What was the Per capitalist in India according to 2013 data
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Answer:
The Indian economy has one of the highest growth rates in the world, but that growth hides disturbing long-term trends
The compounded annual rate of growth of agriculture, at constant prices, in the 1980s was 4.24%. It fell to 3.17% in the 1990s and to 2.37% in the first decade of this century. While the rest of the economy was revving up, thanks to economic liberalization, agricultural growth was winding down, as the push given by the Green Revolution lost momentum.
The chart also shows that agricultural growth hasn’t been anything to boast about in the past five years. In fact, the contribution of agriculture to gross value added at basic prices in the past five years, at constant prices, has been a mere 6.3%.
The diminishing importance of agriculture as a source of growth has led to its neglect. Chart 2 shows that the share of institutional sources of credit in total loans has been coming down since 1991 in rural areas. For farmers, the share of loans from institutions has fallen from 63% in 1981 to 58% by 2012, leaving them to the tender mercies of moneylenders.