Indian Economy: Farming’s Role Shrinks

For years, India’s economy leaned heavily on agriculture, so a poor monsoon could rattle it. But agriculture’s share in the gross value addition  — value of goods and services minus input costs — to the economy has been steadily falling. It stood at 55% at the start of the first five-year plan in 1950-51, but dropped below 50% by 1961-62. Today, agriculture contributes less than a fifth of India’s GVA

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