1Associate Professor, Department of Economics, Vijayanagara Srikrishnadevaraya University, Ballari. Karnataka. Manojdolli@gmail.com
2Research Scholar, Department of Economics, Vijayanagara Srikrishnadevaraya University, Ballari. Karnataka. divyaks260@gmail.com
Online published on 21 May, 2020.
Agriculture continues to be the mainstay of the Indian economy. Agriculture is described as the backbone of Indian economy mainly because of the three reasons. One, agriculture constitutes large share of country's national income though the share has declined from 55 percent in early 1950s to about 14 percent in early 2019s. Two, more than 2/3rd of workforce of the country were employed in agricultural sector until 1971. Recent economic survey data for the year 2019 indicates that agriculture workers (cultivators and agricultural labourers) account for 50. percent of workforce of India.
Agriculture is an important part of India's economy and at present it is among the top two farm producers in the world. This sector provides approximately 50 percent of the total number of jobs available in India and contributes around 18 percent to the GDP. Agriculture is the only means of living for almost two-thirds of the employed class in India. As being stated by the economic data of financial year 2018–19, agriculture has acquired 18 percent of India's GDP. The agriculture sector of India has occupied almost 43percent of India's geographical area. This This paper tries to understand current Indian agriculture status, importance and role of Indian Economy.
GDP, Agriculture Sector, Workforce, Indian economy, Economic Survey
