Time Series Analysis of the Contribution of Livestock  Sector to the National Economy

Dr. A. Serma Saravana; Dr. M. Prabu; Dr. G. Senthilkumar

Volume : III, Issue : III, March - 2013

Time Series Analysis of the Contribution of Livestock Sector to the National Economy

Dr. A. Serma Saravana, Dr. M. Prabu, Dr. G. Senthilkumar

Abstract :

Livestock are an important source of income and employment in rural areas. Besides complementing and supplementing agriculture, animal husbandry often provides security to farmers, especially when agriculture fails. Livestock sector has the potential to address issues of poverty reduction, protein–energy balancing and achieving much needed inclusive growth of agricultural sector. Keeping all these things in mind, the study on time series analysis of the contribution of livestock sector to the national economy was conducted.The time series data pertaining to the contribution of various primary sectors of economy viz., agriculture, livestock and fishery were collected from the National accounts statistics, CSO, Ministry of statistics and programme implementation. The data collected was tabulated and analysed by percentage analysis. The contribution of livestock sector to the country’s GDP was 4.36 per cent of the total GDP in the year 2006–07. Contribution of livestock sub–sector to agricultural GDP has shown an impressive growth in the last three decades from just less than 20 per cent in the 1985–86 to 26.07 per cent in 2006–07, while the contribution of agricultural sector to total GDP was in decreasing trend from 27.52 per cent to 16.74 per cent during the same period.