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Development Economics and Policy- Report
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Added on 2020-02-05
Development Economics and Policy- Report
Added on 2020-02-05
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DevelopmentEconomics and Policy
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1Development Issue.................................................................................................................2Development Models..............................................................................................................4CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................8
INTRODUCTIONDevelopment economics is the branch of economics, which studies the aspects of lowincome countries in context of growth and progress. Fluctuation in the condition of thesecountries affects the economic development and standard of living of countrymen. Developmenteconomics identifies the causes, effects and methods to bring improvements in Marketconditions, macro-economic indicators, social scenario in terms of health, education andemployment, domestic and international policies etc. As per the demand and suitability, differentstrategies are adopted by statisticians and political experts to bring transformation in the socialand political structure (Benería, Berik and Floro, 2015). In order to analyse the development pathof a country, India is taken into account. India has been embarked upon the path of developmentsince independence. Its economy has undergone significant shifts in its economy post world warII period. With the inheritance of independence, India entered into the era of immenseopportunities and challenges achieving growth and development. There has been seen significantcorrelation between the political freedom and economic growth. Since gaining independence,basic foundation was created to move upon the path of development in forms of set of activitiesand objectives (Myrdal, 2013). With an aim to enhance the productivity which is considered as the source of attainingdesired economic outcomes, various steps have been taken by the country (Lockwood, 2015).Among them, there are many factors that have contributed in the development such as industrialrevolution, systematic and structured planning in the form of five year plans, advancement intechnology, capital formation and many others. Moreover, there are some issues which werefaced by the country in context of development and progress which has pace down the growth.Few of them are instability in the exchange rate values, below the mark standards of socialoverheads such as education and health, inefficient infrastructure, balance of paymentdeterioration due to heavy debts, existence of inequalities and less productive agriculture(MacBean, 2011). Among all the mentioned factors, inefficiency in the agriculture is the crucialfactor that has inhibited the growth and development. Agriculture has been the core occupationof India since its beginning in 9000 BCE. At present 60% of land in India is arable land. Withthe significant amount households depending upon it, 50% of the workforce is engaged inagriculture (Pearce, Barbier and Markandya, 2013). In-spite of having considerable amount ofpeople engaged in it the total contribution of agriculture and its allied services in GDP are around1
14%. The report discusses the crucial development issue that is agriculture and its effect on thedevelopment path of Indian economy. For that purpose, two models are taken into account thatare Johnston and Mellor model and Lewis unlimited supply of labour model (Lockwood, 2015).Development IssueFor the study, inefficient agriculture in India is taken into account. It has been playingvital role in the Indian economy due to its consideration as the principle means of livelihood. Inmany ways people are dependent on the growth and development of agriculture. Sinceindependence, when India was empowered to control all the factors of production todevelopment sectors such as industry, agriculture and others, various steps have been taken bythe government. But due to many reasons, development is not with the required growth rate andthe sector is still in the underdeveloped state. The major development issues related to the growthof agriculture in India are:Rainfall and IrrigationIndian has been experience the monsoon climate which is largely dependent on themonsoon rains for the fulfilment of need of water in the country for various purposes. It is widelyseen that, there is fluctuating trend in the rainfall and water availability which significantly affectthe agriculture (Lin, 2011). The next source of water for the agricultural activities is theirrigation facilities provided by the government and other organisation. Further, irrigation in theimportant agricultural input required for the growth. The use of conventional methods forirrigation, lack of knowledge and in sufficiency of administration with respect to providingrequired irrigation leads to the failure of fulfilment of need.SeedsThe fundamental requirement for the success of agricultural activities is the availabilityof proper and specialised seeds of crops. With respect to seeds two process are important, thatare production and distribution of the assured quality seeds. Inadequate availability of qualityseeds hinders the process of recognizing potential for growth in the agricultural production. Manures and fertilizers.In order to enhance the efficiency and productivity of the soil, manures and fertilizersplay vital role (Liedholm and Mead, 2013). Indian soil has been used from many years for theproduction of crops and other agricultural products without proper care taken for replenishment.2
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