What is it about?
This study makes a decomposition of the total decline in the share of agriculture in GDP and found that the relative price effects were the minor influences. Changes in the economy's stock of capital and labor and a possible bias against agriculture were contributed over three fourth of the total decline in the share of agriculture in the Bihar economy.
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Why is it important?
As capital and labor variables account for three fourth of the share of the decline in its contribution to GDP, it needs reorientation of focus towards capital accumulation and technical change in the Agricultural& Allied sector in Bihar.
Perspectives
The Agricultural & Allied sector in Bihar needs a major reorientation of policy toward the creation of opportunities for more capital generation and introduces major technical changes to ensure food security in the future.
Dr. Jitendra Kumar Sinha
Retired from Directorate of Economics & Statistics, Bihar.
Read the Original
This page is a summary of: Syndrome of Declining Economic Importance of Agriculture in Bihar (1960-2018), Journal of Humanities Arts and Social Science, January 2022, Hill Publishing Group Inc.,
DOI: 10.26855/jhass.2022.01.001.
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