Though manufacturing sector of the country recorded a slow down, buoyancy in agricultural sector has lifted India's economic growth to 9.0 per sent in 2007-08 from the earlier projection of 8.7 per cent, making it the third consecutive year of the domestic economy growing above 9.0 per cent level. The Central Statistical Organisation in its revised estimate of national income said that the upward revision of GDP growth rate is mainly on account of revision made in the estimated production of agricultural crops by the Department of Agriculture and Co-operation. Thus, the agriculture and allied sectors have grown more than expectation at 4.5 per cent in 2007-08 as against earlier estimates of just 2.6 per cent. It is important to note that though the contribution of agriculture to our national income presently accounts for even less than 20 per cent, it remains the predominant occupation of more than 60 per cent of our population on the one hand and the crops are most inflation sensitive products on the other. At a time when the whole world is reeling under a run-away inflation caused mostly by scarcity of food products, the importance of agricultural growth in India is self-explanatory. Not only the growth in previous fiscal, the prospect of farm sector in the country is certainly better under normal or near-normal monsoon as currently experienced and could be so expected in the coming days if meteorological forecast is any guide. This is because a major part of cultivable land to the extent of 60 per cent still remains unirrigated in the country where there are also States like Assam with even less than six per cent of gross cropped area is irrigated. Though there are many reasons for low agricultural production in the country with its per hectare yield rate approximately at half the productivity of China and one-third of France, the most important reason is the poor input-base including irrigation and technology. The occasional crop failures are mainly due to droughts in major parts of the country and floods in a number of States. While production of food grains in India during the period between 1970-71 and 2006-07 increased by less than 90 per cent, the consumption demand has increased by around 110 per cent not only due to increased population but also due to increased income and increased demand for processed food products. Since farmers are not getting remunerative prices, many of them are shifting to cash crop cultivation which is more paying. Mismanagement in the supply side is also a major reason for fear of food security. The wastage of agricultural produce is colossal due to bad harvest-timing, inefficient machinery, lack of farm-training and extension services, shortage of storage facility, inordinate exposure to heat and cold and lack of moisture in godowns. While contract farming and land-consolidation should be encouraged, the government must go for large public investment in agricultural infrastructure to ensure a prosperous farm sector in the country.