An Outlook on Growth of Dairy Sector and its Contribution to Indian Economy

Abstract

The present research paper was carried out to assess the growth of dairy sector and its contribution to Indian economy. The study is descriptive in nature and based on secondary data which obtained from various secondary sources like Economic Survey, Ministry of Finance, GoI; BAHS, Ministry of Agriculture, GoI and ISS Report, Directorate of Animal and Veterinary Services, Government of Tamil Nadu. The basic statistical tools such as percentage analysis and continuous annual growth rate were used. The results revealed that the percentage change in bovine population of India and Tamil Nadu showed negative trend over the period except during the year 2007. The annual compound growth rate for milk production in India showed the increasing trend for the period 1983-84 to 1992-93 and was at 4.56 and was 5.44 for the period 2012-2013 to 2016-17. The annual compound growth rate for milk production in Tamil Nadu for the period 1987-88 to 1996-97 was 2.77 and was 1.62 for the period 2007-2008 to 2016-2017. The value of output from dairy sector was more than Rs. 549 billions and accounts for 67.69 per cent of the value of the livestock sector output in the year 2015-16.