What was share of agriculture in India's national income in 1950-51?
Answers
Answer:
Indian agricultural sector
The Indian agricultural sector accounts for 13.9% of India's gross domestic product (GDP) and employs just a little less than 54.6% of the country's workforce.
Explanation:
The share of agriculture in employment declined from about 82 percent in 1950/51 to about 72 percent by 2001. During the same duration, the share of agriculture in total GDP also declined from 54.66 percent in 1950/51 to 24 percent by 2001.
The share of agriculture in India's national income in 1950-51 was 51.9%
The national income of a country is used to know the economic growth of the country. The national income measures the income of a country contributed by various sectors such as primary, secondary, and service.
Agriculture is the primary sector of India's economy and contributes a huge percentage to its national income. This is because half of the population is engaged in the primary sector.
The share of agriculture in India's national income during 1950-52 was as follows:
- Agriculture contributed 51.9% to the national income of India during the year 1950-51.
- This means that half of the Indian population was engaged mainly in agriculture during this period.
- The percentage of agricultural contribution to India's national income decreased roughly to 13.7% which is way too low compared to before.
Thus, the agricultural contribution to India's national income in 1950-51 was the highest of all.