On the Role of Agriculture in India's Longer-Term Development Strategy

Servaas Storm

Cambridge Journal of Economics, 1995, vol. 19, issue 6, 761-88

Abstract: Two contrasting views on agriculture's role in India's longer-term development strategy are identified and evaluated with the help of a dynamic multisector model, capturing the structural features of India's mixed economy. The simulation results show that policy recommendations favoring industrial growth, in which the interdependence between agriculture and industry is not taken into account, turn out to be self-defeating, while policies succeeding in raising agricultural production and income also lead to improved industrial performance because they augment the size of the domestic market. Hence, the results suggest that Indian industrialization can be only sustained by agriculture. (c) 1995 Academic Press Limited Copyright 1995 by Oxford University Press.

Date: 1995
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