The Indian Economy Since 1991, 2nd Edition

19

Agriculture Growth and Performance

K. P. Mani

19.1 Introduction

The significance of agriculture and allied activities in the economic development is well accepted and documented since times immemorial. Agriculture can be a source of growth for the national economy, a prime provider of investment opportunities for the private sector and a driver of agriculture-related industries and the rural non-farm economy. Two-thirds of the world’s agricultural value added is formed in the developing countries. In the agriculture-based countries, it generates on an average 29 per cent of the Gross Domestic Product (GDP) and employs 65 per cent of the labour force. Agriculture is a source of livelihood for an estimated 86 per cent of the world’s rural population. ...