What Is Agriculture In Indian Economy

Though the share of agriculture in national income has come down still it has a substantial share in gdp.

Bsc agriculture last year cut off. 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. The history of agriculture in india dates back to indus valley civilization. As being stated by the economic data of financial year 2006 07 agriculture has acquired 18 percent of indias gdp.

India ranks second worldwide in farm outputs. Agriculture is the only means of living for almost two thirds of the employed class in india. Thus from the foregoing analysis it is observed that agricultural development is the basic precondition of sectoral diversification and development of the economy.

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. As per 2018 agriculture employed more than 50 of the indian work force and contributed 1718 to countrys gdp. According to latest report agriculture is primary source of livelihood for 58 population in india.

Agriculture has got a prime role in indian economy. Agriculture sector of indian economy is one of the most significant part of india. 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.