Availability of Agricultural Credit and Agricultural Development
Introduction
Agriculture is the organized way of cultivating both food cops and cash crops. It is through the development of agriculture the human beings started organized way of living. The development of agriculture led to the development of civilized life of man. The agricultural sector is important in all the aspect of human life because it provides food materials and raw materials to industries. So the development of agriculture stands as the back bone to the development of a country and the development of standard of living of the people in the country. Thus all the countries should give prior importance to the development of agriculture.
Role of agriculture in development Agriculture has an important role to play in the economic development of an agrarian economy like that of India.
• Supply of labor
Agriculture also contributes to the development through the supply of labor. An agriculture economy by definition provides work to almost the entire labor force of the economy.
• Enlarged exports
Agriculture can also contribute to the foreign currency earning of the economy.
• Contributions to capital formation
Agriculture can also contribute to a growing country’s needs for large capital recourses. This is all the more important because with the existing modern capital sector being small, there is little that can come from this sector by way of surpluses or profits for investments.
• Increased output to stimulate industrial expansion
Large incomes of the rural people resulting from agricultural expansion can stimulate industrial growth.
Indian agriculture; importance India is considered as an agrarian economy. More than 70% of the people are engaged in agricultural activities for their living. Agriculture plays a crucial role in the development of the Indian economy. It accounts for about 19 per cent of GDP and about two thirds of the population is dependent on the sector. The development of the Indian economy depends upon the
Agriculture is the organized way of cultivating both food cops and cash crops. It is through the development of agriculture the human beings started organized way of living. The development of agriculture led to the development of civilized life of man. The agricultural sector is important in all the aspect of human life because it provides food materials and raw materials to industries. So the development of agriculture stands as the back bone to the development of a country and the development of standard of living of the people in the country. Thus all the countries should give prior importance to the development of agriculture.
Role of agriculture in development Agriculture has an important role to play in the economic development of an agrarian economy like that of India.
• Supply of labor
Agriculture also contributes to the development through the supply of labor. An agriculture economy by definition provides work to almost the entire labor force of the economy.
• Enlarged exports
Agriculture can also contribute to the foreign currency earning of the economy.
• Contributions to capital formation
Agriculture can also contribute to a growing country’s needs for large capital recourses. This is all the more important because with the existing modern capital sector being small, there is little that can come from this sector by way of surpluses or profits for investments.
• Increased output to stimulate industrial expansion
Large incomes of the rural people resulting from agricultural expansion can stimulate industrial growth.
Indian agriculture; importance India is considered as an agrarian economy. More than 70% of the people are engaged in agricultural activities for their living. Agriculture plays a crucial role in the development of the Indian economy. It accounts for about 19 per cent of GDP and about two thirds of the population is dependent on the sector. The development of the Indian economy depends upon the