Sangam Sharma Blogs

  Role of Agriculture Sector in Indian Economy 1. Contribution to National Income: From the very beginning, agriculture is contributing a major portion to our national income. In 1950-51, agriculture and allied activities contributed about 59 per cent of the total national income. Although the share of agriculture has been declining gradually with the growth of other sectors but the share still remained very high as compared to that of the developed countries of the world. For example, the share of agriculture has declined to 54 per cent in 1960-61, 48 per cent in 1970-71, 40 per cent in 1980-81 and then to 18.0 per cent in 2008-09, whereas in U.K. and U.S.A. agriculture contributes only 3 per cent to the national income of these countries. 2. Source of Livelihood: In India over two-thirds of our working population are engaged directly on agriculture and also similarly depend for their livelihood. According to an estimate, about 66 per cent of our working population is engaged in agric

Role of IT Sector in Economy  In this day and age, one can remark a country as progressive only by its economic statistics. Now, how can you judge whether the country is progressive or not? There are many factors that indicate that the economy of a country is growing. First of all, the literacy rate of the country. When you have a country that is growing economically, many people will turn to the education sector as the means to evolve their lifestyle. An economically progressive country will have a more industrial contribution to their GDP than the agricultural sector. However, in this age, the growth of a country could be measured with its IT infrastructure. One of the best reasons why the US is the largest economy in the world is their impressive IT infrastructure sector. Why the IT Sector Plays a Key Role in a Country’s Economic Growth IT or the information technology sector plays a huge role in the development of a country. The main reason for that is, in this day and age, technol

  Factors Defining Rest of Year' Course of Indian Economy The first-quarter GDP growth number — a contraction by 24% — was on expected lines and shows that the Indian economy has slumped sharply due to the lockdown. “Growth for the full year is likely to be in the region of (—) 6.4 per cent, which is premised on a low negative growth number for the first two quarters for certain, possibly a close to positive number in the third quarter, and positive growth in the last quarter,” writes Madan Sabnavis, chief economist of CARE Ratings. But two basic factors would influence the assumptions being made on the growth prospects for the coming quarters. The first is the process of “Unlocking”. It has been observed that with the economy moving from the stage of a total lockdown in April to a gradual opening up of the windows in May and June, and then the door opening up a little more significantly in July and August, the movement from one stage to another did reflect in the macro-economic nu