Podcast
Questions and Answers
What percentage of India's population is directly dependent on agriculture for living?
What percentage of India's population is directly dependent on agriculture for living?
- 30%
- 47% (correct)
- 60%
- 25%
Which crop is NOT mentioned as a major producer by India?
Which crop is NOT mentioned as a major producer by India?
- Maize (correct)
- Wheat
- Rice
- Cotton
What was the estimated Gross Value Added by the agriculture and allied sector in 2021-22?
What was the estimated Gross Value Added by the agriculture and allied sector in 2021-22?
- 18.8% (correct)
- 20.5%
- 25.1%
- 15.3%
Which product did India emerge as the world's largest producer of?
Which product did India emerge as the world's largest producer of?
What was the growth rate of the Indian livestock sector during the last decade (2010-19)?
What was the growth rate of the Indian livestock sector during the last decade (2010-19)?
Which category had the index number above 140 in agricultural production for 2021-22?
Which category had the index number above 140 in agricultural production for 2021-22?
What was the food grains production in India for the year 2021-22?
What was the food grains production in India for the year 2021-22?
What was the recorded growth rate of agriculture in the economic survey for 2022-23?
What was the recorded growth rate of agriculture in the economic survey for 2022-23?
What significant change was made to the Foreign Investment Promotion Board (FIPB) in 2017?
What significant change was made to the Foreign Investment Promotion Board (FIPB) in 2017?
What percentage increase did FDI experience after the introduction of the Foreign Investment Facilitation Portal?
What percentage increase did FDI experience after the introduction of the Foreign Investment Facilitation Portal?
Which program was established to aid in innovation and entrepreneurship in India?
Which program was established to aid in innovation and entrepreneurship in India?
What does the Remission of Duties and Taxes on Export Products (RoDTEP) aim to replace?
What does the Remission of Duties and Taxes on Export Products (RoDTEP) aim to replace?
Which policy provides preference to locally manufactured goods in public procurement?
Which policy provides preference to locally manufactured goods in public procurement?
What was the improvement in India's rank in the Global Innovation Index from 2015 to 2022?
What was the improvement in India's rank in the Global Innovation Index from 2015 to 2022?
What is the focus of the National Logistics Policy (NLP)?
What is the focus of the National Logistics Policy (NLP)?
Which sector allows 100% FDI under the automatic route?
Which sector allows 100% FDI under the automatic route?
Which period marks the rule of the East India Company over India?
Which period marks the rule of the East India Company over India?
What is the purpose of the Pradhan Mantri Fasal Bima Yojana (PMFBY)?
What is the purpose of the Pradhan Mantri Fasal Bima Yojana (PMFBY)?
What was the primary impact of British rule on India’s foreign trade?
What was the primary impact of British rule on India’s foreign trade?
Which measure aims to promote sustainable farming through organic practices?
Which measure aims to promote sustainable farming through organic practices?
What effect did heavy tariffs on Indian exports have on domestic manufacturers?
What effect did heavy tariffs on Indian exports have on domestic manufacturers?
What does the Per Drop More Crop (PDMC) scheme focus on?
What does the Per Drop More Crop (PDMC) scheme focus on?
Which of the following best describes the impact of the industrial revolution in Britain on India's economy?
Which of the following best describes the impact of the industrial revolution in Britain on India's economy?
What cultural shift occurred among the Indian consumers during British rule?
What cultural shift occurred among the Indian consumers during British rule?
What is the primary goal of the Agri Infrastructure Fund?
What is the primary goal of the Agri Infrastructure Fund?
Which initiative is designed to create a unified market for agricultural commodities?
Which initiative is designed to create a unified market for agricultural commodities?
How did British policies adversely affect Indian handicrafts?
How did British policies adversely affect Indian handicrafts?
Which economic structure was primarily disrupted due to British colonial policies?
Which economic structure was primarily disrupted due to British colonial policies?
What economic support do farmers receive through the PM KISAN program?
What economic support do farmers receive through the PM KISAN program?
