agriculture has been the backbone of the Indian economy trade share in the gross domestic product has created the declining trend 1951 onwards Ltd share providing employment and livelihood population continue to be as high as 63% in 2001
(a)what can be done to increase the share of agriculture in Gross domestic product?
(b) what what values does the paragraph exhibit
Answers
The economy of India is a developing mixed economy.[35] It is the world's seventh-largest economy by nominal GDP and the third-largest by purchasing power parity (PPP). The country ranks 139th in per capita GDP (nominal) with $2,134 and 122nd in per capita GDP (PPP) with $7,783 as of 2018.[36][37] After the 1991 economic liberalisation, India achieved 6-7% average GDP growth annually. Since 2014 with the exception of 2017, India's economy has been the world's fastest growing major economy, surpassing China.[38]
The long-term growth prospective of the Indian economy is positive due to its young population, corresponding low dependency ratio, healthy savings[39] and investment rates, and increasing integration into the global economy.[40] India topped the World Bank's growth outlook for the first time in fiscal year 2015–16, during which the economy grew 7.6%.[41] Despite previous reforms, economic growth is still significantly slowed by bureaucracy, poor infrastructure, and inflexible labor laws (especially the inability to lay off workers in a business slowdown).[42]