Helpful in Phasing out Economic Depression: During depression, industrial production can be stopped or reduced but agricultural production continues as it produces basic necessities of life. Yet fractured and unjust social systems, armed conflict, and narrowly nationalistic attitudes contribute greatly to inadequacies in food production, transportation, storage and distribution. But funny enough, less than half of the land has actually been used for the farming activities. According to the Population and Housing Census, 2005; the Bhutanese population is close to 700000, out of which almost 70% reside in country sides. Agriculture does not only develop every place it has implanted but also give additional knowledge and provide a better technology.
This ratio is enough to say that India is highly dependent on its agriculture as a huge amount of land is used for it. Also, looking at the rate at which insecurity of the nation is on the rise due to the illegal acts left for the youth, there is the need for empowerment of youth in order to stabilize and even increase the economic status of the country. The provision of raw materials by the agricultural sector to these industries will definitely boost the output of the industries and in fact, attract foreign investments into the country. Importance to international trade — There are many products which are outsourced to other countries thereby getting a higher price. This includes India as well where agriculture is the prime source of income for several families. Source of Food Supply: Agriculture is the basic source of food supply of all the countries of the world—whether underdeveloped, developing or even developed. The Margarian paper addresses these challenges in a particularly innovative way.
Apart from this, many others like processing of fruits and vegetables, dal milling, rice husking, gur making also depend on agriculture for their raw material. Precisely for this reason, all rural areas should be encouraged to actively participate in agricultural activities. This is more dominant in developing countries like India, where almost 60% of the total land can be utilized for agriculture because India has a very fertile land overall. The burden and hard labor was now being lessened as man operated equipment rules the field. It has already made a significant contribution to the economic prosperity of advanced countries and its role in the economic development of less developed countries is of vital importance.
According to United Nations Survey, the industries with raw material of agricultural origin accounted for 50 per cent of the value added and 64 per cent of all jobs in the industrial sector. What policies and actions will contribute to eradicating food insecurity everywhere? Accordingly, effective global institutions are required to manage fair and equitable trade arrangements, equitably allocate resources, and ensure that prosperity is shared. Second, there are a number of technical difficulties that make the per capita incomes of many underdeveloped countries expressed in terms of an international currency, such as the U. He advocated the establishment of community-based, elected institutions responsible for the development and regulation of resources, for social services, and for investment. It is quite evident that agriculture stands as the backbone of any country and globally, the importance of farming is simply enormous. Agriculture is important to human beings because it forms the basis for food security.
The theory of economic development—how primitive and poor economies can evolve into sophisticated and relatively prosperous ones—is of critical importance to underdeveloped countries, and it is usually in this that the issues of economic development are discussed. Therefore, the role of agriculture for the development of an economy may be stated as below: 1. Agricultural activities help human beings create job opportunities, which eventually helps build a strong and sustainable national economy. K in 1866 with a system of University Extension, which was first taken up by the Cambridge and the Oxford Universities and subsequently by other Educational Institutions in U. Why not simply examine the relationship between the two variables and draw the appropriate conclusion? This is because the developed countries are far more sophisticated regarding agricultural technology than the developing countries. The slow rate or fall in the production of agriculture sector generates inflationary pressure and creates bottlenecks in the economic development of the country.
The view also underscore the argument of the development scholars known as social development theorists who posit that increasing awareness leading to organization is the basic mechanism driving social change which they argue is the cause of development. In fact, this is the most primary or basic need fulfillment that agriculture provides to the human beings by producing some of an essential nutritious product like rice, wheat, potato, onion, tomato, mangoes, sugarcane, beans, cotton, so on and so forth. From the above, explanation it may be concluded that agriculture occupies an important place in the development of an economy. In India still about 62% labour is absorbed in this sector. The estimated relation between the leading variable t+1 of the agricultural change and current t+0 non-agricultural change lead effect is negative in many classes.
We primarily work on agriculture finance, agriculture insurance and its linkages with agriculture finance. Based on Democratic Notions: 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. It began in the early times when our forefather thought of tilling the ground and establishing food crops and grain as a main source of food aside from animals. However the United Nations have set the Millennium Development Goals. Unskilled laborers and daily wage workers are solely dependent on agriculture as some crops, or the other are being reared that brings in some amount of money to the households.
Supply of Food and Fodder: Agriculture sector also provides fodder for livestock 35. Although there are a number of problems of measurement of both the level of per capita income and its rate of growth, these two indicators are the best available to provide estimates of the level of economic well-being within a country and of its economic growth. Similarly, various under-developed countries of the world engaged in the process of economic development have by now learnt the limitations of putting over-emphasis on industrialisation as a means to attain higher per capita real income. These are the ones that are in some way or the other, related to the agricultural products such as the sugar industry, cotton, tobacco and the list is never ending. Provision of Employment As the rate at which unemployment is increasing daily in Nigeria, there is an urgent need for the provision of employment for the youth. Centrally planned economies are also generally regarded as a separate class, although China and are universally considered developing countries. Food is a very important part of our societies, it is a basic need of every living thing, agriculture is particularly important because it is our main source of food supply.
It was justified in the following terms: To maintain viable rural communities, for whom farming is an important economic activity creating local employment; this delivers multiple economic, social, environmental and territorial benefits…. Special attention should be given to this sector so that farmers use the latest technology for agriculture that results in higher yield. Findings Findings from the employment model can be used to illustrate some outcomes from the analysis. There is no reason why this could not be done in our own case. This is due to the fact that the Government has centralized the source of income to the country by relying only on the crude oil that the country is also endowed with.