Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Microeconomics Expert

Trends in the Growth of Production and  Productivity:

From an analysis of the trends of growth of production and productivity of agricultural sector as a whole and of different crops in the preceding section, it can be safely concluded that: 

1) Growth rate of agricultural  production picked up immediately after independence but largely due to allocation of more area under cultivation. This was, however, not enough, as the country was becoming increasingly dependent on food imports. Moreover, the increase in production through increase in area under cultivation has its obvious limitations. 

2) The new agricultural strategy of water, seed and fertiliser technology brought about a change in the rate of growth of production through an increase in productivity. This was a welcome change not only for the farmer whose income could rise from his existing holding but also for the economy where growth in agricultural production could facilitate higher rate of economic growth. 

3) The growth rate of production of the agricultural sector rose to around 3.4 per cent per annum during the decade of 1980's and was higher than the rate of growth in production of 2.5 per cent per annum during the earlier decade. Increase in yield was the major contributor to the growth rates in agricultural production.  

4) Similar trends were witnessed in  the rates of growth of production and productivity of foodgrains. The growth rates witnessed in the decade of 1980's were distinctly higher than those in the earlier decades. 

5) In respect of foodgrains, the gains  of technological change were largely confined to Rice and Wheat. Other Coarse Cereals and pulses lagged behind. 

6) For the period up to 1980's, the growth in production and productivity in non-foodgrain sector is only marginally higher than for the entire sector. However, since the decade of 1980's the non-foodgrain sector has grown at a rate which is distinctly higher than the growth of the sector as a whole. 

7) There are clear symptoms of the agricultural sector showing symptoms of retrogression in growth of production and productivity of agricultural sector as a whole and foodgrains as well. The sluggishness in the rates of growth of production and a significant decline in rate of growth of yield per hectare call for a major overhaul of agricultural policy framework.

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M9515021

Have any Question?


Related Questions in Microeconomics

Question suppose that the federal government announced a

Question: Suppose that the Federal Government announced a tax rebate of $500 for all individuals filing singly and $1000 for all families filing jointly or as head of household in the upcoming tax year. Further, suppose ...

Question your electronics company has the potential to make

Question: Your electronics company has the potential to make a profit of $1,000,000 per year for 10 years. If the company puts all of this money in a bank account that earns 5% per year, how much money will be in the acc ...

Quesiton consider the following economyplease follow

Quesiton: Consider the following economy: Please follow directions and label answers e & f: 1,2, and 3 C = 1200 + .63 Y I = 1750 - 1500 R NX = 50 -.1 Y - 500 R M = (.1625 Y - 1000 R) P a. If G = 1,200 and M = 800, calcul ...

Question what could the government do to try and keep the

Question: What could the government do to try and keep the economy from entering a recession because of the adverse supply shock? Depict this graphically. (Alternatively - what has to shift in response to a negative supp ...

Question in mid-1968 the government imposed a 10 income tax

Question: In mid-1968, the government imposed a 10% income tax surcharge on personal and corporate income to pay for the costs of the Vietnam War. It was widely believed that the surcharge was temporary, and in fact it w ...

Question in the model of perfect competition all firms are

Question: In the model of perfect competition, all firms are price-takers since they treat price as a market-determined constant. Firm Perfcomp's total revenue function is TR(Q) = P.Q, in which P equals the output price. ...

Question a explain how an amplification mechanism may have

Question: a) Explain how an amplification mechanism may have been created from mortgage losses to the effect on the economy. What three factors may have contributed? Explain each. b) Explain the process of a financial cr ...

Question average return the past five monthly returns for k

Question: Average Return The past five monthly returns for K and Company are 5.75 percent, 5.63 percent, -.55 percent, 4.75 percent, and 8.75 percent. What is the average monthly return? The response must be typed, singl ...

Question consider a perfectly competitive constant-cost

Question: Consider a perfectly competitive, constant-cost industry. (a) Draw the long run market diagram with both the short run and long run supply curves. Explain the short run and long run producer surplus as found in ...

Question why does longo use salespeople instead of price

Question: Why does Longo use salespeople instead of price tags? Why not just offer cars at a fixed discount under the sticker price? Or why not be like the General Motors Saturn and advertise a no bargaining policy? The ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As