Agriculture In India Economy

This is largely because of the rapid economic growth in services industrial output and non agricultural.

Agriculture university gujarat merit list 2019. About 60 per cent of the total foodgrains and oilseeds production occurs in the kharif season. Agriculture is the only means of living for almost two thirds of the employed class in india. Agriculture is the primary source of livelihood for about 58 of indias population.

Thus the agricultural sector is playing a very important role in a country like india and the prosperity of the indian economy still largely depends on agricultural sector. Agriculture plays a vital role in the indian economy. Between 1970 and 2011 the gdp share of agriculture has fallen from 43 to 16.

Over 70 per cent of the rural households depend on agriculture. The contributory share of agriculture in gross domestic product was 554 percent in 1950 51 52 percent in 1960 61 and is reduced to 185 percent only at present. These rural units fulfill merely local demands.

It has been one of the remarkable success stories of the post. It is time that rural economy depends on agriculture and allied occupations in an underdeveloped country. Agriculture is an important sector of indian economy as it contributes about 17 to the total gdp and provides employment to over 60 of the population.

Gross value added gva by agriculture forestry and fishing was estimated at rs 1948 lakh crore us 27637 billion in fy20 pe. Since agriculture happens be the largest industry in developing country like india it can and must play an important role in pushing up the rate of capital formation. If it fails to do so the whole process economic development will suffer a setback.

Importance of agriculture in indian economy. Indian agriculture is a diverse and extensive sector involving a large number of stakeholders. Thus from the foregoing analysis it is observed that agricultural development is the basic precondition of sectoral diversification and development of the economy.

State of agriculture in economy. To extract surplus from agriculture the following policies are taken. Agriculture has got a prime role in indian economy.

Though the share of agriculture in national income has come down still it has a substantial share in gdp. Indias agricultural economy is undergoing structural changes. In india about 706 of total labour force depends upon agriculture.

Agriculture as the backbone of the indian economy plays the most crucial role in the socio economic sphere of the country. Agriculture sector of indian economy is one of the most significant part of india. Growth in gva in agriculture and allied sectors stood at 4 in fy20.