What are the roles of agriculture in economic development?
Agriculture is key for economic transformation, food security, and nutrition. Agriculture plays a critical role in transforming economies to reach the goal, along with achieving other essential development goals like ensuring food security and improving nutrition.
What is the role of agriculture in developing countries?
Agriculture constitutes the main source of employment of the majority of the world’s poor. In total, the share of agriculture in total employment in developing countries constitutes 53% of the total workforce in 2004. In Sub-Saharan Africa 60% of the economically active population works in the agricultural sector14.
Why is agricultural development particularly important in less developed countries?
Agricultural progress is a potent force in reducing poverty in developing countries. An OECD study finds that rapid and sustainable progress to reduce extreme poverty is next to impossible except where agricultural productivity increases and incomes increase for poor farmers.
What is the role of agriculture in economic development of India?
Agriculture is an important sector of Indian economy as it contributes about 17% to the total GDP and provides employment to over 60% of the population. Indian agriculture has registered impressive growth over last few decades.
What is the greatest contribution of agriculture in the economic development?
Higher agricultural valued added per worker implies that more income is generated from agriculture which contributes to lower levels of poverty in rural areas. Lower poverty rates in rural territories is also associated with more production and income diversification and with more market oriented economies (D.
What is agriculture in economic development?
Economic development also requires a growing labour force. Agriculture may also be a source of the capital needed for industrial development to the extent that it provides a surplus that may be converted into the funds needed to purchase industrial equipment or to build roads and provide public services.
Why is agriculture very important to the economic development of Kenya?
In Kenya agriculture is an important fundamental in economic development, it contributes 35% of the gross domestic product (GDP) and constitutes 40% of the export earnings. Agriculture in itself is also a market for industrial goods such as machinery, equipment and fertilizers used in the farming process.
What do you mean by LDC?
Least developed countries
Least developed countries (LDCs) are low-income countries confronting severe structural impediments to sustainable development. They are highly vulnerable to economic and environmental shocks and have low levels of human assets.
What is the role of agriculture in Indian Economy Class 10?
It ensures food security for the country and produces several raw materials for industries. f. Agricultural development is therefore, a precondition of our national prosperity.
What are the importance of agriculture to the economic development of Ghana?
About 52 % of the labour force is engaged in agriculture, 29 % in services and 19 % in industry. Approximately, 39 % of farm labour force is women. Agriculture contributes to 54 % of Ghana’s GDP, and accounts for over 40 % of export earnings, while at the same time providing over 90 % of the food needs of the country.
How is agriculture the backbone of Kenyan economy?
Agriculture is key to Kenya’s economy, contributing 26 per cent of the Gross Domestic Product (GDP) and another 27 per cent of GDP indirectly through linkages with other sectors. The sector employs more than 40 per cent of the total population and more than 70 per cent of Kenya’s rural people.
Why is agriculture significant in economic development in Africa?
1.4. The agricultural sector is also still the dominant provider of industrial raw materials with about two-thirds of manufacturing value-added in most African countries being based on agricultural raw materials. Agriculture thus remains crucial for economic growth in most African countries.
What is the role of Agriculture in economic development?
Some of the major role of agriculture in economic development of a country are as follows: Agricultural sector plays a strategic role in the process of economic development of a country. It has already made a significant contribution to the economic prosperity of advanced countries and its role in the economic development
Why is diversion of labour from agricultural sector important?
In the initial stages, the diversion of labour from agricultural to non-agricultural sector is more important from the point of view of economic development as it eases the burden of surplus labour force over the limited land.
Why is agriculture important in an underdeveloped country?
In underdeveloped countries, it is well known that the majority of people depend upon agriculture and it is they who must be able to afford to consume the goods produced. Therefore, it will be helpful in stimulating the growth of the non- agricultural sector.
What happens if the agricultural sector does not grow?
If the agricultural sector does not grow at a faster rate, it may result in the growing discontentment amongst the masses which is never healthy for the smooth running of democratic governments. For economic development, it is necessary to minimize political as well as social tensions.