Describe the contribution of agriculture in economic development

Question

Megha Sharma · Accepted Answer

Dear student,

The contribution of agriculture in economic development is as
follows-
1 Product Contribution: Most of the developing countries
depend on their own agriculture to provide food to be consumed by
their population
2 Factor Contribution: Another contribution of
agriculture to economic development is that it provides two
important factors — labour and capital for industrial
growth
3 Market Contribution: The market contribution of
agriculture means the demand for industrial products In the earlier
stages of development when urban sector is very small and markets
for exports have not yet been found, agricultural sector of
developing countries is a major source of demand or market for
industrial products
4 Foreign Exchange Contribution: The exports of
agricultural products can also be a source of foreign exchange
earnings In the initial stages of development when industrial
sector has not yet developed much, agriculture is a source of
foreign exchange earnings from its exports of primary goods
5 Agriculture and Poverty Alleviation: A majority of
poor people live in rural areas Even after 60 years of independence
around 40% of population in the rural areas of India lives below
the poverty line and a majority of them consists of small and
marginal farmers, landless agricultural labourers, Scheduled Casts
and Tribes
Regards

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1. Product Contribution: Most of the developing countries depend on their own agriculture to provide food to be consumed by their population.

2. Factor Contribution: Another contribution of agriculture to economic development is that it provides two important factors — labour and capital for industrial growth.

4. Foreign Exchange Contribution: The exports of agricultural products can also be a source of foreign exchange earnings. In the initial stages of development when industrial sector has not yet developed much, agriculture is a source of foreign exchange earnings from its exports of primary goods.