<h1>India's Agriculture Sees 4.18% Growth Despite Monsoon Setbacks; Calls for High-Value Transition and Private Investment.</h1> The Economic Survey 2023-24 reports that India's agriculture sector has experienced an average annual growth rate of 4.18% over the past five years, despite a reduced growth rate of 1.4% in 2023-24 due to poor monsoons. The survey emphasizes the need for smallholder farmers to transition to high-value agriculture and highlights the importance of increased private sector investment. Foodgrain production reached a record high in 2022-23, while oilseed production and domestic edible oil availability have also increased, reducing import dependency. Initiatives like e-NAM and Pradhan Mantri Fasal Bima Yojana aim to improve market efficiency and provide financial security to farmers.