why primary sector is important?
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Answer:
Primary sector contributes more than 20% to the GDP of India. Its employment share is more than 55%. It is the most labouring sector of Indian economy. It covers agriculture, dairy, fishing, forestry which all contribute to the Indian economy.
The primary sector is concerned with the extraction of raw materials. It includes fishing, farming, and mining.
Understanding the structure of the economy is critical for both the economic planners and the government of that country to plan, to govern and consistently take the economy towards a growth path.
A steady and reliable economic growth is vital for any country because it helps its citizens to have a better standard of living and create enough surpluses that help in facing the adversities.
In less developed economies, the primary sector will comprise the biggest part of the economy. Typically as an economy develops, increased labor productivity will enable workers to leave the agricultural sector and move to other sectors, such as manufacturing and the service sector.
In the long run sustainable growth and development of a national or regional economy depends on the volume of output produced by all sectors – agriculture, industry and the service sectors.
Keeping this in mind, it becomes pivotal that the Indian economy, more so the Indian primary sector, needs to be modernized. Modernizing agriculture will lead to an increase in more yield of a crop per unit area and increase the share of its GDP.
This creates a chain of actions where rural families will have increased income, increasing their purchasing power, which in turn expands the existing market