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State of the Economy 5
Manufacturing -2.4 -7.2 12.5 104.4
Electricity, gas, water supply & 2.1 1.9 8.5 110.5
other utility services
Construction 1.0 -8.6 10.7 101.2
Services 7.2 -8.4 8.2 99.2
Trade, hotels, transport, 6.4 -18.2 11.9 91.5
communication and services
related to broadcasting
Financial, real estate & 7.3 -1.5 4.0 102.5
professional services
Public administration, defence 8.3 -4.6 10.7 105.6
and Other Services
GVA at basic price 4.1 -6.2 8.6 101.9
Source: NSO
Note: RE - Revised Estimates, PE - Provisional Estimates, AE - Advance Estimates
1.4 As shown in Figures 5 and 6 below, the area sown under Kharif and Rabi crops, and
the production of wheat and rice has been steadily increasing over the years. In line with the
longer term trend, the area sown in the Kharif cycle of 2021-22 was again higher than in the
previous year (the Rabi cycle data was incomplete at the time of writing). In the current year,
food grains production for the Kharif season is estimated to post a record level of 150.5 million
tonnes. Procurement of food grains under the central pool accordingly maintained its rising
trend in 2021-22 along with minimum support prices, which augur well for national food
security and farmers’ incomes. Importantly, the strong performance of the sector was supported
by Government policies that ensured timely supplies of seed and fertilizers despite pandemic
related disruptions. It was also helped by good monsoon rains as reflected in reservoir levels
being higher than the 10-year average (Figure 4).
Figure 3: Real GVA of Agriculture Figure 4: Reservoir Levels
& Allied Sectors
Current live storage Last 10 years average
100
80
Per cent of FRL 60
40
20
0
Jan/19 Jun/19 Nov/19 Apr/20 Sep/20 Feb/21 Jul/21 Dec/21
Source: NSO, Central Water Commission
Note: FRL stands for Full Reservoir Level