Economic Assignment New

National income trends National Income indicates the aggregate value of money of the annual flow of final goods and services in the national economy. Gross National Product (GNP), Gross Domestic Product (GDP), Gross National Income (GNI), Net National Product (NNP), and Net National Income (NNI) are some of it’s measures. Let’s see the trends in national income over the years in terms of GDP for 4 major sectors

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 2003- 2004. This shows that Agriculture Growth Rate in India GDP has grown very slowly in the last few yearsIn relative terms, the decline of agriculture in the share of GDP from 24.7 to 20.5 is also good since the decline implies that services and manufacturing are gaining share and that implies that we are moving away from a subsistence economy. For instance, here are some numbers of the share of agriculture in overall GDP of some nations.

Country % share of AG in GDP of various countries Albania 54 Australia 3 Bangladesh 21 Belgium 1 China 17 (was 27% in 1990) Ethiopia 49 (was 49% in 1990) France 2 Germany 1 Ghana 36 Nepal 41 Pakistan 26 Sri Lanka 21 US 2 The level tells us roughly if the country is poor or not.Albania, Ethiopia,Nepal, Ghana — economies with agriculture accounting for a large share of the GDP. Australia, France, Germany, US — agriculture accounts for low single-digit shares of the GDP. .