What does the Mission for Integrated Development of Horticulture (MIDH) focus on?
What does the Mission for Integrated Development of Horticulture (MIDH) focus on?
What consequence did the shift in demand patterns among Indian consumers have?
What consequence did the shift in demand patterns among Indian consumers have?
What is a primary concern regarding Indian agriculture today?
What is a primary concern regarding Indian agriculture today?
What percentage of total FDI equity inflows into India was accounted for by the services sector?
What percentage of total FDI equity inflows into India was accounted for by the services sector?
Which country is the seventh largest recipient of FDI among the top 20 host countries in 2021?
Which country is the seventh largest recipient of FDI among the top 20 host countries in 2021?
What was the total amount of FDI inflows received by India in 2021-22?
What was the total amount of FDI inflows received by India in 2021-22?
Which sector was allowed 100 percent foreign participation through the Automatic Route?
Which sector was allowed 100 percent foreign participation through the Automatic Route?
To what percentage was the FDI ceiling in insurance companies raised?
To what percentage was the FDI ceiling in insurance companies raised?
What recent global challenge did India face, as noted in the India Development Update of November 2022?
What recent global challenge did India face, as noted in the India Development Update of November 2022?
What percentage did India's real GDP grow by in the July-September period of 2022-23?
What percentage did India's real GDP grow by in the July-September period of 2022-23?
Why is India's economy considered more insulated from global spillovers than other emerging markets?
Why is India's economy considered more insulated from global spillovers than other emerging markets?
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Study Notes
British Rule and Economic Impact in India
- British colonial rule in India is divided into two periods: East India Company rule (1757-1858) and British government rule (1858-1947).
- The Industrial Revolution in Britain heightened demand for raw materials, transforming India from an exporter of finished goods to an exporter of raw materials.
- Discriminatory tariff policies led to high costs for Indian finished goods, resulting in loss of competitiveness against cheaper imports.
- The decline of Indian handicrafts due to imperial policies and competition from machine-made goods had significant adverse economic and social consequences.
- Traditional village economies, which integrated agriculture and handicrafts, were disrupted, leading to structural damages.
Agricultural Production and Market Position
- India is the world’s largest producer of milk, pulses, jute, and spices, and has the largest area planted under wheat, rice, and cotton.
- It ranks as the second-largest producer of various agricultural products, including fruits, vegetables, tea, and sugarcane.
- The retail sector drives 70% of the Indian food and grocery market, making it the world’s sixth largest.
- India has the largest cattle herd globally and attained a livestock growth rate of 6.6% from 2010 to 2019.
Economic Contribution of Agriculture
- Approximately 47% of India’s population relies on agriculture for their livelihood.
- The Gross Value Added (GVA) by agriculture was 18.8% for the fiscal year 2021-22, indicating its continued importance despite declining shares in overall GVA.
- Food grains production peaked at 315.7 million tonnes in 2021-22, showcasing a sustained increase in agricultural output.
Recent Developments and FDI in Agriculture
- Government initiatives, including PM KISAN and Minimum Support Price (MSP) policies, support farmer income and rural development.
- The National Logistics Policy (NLP) aims to enhance the logistics sector, while the Start-up India Programme promotes innovation.
- FDI reforms have simplified approval processes, resulting in a 39% increase in foreign investments since the introduction of the Foreign Investment Facilitation Portal.
- The Remission of Duties and Taxes on Export Products (RoDTEP) was established to boost exports by offering rebates on various taxes.
Challenges and Innovations in Indian Agriculture
- Indian agriculture faces challenges, particularly the predominance of small and medium farmers.
- E-NAM, a national electronic trading portal, aims to unify the agricultural market.
- Kisan Rail improves logistics for agricultural products, while various schemes promote mechanization and crop insurance.
Conclusion and Future Outlook
- Despite external challenges from global events like the Russia-Ukraine war, the Indian economy showed resilience with a 6.3% real GDP growth rate in mid-2022.
- India’s economy is relatively less exposed to international trade fluctuations due to its large domestic market, positioning it favorably among emerging economies.
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