Trends in the growth of production and productivity, Microeconomics

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.

Posted Date: 11/10/2012 6:16:27 AM | Location : United States







Related Discussions:- Trends in the growth of production and productivity, Assignment Help, Ask Question on Trends in the growth of production and productivity, Get Answer, Expert's Help, Trends in the growth of production and productivity Discussions

Write discussion on Trends in the growth of production and productivity
Your posts are moderated
Related Questions
Q. What do you meant by Progressive Tax? Progressive Tax:Tax is considered progressive if a larger proportionate share of its total burden falls on individual'swith higher avera

Elasticity of Market Supply • Perfectly inelastic short run supply arises when industry's plant and equipment are so fully utilized that new plants should be built to ac

Measuring Cost: Which Costs Matter? Accounting Cost versus Economic Cost - Accounting Cost Actual expenses and adding the depreciation charges for the capital equip

identify three factors to criticize the theory of consumer behavior or utility theory

if a bank has $6000 in checkable deposits and the required reserve ratio is 0.2 then the bank can lend how much money?

??????? ??? ???? ??? # 100 ?????? #Minimum ?????? ?????

Rationale for government intervention There are six major functions the government can perform in an economy. 1. The government provides a legal and social framework within which

LINKAGES OF BUREAUCRACY WITH THE KNOWLEDGE CENTRES: The Government employees must make use of knowledge generated in higher seats of learning for implementing economic policie

Your company has a product that it is interested in marketing in a foreign country. Using one of the following Websites, click on a country of your choice to learn about Etiquette,

What was the price index for 2008, 2009 and 2010?