Journal ID : AMA-10-09-2022-11668
[This article belongs to Volume - 53, Issue - 09]
Total View : 445

Title : Agricultural Sector: Status, Challenges and its Role in Indian Economy

Abstract :

In this study, we use a simple regression analysis to explore the relationship between agricultural inputs and agricultural GDP in the Indian economy from 1980–1981 to 2011-2021. The agricultural gross domestic product serves as the dependent variable, while fertilizers, net irrigated area, pesticides, electricity, rainfall, and the use of high yield varieties of seeds serve as the independent factors. Statistical analysis shows that factors influencing agricultural GDP from 1980–1981 to 2011-2021, such as fertilizers and net irrigated area, have little to no effect. Further, the study finds that variables including pesticides, electricity, rainfall, and seeds are statistically significant, leading researchers to conclude that they all had a major impact on agricultural GDP within the time frame under consideration. The authors argue that the government can influence the agricultural sector in two ways: by regulating inputs and by influencing outputs. The report emphasizes the need of revitalizing public sector investment because of its multiplier effect on the sector's total GCF. As a result, it is important to develop a long-term perspective strategy for rural infrastructure that prioritizes the most effective infrastructure projects.

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