22
between 6.5% and 7.8% until 2010-11 [Table 2.9(a)]. This is at current prices.
The constant price data on agricultural investment too show broadly the same
trend [Table 2.9(b)], though sharp spikes in agricultural terms of trade are
reflected in the levels of GCF at current and constant prices. This is one part
of the depressing story of agricultural investment.
The other part is the proportion of agricultural GCF in agricultural GDP,
which however, has presented a better picture, particularly when GCF and GDP
are measured at constant prices [Cols. 8 to 10 in Table 2.8(b)]. The GCF to
GDP ratio, which had hovered around 8% to 9% until 1998-99, suddenly shot
up to 13.1% in 1999-2000, increased to the then highest of 14.6% in 2001-02
and slided thereafter to 12.4% in 2003-04. It was at this stage that the renewed
focus on public investment in agriculture came into play, and thereafter the
Table 2.8(d): Share of Capital Expenditure in Total Development
Expenditure of Agriculture
Year
Developmental Expenditure for Agriculture (in
`
crore)
Total
Revenue
Capital
(3) as % of (2) (4) as % of (2)
(1)
(2)
(3)
(4)
(5)
(6)
1985-86
5523
4538
984
82.2
17.8
1986-87
5698
5466
232
95.9
4.1
1987-88
6938
6707
232
96.7
3.3
1988-89
7955
7720
235
97.0
3.0
1989-90
9760
9145
615
93.7
6.3
1990-91
11714
11047
668
94.3
5.7
1991-92
12597
12291
306
97.6
2.4
1992-93
15303
14469
834
94.6
5.4
1993-94
17099
16408
691
96.0
4.0
1994-95
20084
19080
1003
95.0
5.0
1995-96
21636
20624
1012
95.3
4.7
1996-97
22871
22078
793
96.5
3.5
1997-98
26279
24589
1690
93.6
6.4
1998-99
33081
30843
2238
93.2
6.8
1999-00
36320
33733
2588
92.9
7.1
2000-01
35140
27110
3712
77.1
10.6
2001-02
39379
30459
4416
77.3
11.2
2002-03
40175
35108
1842
87.4
4.6
2003-04
45741
40036
2379
87.5
5.2
2004-05
51285
41860
4282
81.6
8.3
2005-06
65023
52884
5543
81.3
8.5
2006-07
81265
63851
7116
78.6
8.8
2007-08
85363
76289
9074
89.4
10.6
2008-09
120583
108151
12432
89.7
10.3
2009-10
127092
110667
16424
87.1
12.9
2010-11R
157475
143834
13641
91.3
8.7
2011-12B
171232
153139
18093
89.4
10.6
Source:
Ministry of Finance (Department of Economic Affairs), Government of India (2012):
Indian Public
Finance Statistics 2011-12
and earlier issues.
