Forecasting with Econometric Methods

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Forecasting is an important aid in effective and efficient planning. It is an attempt to predict the feature by examining the past. The main purpose of making a forecast is to gain knowledge about uncertain events that are important to our present decisions. In the present study, an attempt has been made to forecast the production of prime food grains of Indian Agriculture sector like Rice, Wheat, Pulses and Oil seeds by using different types of ARIMA models. And also to fit the best suited time series model for the data collected with the help of forecasting accuracy measures.