the share of agriculture in indian economy is 23 %.
the share of agriculture in indian economy is 23 %.
what is the share of agriculture in indian economy?
23 %
agriculture and allied sectors like forestry, logging and fishing accounted for 17% of the gdp, the sector employed 49% of its total workforce in 2014. agriculture accounted for 23% of gdp, and employed 59% of the country's total workforce in 2016. as the indian economy has diversified and grown, agriculture's contribution to gdp has steadily declined from 1951 to 2011, yet it is still the country's largest employment source and a significant piece of its overall socio-economic development. crop-yield-per-unit-area of all crops has grown since 1950, due to the special emphasis placed on agriculture in the five-year plans and steady improvements in irrigation, technology, application of modern agricultural practices and provision of agricultural credit and subsidies since the green revolution in india. however, international comparisons reveal the average yield in india is generally 30% to 50% of the highest average yield in the world. the states of uttar pradesh, punjab, haryana, madhya pradesh, andhra pradesh, telangana, bihar, west bengal, gujarat and maharashtra are key contributors to indian agriculture.
economy of india
the long-term growth prospective of the indian economy is highly positive due to its young population, corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. the indian economy has the potential to become the world's 3rd-largest economy by the next decade, and one of the largest economies by mid-century. and the outlook for short-term growth is also good as according to the imf, the indian economy is the "bright spot" in the global landscape. india also topped the world bank’s growth outlook for 2015–16 for the first time with the economy having grown 7.3% in 2014–15 and expected to grow 7.5–8.3% in 2015-16.
economy of asia