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Class 11 Economics - Contribution of agriculture sector in Indian Economy - Chapter 2

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Today Let's Discuss about the Importance of Agriculture in Indian Economy.

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#automobile #economics #class_11 #chse #cbse #ias #oas

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Point 1
Contribution to national Income: -
In 1950 the contribution of agriculture to Indian Economy was 56%. If we talk about today this contribution is around 15% of GDP. As compared to the developed countries this contribution is only less than 5%. In this regard India has to far way to go.

Point 2
Agriculture and the pattern of Employment: - Agriculture is a major source of livelihood in India. According to the data of 1951 around 70% working population was engaged in agriculture. As per the present condition the total engagement is still around 49%, which is still very high if we compare it with developed countries where it is only 2 to 3 %. This high engagement of agriculture sector is due to extreme pressure of population growth and slow growth of industrial sector.

point 3-
Importance in international trade: -
Contribution of Indian agriculture trade is very remarkable, which is around 15% in present day. The products which are being exported are Tea, Coffee, rice, jute, spices and fish etc.
India is within top 15 agri product exporter in the world.

point 4-
Suppy of food, fodder and fuel: -

As India is the highest populated country, Agriculture product feed the Full human population which is already more than 140 crores along with the second highest cattle population. It also give fuel to around 83cr rural population.

Around 75 percent of total consumer expenditure incurred on agri- products and 60% on food items.

Point 5-
Importance in Industrial development: -

Indian agriculture plays an important role in industrial development like for paper, sugar, tea, vegetable oil, jute, cotton textile etc. Apart from these many collage industry also grow like coir, handloom, food processing, furniture making etc.

Many Industries also develop in support, like tractor, power tiller, water pump, fertilizer, pesticide etc.

Point 6-
Importance in price stability : -

Stability in general price level is highly depend on the agricultural production because 75% of our consumer expenditure are on Agricultural Products where as 60% on food items.That's why for price stability favourable monsoon and high agriculture productivity is very much important.

Point 7-
Distinguished unemployment : - Agriculture sector holding a large population of distinguished unemployed workforce, those productivity is almost zero and can be withdrawn without effecting the agricultural output. These population can be utilised in other sectors to increase the productivity of the nation.

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