Why is agriculture known as basic main stay of economic system?
Answers
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(a) Agriculture is the mainstay of Indian economy because
about 67% of our population depends directly or indirectly on agriculture.
(b) It provides raw materials to the industries.
(c) India earns
foreign exchange by exporting agricultural products.
(d) It contributes about 29% to the gross domestic product.
(e) It provides food
to over 1027 million population.
Explanation:
Agriculture in India is the primary economic system due to its vital role in the Indian economy, where it contributes around 17% of the total GDP. It has further created jobs to over 60% of the people in India; thus, it is the primary means to live to almost two-thirds of people in India. Over the years, land use has changed, whereby in rural areas, farmers have got excellent value of their holdings. Notably, Agriculture in India has greatly benefited from technology and new farming methods.