Which of the following is highlighted as 'encouraging' in terms of economic indicators in the Economic Survey 2024?

The correct answer is Agricultural export growth.

Key Points

• The Economic Survey 2024 highlights agricultural export growth as an encouraging economic indicator, showcasing the resilience of the agricultural sector amidst global uncertainties.
• India has witnessed significant growth in agricultural exports, driven by higher demand for rice, wheat, and processed food products in the global market.
• This growth aligns with the government's objective to achieve doubling farmers' income and enhancing rural economic stability.
• Policies such as the Agriculture Export Policy 2018 and incentives under the Production Linked Incentive (PLI) scheme have strengthened the export ecosystem.
• The robust performance of agricultural exports contributes to India's overall trade balance and supports employment in rural areas.

Additional Information

• Agriculture Export Policy 2018:
  • Aims to boost India’s agricultural exports to $60 billion by 2022.
  • Focuses on diversifying export destinations and promoting high-value and organic farm produce.
  • Encourages infrastructure development such as cold chains and processing units to minimize post-harvest losses.
• Key Agricultural Export Commodities:
  • India is a leading exporter of rice, spices, sugar, cotton, and seafood.
  • Processed food products, including ready-to-eat snacks and beverages, are gaining traction in international markets.
• Role of Production Linked Incentive (PLI) Scheme:
  • The PLI scheme for the food processing sector promotes value addition and enhances export competitiveness.
  • It incentivizes companies to expand manufacturing capacities and invest in technology upgrades.
• Impact of Agricultural Exports:
  • Contributes to foreign exchange earnings and strengthens India’s trade balance.
  • Provides a stable income source for farmers, reducing dependence on domestic price volatility.
  • Enhances India’s global standing as a reliable supplier of food products.