Agricultural Economics

  Though industry has been playing an important role in Indian economy, still the contribution of agriculture in the development of Indian economy cannot be denied.  This can be measured and gauged by the following facts and figures: 1. Agricultural influence on national income: The contribution of agriculture during the first two decades towards the gross domestic product ranged between 48 and 60%. In the year 2001-2002, this contribution declined to only about 26%. 2.  Agriculture plays vital role in generating employment: In India at least two-thirds of the working population earn their living through agricultural works. In India other sectors have failed generate much of employment opportunity the growing working populations. 3.  Agriculture makes provision for food for the ever increasing population: Due to the excessive pressure of population labour surplus economies like India and rapid increase in the demand for food, food production increases at a fast rate....

  The agriculture sector is the backbone of an economy which provides the basic ingredients to mankind and raw material for industrialization. Therefore, the role of agriculture for the development of an economy may be stated as below: 1. Contribution to National Income: The lessons drawn from the economic history of many advanced countries tell us that agricultural prosperity contributed considerably in fostering economic advancement. It is correctly observed that, “The leading industrialized countries of today were once predominantly agricultural while the developing economies still have the dominance of agriculture and it largely contributes to the national income.  2. Source of Food Supply: Agriculture is the basic source of food supply of all the countries of the world—whether underdeveloped, developing or even developed. Due to heavy pressure of population in underdeveloped and developing countries and its rapid increase, the demand for food is increasing at a fast rate....

  AGRICULTURAL POLICY OF INDIA 2000 Agricultural policy of a country is mostly designed by the Government for raising agricultural production and productivity and also for raising the level of income and standard of living of farmers within a definite time frame. This policy is formulated for all round and comprehensive development of the agricultural sector. In India, the main objectives of agricultural policy are to remove the major problems of agricultural sector related to improper and inefficient uses of natural resources, predominance of low-value agriculture, poor cost-benefit ratio of the sectoral activities and insignificant progress of co­operative farming and other self-help institutions. Main Objectives: The following are some of the important objectives of India’s agricultural policy: (i) Raising the Productivity of Inputs: One of the important objectives of India’s agricultural policy is to improve the productivity of inputs so purchased viz., HYV seeds, fertilizers, ...

  Agricultural economics is  an applied field of economics concerned with the application of economic theory in optimizing the production and distribution of food and fiber products . Agricultural economics began as a branch of economics that specifically dealt with land usage. n general, agricultural economics has  contributed to the fields of research and training, smallholder and rural development, project planning and management, and the formulation, planning and analysis of macro-policy . According to Snodgrass and Wallace,  “Agricultural economics is an applied phase of the social science of economics in which attention is given to all aspects of problems related to agriculture.” SCOPE OF AGRICULTURAL ECONOMICS All the tools of analysis used in general economics are employed in agricultural economics as well. We have the same branches of agricultural economics i.e. economics of production, consumption, distribution, marketing, financing and planning and policy ...