Trends in the growth of production and productivity, Microeconomics

Assignment Help:

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.


Related Discussions:- Trends in the growth of production and productivity

Households and consumers, What is the difference between houehold and consu...

What is the difference between houehold and consumers?

Marginal revenur and cost, If coolest icecream parlor has been closing at 5...

If coolest icecream parlor has been closing at 5pm with $120 of marginal revenue and $80 of marginal cost for the last hour open, what should coolest icecream do to maximize profit

Micro, Using tools of indifference curve, highlight on consumption in busin...

Using tools of indifference curve, highlight on consumption in business economics.

Price elasticity, Price Elasticity A measure of the change in demand fo...

Price Elasticity A measure of the change in demand for a product relative to unit changes in the price of the product. If the percentage change in quantity demanded is greater

Labor markets and labor Union, 1. Nonwage Determinants of Labor Supply Supp...

1. Nonwage Determinants of Labor Supply Suppose that two jobs are exactly the same except that one is performed in an air-conditioned workplace. How could you measure the value wor

Change in the population of consumers, Change in the population of consumer...

Change in the population of consumers: Population changes may affect the demand for a commodity.Areas of high population may demand more of certain commodities than areas of low

Output in short run, Selecting Output in Short Run * We will combine pr...

Selecting Output in Short Run * We will combine production and cost analysis with demand to determine output and profitability. A Competitive Firm Making Positive Profit

Explain why each of the following factors may influence the, Explain why ea...

Explain why each of the following factors may influence the own price elasticity of demand for a commodity. (i) Consumer preferences, that is, whether consumers regard the commod

Second best theory, what is the Theory of second best? Prove the theorem wi...

what is the Theory of second best? Prove the theorem with the help of digram

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd