Banking Exams Exam > Banking Exams Questions > The importance of agriculture in Indian econo...
Start Learning for Free
The importance of agriculture in Indian economyis indicated by its contribution to which of the following?
- a)National income and employment
- b)Industrial development and international trade
- c)Supply of food-grains
- d)All the above
Correct answer is option 'D'. Can you explain this answer?
| FREE This question is part of | Download PDF Attempt this Test |
Most Upvoted Answer
The importance of agriculture in Indian economyis indicated by its con...
The importance of agriculture in the Indian economy is indicated by its contribution to national income and employment, industrial development and international trade, and the supply of food grains. Let's discuss each of these points in detail:
1) Contribution to national income and employment:
- Agriculture is a significant sector in the Indian economy as it contributes a substantial share to the country's national income. It accounts for around 16% of India's GDP (Gross Domestic Product) and provides livelihoods for a large portion of the population.
- The agricultural sector employs a significant portion of the Indian workforce, with about 50% of the population engaged in agriculture-related activities. This sector plays a crucial role in reducing unemployment and poverty in rural areas.
2) Contribution to industrial development and international trade:
- Agriculture acts as a supplier of raw materials to various industries such as food processing, textile, leather, and more. The growth of these industries depends on a consistent supply of agricultural products.
- The agricultural sector also contributes to international trade by exporting various agricultural commodities. India is one of the largest exporters of agricultural products such as rice, wheat, spices, tea, coffee, etc. These exports contribute to foreign exchange earnings and help in maintaining a favorable balance of trade.
3) Supply of food grains:
- Agriculture plays a vital role in ensuring food security in the country. It is responsible for producing essential food grains such as rice, wheat, pulses, etc. A strong agricultural sector ensures an adequate supply of food to meet the growing needs of the population.
- The supply of food grains also affects the overall inflation rate and the affordability of food for the general population. A well-performing agricultural sector helps in stabilizing food prices and reducing food shortages.
In conclusion, agriculture in India contributes significantly to national income and employment, industrial development and international trade, and the supply of food grains. Its importance cannot be undermined as it provides livelihoods for a large portion of the population, supplies raw materials to industries, contributes to foreign exchange earnings, and ensures food security in the country.
1) Contribution to national income and employment:
- Agriculture is a significant sector in the Indian economy as it contributes a substantial share to the country's national income. It accounts for around 16% of India's GDP (Gross Domestic Product) and provides livelihoods for a large portion of the population.
- The agricultural sector employs a significant portion of the Indian workforce, with about 50% of the population engaged in agriculture-related activities. This sector plays a crucial role in reducing unemployment and poverty in rural areas.
2) Contribution to industrial development and international trade:
- Agriculture acts as a supplier of raw materials to various industries such as food processing, textile, leather, and more. The growth of these industries depends on a consistent supply of agricultural products.
- The agricultural sector also contributes to international trade by exporting various agricultural commodities. India is one of the largest exporters of agricultural products such as rice, wheat, spices, tea, coffee, etc. These exports contribute to foreign exchange earnings and help in maintaining a favorable balance of trade.
3) Supply of food grains:
- Agriculture plays a vital role in ensuring food security in the country. It is responsible for producing essential food grains such as rice, wheat, pulses, etc. A strong agricultural sector ensures an adequate supply of food to meet the growing needs of the population.
- The supply of food grains also affects the overall inflation rate and the affordability of food for the general population. A well-performing agricultural sector helps in stabilizing food prices and reducing food shortages.
In conclusion, agriculture in India contributes significantly to national income and employment, industrial development and international trade, and the supply of food grains. Its importance cannot be undermined as it provides livelihoods for a large portion of the population, supplies raw materials to industries, contributes to foreign exchange earnings, and ensures food security in the country.
Attention Banking Exams Students!
To make sure you are not studying endlessly, EduRev has designed Banking Exams study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in Banking Exams.
|
Explore Courses for Banking Exams exam
|
|
Top Courses for Banking ExamsView all
The importance of agriculture in Indian economyis indicated by its contribution to which of the following?a) National income and employment b) Industrial development and international trade c) Supply of food-grains d) All the above Correct answer is option 'D'. Can you explain this answer?
Question Description
The importance of agriculture in Indian economyis indicated by its contribution to which of the following?a) National income and employment b) Industrial development and international trade c) Supply of food-grains d) All the above Correct answer is option 'D'. Can you explain this answer? for Banking Exams 2024 is part of Banking Exams preparation. The Question and answers have been prepared according to the Banking Exams exam syllabus. Information about The importance of agriculture in Indian economyis indicated by its contribution to which of the following?a) National income and employment b) Industrial development and international trade c) Supply of food-grains d) All the above Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for Banking Exams 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The importance of agriculture in Indian economyis indicated by its contribution to which of the following?a) National income and employment b) Industrial development and international trade c) Supply of food-grains d) All the above Correct answer is option 'D'. Can you explain this answer?.
The importance of agriculture in Indian economyis indicated by its contribution to which of the following?a) National income and employment b) Industrial development and international trade c) Supply of food-grains d) All the above Correct answer is option 'D'. Can you explain this answer? for Banking Exams 2024 is part of Banking Exams preparation. The Question and answers have been prepared according to the Banking Exams exam syllabus. Information about The importance of agriculture in Indian economyis indicated by its contribution to which of the following?a) National income and employment b) Industrial development and international trade c) Supply of food-grains d) All the above Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for Banking Exams 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The importance of agriculture in Indian economyis indicated by its contribution to which of the following?a) National income and employment b) Industrial development and international trade c) Supply of food-grains d) All the above Correct answer is option 'D'. Can you explain this answer?.
Solutions for The importance of agriculture in Indian economyis indicated by its contribution to which of the following?a) National income and employment b) Industrial development and international trade c) Supply of food-grains d) All the above Correct answer is option 'D'. Can you explain this answer? in English & in Hindi are available as part of our courses for Banking Exams.
Download more important topics, notes, lectures and mock test series for Banking Exams Exam by signing up for free.
Here you can find the meaning of The importance of agriculture in Indian economyis indicated by its contribution to which of the following?a) National income and employment b) Industrial development and international trade c) Supply of food-grains d) All the above Correct answer is option 'D'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
The importance of agriculture in Indian economyis indicated by its contribution to which of the following?a) National income and employment b) Industrial development and international trade c) Supply of food-grains d) All the above Correct answer is option 'D'. Can you explain this answer?, a detailed solution for The importance of agriculture in Indian economyis indicated by its contribution to which of the following?a) National income and employment b) Industrial development and international trade c) Supply of food-grains d) All the above Correct answer is option 'D'. Can you explain this answer? has been provided alongside types of The importance of agriculture in Indian economyis indicated by its contribution to which of the following?a) National income and employment b) Industrial development and international trade c) Supply of food-grains d) All the above Correct answer is option 'D'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice The importance of agriculture in Indian economyis indicated by its contribution to which of the following?a) National income and employment b) Industrial development and international trade c) Supply of food-grains d) All the above Correct answer is option 'D'. Can you explain this answer? tests, examples and also practice Banking Exams tests.
|
|
Explore Courses for Banking Exams exam
|
|
Suggested Free Tests
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup