+91 141 2763873, +91 141 2763973

Blog Details

Blog Details

Need to boost agriculture growth rate - by Shobhit Kulshreshtha, Intern - IHITC

In the recent shift in world economic conditions with globalization, industrialization and a boom in the markets for services, agricultural activities have witnessed a fall. Generally, Developmental process is defined as a shift from agriculture based economy to an industrial economy and then finally to services based economy, where living standards of capitalists, services providers and consumers must increase exponentially. This definition, however, neglects the role of agriculture and farmers in the economy. Our desire to become the world’s fastest growing economy and a developed nation often ignores the fact that with development and more wants of human beings there would, involuntarily, be a huge pressure on agriculture.

If agricultural growth is not maintained properly in line with industrial and economic growth the implication might be highly adverse for the society. This is because, world’s population will climb to over 9 billion in the coming years with nearly all of growth occurring in less developed parts of the world where agricultural productivity is very low. This population boom will be accompanied by increased strains on our food supply and resources, causing increased pressure on already delicate political and ecological systems, as well as threats to global security. Time and again industries have been called as the driving force of economic growth for any nation, be it developed, underdeveloped or even countries that are still largely agricultural based. In the recent times, however, the growth rate of many developing economies is majorly driven by the tertiary sector and not by the secondary sector. In such a scenario even with a very small or negligible positive growth rate in the primary sector it is believed that the country is doing fairly well economically. Thus, our ideology prevents us from looking at primary sector as the driver of economic growth. It had been observed that technological advancement is the most significant factor that affects growth rate. The more up gradation in the technology, more would be the productivity of factors of production and hence there would be more productive activities indicating a higher growth rate in the economy. However, we somehow assume that these technological advancements are restricted to occur either in the industrial or the services sector, thus disregard the fact that a country can benefit even from the linkages between the three sectors and if there is a technological advancement in agricultural sector, it might actually enhance the growth rate of the economy by increasing the agricultural productivity. This will not only help the economy to grow but also help the nation to feed its growing population.