The Gross Domestic Product or GDP is the indicator of the performance of an economy. According to the estimates of 2008, India's GDP is $1.209 trillion and this is slated to make improvement in the coming times. It is estimated that India's GDP will grow by 6.5% in the year 2009. In 2008 the country's GDP was 9%; the slowdown that has been witnessed this year in the estimates is largely due to the slowdown witnessed by the agriculture and the industrial sectors. A look at the India GDP composition sector wise throws up some interesting figures. The agriculture sector contributed 17.2%; industry contributed 29.1% while the service sector had a contribution of 52.7% according to 2008 estimates.
Sectors contributing to India's GDP India is a vast country, so the sectors contributing to the country's GDP is also big in numbers. Various sectors falling under the India GDP composition includes food processing, transportation equipment, petroleum, textiles, software, agriculture, mining, machinery, chemicals, steel, cement and many others. Agriculture is the pre dominant occupation in India, employing more than 50% of the population. The service sector accounts for employing more than 25% while the industrial sector accounts for more than 10%.
India's GDP Statistics GDP: $1.209 trillion (2008 Estimate) GDP Growth: 6.7% (2009) GDP per capita: $1016 GDP by sector (2008 Estimate): Agriculture: 17.2% Industry: 29.1% Services: 53.7% Inflation: 7.8% (2008 Estimate) Labor force: 523.5 million (2008 Estimate
Agriculture contri to gdp
Agriculture Growth Rate in India GDP had been growing earlier but in the last few years it is constantly declining. Still, the Growth Rate of Agriculture in India GDP in the share of the country's GDP remains the biggest economic sector in the country. India GDP means the total value of all the services and goods that are produced within the territory of the nation within the specified time period. The country has the GDP of around US$ 1.09 trillion in 2007 and this makes the Indian economy the twelfth biggest in the whole world.
The growth rate of India GDP is 9.4% in 2006- 2007. The agricultural sector has always been an important contributor to the India GDP. This is due to the fact that the country is mainly based on the agriculture sector and employs around 60% of the total workforce in India. The agricultural sector contributed around 18.6% to India GDP in 2005. Agriculture Growth Rate in India GDP in spite of its decline in the share of the country's GDP plays a very important role in the all round economic and social development of the country. The Growth Rate of the Agriculture Sector in India GDP grew after independence for the government of India placed special emphasis on the sector in its five-year plans. Further the Green revolution took place in India and this gave a major boost to the agricultural sector for irrigation facilities, provision of agriculture subsidies and credits, and improved technology. This in turn helped to increase the Agriculture Growth Rate in India GDP. The agricultural yield increased in India after independence but in the last few years it has decreased. This in its turn has declined the Growth Rate of the Agricultural Sector in India GDP. The total production
of food grain was 212 million tonnes in 2001- 2002 and the next year it declined to 174.2 million tonnes. Agriculture Growth Rate in India GDP declined by 5.2% in 2002- 2003. The Growth Rate of the Agriculture Sector in India GDP grew at the rate of 1.7% each year between 2001- 2002 and 20032004. This shows that Agriculture Growth Rate in India GDP has grown very slowly in the last few years.
Agriculture Growth Rate in India GDP has slowed down for the production in this sector has reduced over the years. The agricultural sector has had low production due to a number of factors such as illiteracy, insufficient finance, and inadequate marketing of agricultural...