Even today, about 45% of its population is directly involved in the agricultural sector alone. As many as 42.3% of the country's workforce (in 2019-20), is directly employed in this sector. Two recent events - the Covid 19 pandemic and the ongoing geo-political problem in Europe has revealed the necessity of a vibrant agricultural sector in the country for economic stability.
India's agricultural status in the global perspective
India's agriculture covers 11.24% of the total arable land of the world. It has 4% of the world's renewable resources. As of 2020, India feeds about 18% of the world's population which is about 1.38 billion.
Ashok Gulati, Infosys Chair professor at ICRIER and Ritika Juneja, fellow at ICRIER (Indian Council for Research and International Economic Relations) in their research article published a few months ago named 'Indian Agriculture Towards 2030', pointed out many interesting data.
How did India achieve self-sufficiency in food production? The reason is simple. Between 1980-81 and 2019-20, the sector registered an annual growth rate of 3.2%. In that period, India's population growth was 1.7% per annum - a rate that was half of the agricultural food production growth rate. This helped India achieve self-sufficiency in food production. At the same time, labour productivity in agriculture is low. India produces about 16.5% of its GDP with the engagement of 42.3% of the country's workforce. Most of the holding size is very small. The average size of the land holding is 1.08 hectare (in 2015-16).
هذه القصة مأخوذة من طبعة February 1 - 28, 2023 من BUSINESS ECONOMICS.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 8500 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة February 1 - 28, 2023 من BUSINESS ECONOMICS.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 8500 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
A new chapter in Singapore's Leadership: continuity and change
The departure of Prime Minister Lee Hsien Loong marks the beginning of a new era in Singapore, as Lawrence Wong ascends to the post of the country’s fourth Prime Minister.
Disabled children: Education and rehabilitation
Child disability is, in fact, a serious and challenging problem of the world.
India's 2024 Elections: Is it a fight between a macro & micro view of development?
The seven phase massive election process in the largest democracy of the world is on; and the churn throws up hope as well as despair.
Empowering India's workforce: launch of comprehensive skill training programme
Srihari Global IISD Foundation, in collaboration with Birla Open Minds and SAHAJ Retail Private Limited, has launched a groundbreaking skill training program aimed at enhancing employment opportunities and fostering career growth across India.
DVC achieves record power generation in its 75-year journey
The Damodar Valley Corporation (DVC) has accomplished a significant milestone by generating 43.32 billion units of electricity during the fiscal year 2022-23.
"Sticky" inflation is still a global worry!
While major world economies have successfully tackled inflation over the last six months by bringing retail inflation (the monthly consumer price index-based inflation) close to the central bank target rates of 2% with and emerging economies including India’s Reserve Bank of India have achieved some measure of success, all is not well yet.
Emerging alarming trends in India's financial sector
The onset of the new financial year FY25, commencing on April 1, 2024, does not promise any relief from the economic challenges persisting since the previous fiscal year. In recent months, various banks and financial institutions in India, including Bank of Baroda, HDFC Bank, Kotak Mahindra Bank, PayTM, IIFL, JM Financial, and Paisa Lo, have been making headlines for all the wrong reasons.
Economic insights from China
Economic indicators released by Chinese authorities, media outlets, and researchers suggest a recent downturn in China’s economic fundamentals.
Rubber planters confront challenges of declining prices, labour shortages, and erratic monsoons
Natural rubber (NR) stands as a crucial plantation commodity in India.
Is the Indian Tea Industry at a crossroads?
The Indian tea industry marks a significant milestone this year as it celebrates two centuries of journey since its inception.