanation:

• The projected growth rate of the Indian agriculture sector for FY 2022-23 was 3.9%, not 5.5%.
• India’s agricultural exports during the Financial Year 2021-22 did reach about US$ 50.2 billion.
• During the Kharif Marketing Season 2021-22, the procurement of rice was 581.7 lakh metric tons.

Information Booster:

• Indian Agriculture Growth:

  • Projected growth rate of agriculture sector for FY 2022-23: 3.9%, driven by favorable monsoons and improved crop productivity.
  • Agriculture sector contributes around 17-18% to India’s GDP.
  • The Pradhan Mantri Fasal Bima Yojana (PMFBY) was launched to provide insurance cover to farmers.

• Agricultural Exports:

  • India’s agricultural exports in FY 2021-22 reached US$ 50.2 billion, reflecting an increase of 19.92% over the previous year.
  • Major agricultural exports include rice, spices, tea, fruits, and vegetables.
  • Rice is India’s largest agricultural export, accounting for a major share of agricultural exports globally.

• Rice Procurement:

  • During the Kharif Marketing Season 2021-22, 581.7 lakh metric tons of rice was procured, ensuring sufficient stock for the Public Distribution System (PDS).
  • The procurement of rice in India is managed by the Food Corporation of India (FCI) and other state agencies.
  • The minimum support price (MSP) of rice is reviewed annually by the government to ensure fair prices for farmers.

• Government Schemes & Support:

  • The National Food Security Mission (NFSM) aims to increase the production of rice and other essential crops.
  • PM-KISAN provides direct income support to farmers, benefiting millions of agricultural families in India.
  • The Agricultural and Processed Food Products Export Development Authority (APEDA) promotes agricultural exports.