Growth of and Fluctuations in India’s GDP and GDP Accruing from Agriculture During 1970-71 to 2019-20

Dipankar Pradhan; Debasish Mondal

doi:10.55524/ijirem.2024.11.5.12

Abstract

In India, agricultural sector output plays a significant role in the beginning phase of the growth of the economy because it absorbs the majority of employment. The agriculture sector includes crop production, livestock rearing, forestry, and fishing. However, the agricultural sector has experienced several fluctuations due to various factors, such as monsoon variability, natural disasters, government policies, and market conditions. These fluctuations have had a substantial influence on the overall economic growth of the nation. In this present paper, we try to find the linear growth and fluctuations around the linear of India's GDP and the agricultural sector output for 50 years long period from 1970-71 to 2019-20. The outcome of this study reveals that the annual average growth rate is 5.52% for GDP and 2.89% for the agricultural sector. The Coppock based year-to-year fluctuation around the trend is 0.00089 for gross domestic product and 0.00191 for the agricultural sector output. The overall fluctuation using the RSS-based method is 0.00520 for GDP and 0.00309 for GDPA.

Keywords

Growth, Fluctuation, GDP, Agricultural GDP, CDVI, Coppock Index, Decadal GDP, JEL Classification O4, Q1.

Reference

[1] D. Pradhan and D. Mondal, "Growth and fluctuation in India’s GDP and sectoral GDP: 1970-71 to 2019-20," Vidyasagar University Journal of Economics, vol. 27, pp. 125–139, 2023. Available from: https://www.researchgate.net/publication/372750720_Growth_and_Fluctuation_in_India's_GDP_and_Sectoral_GDP_1970-71_to_2019-20

[2] D. Pradhan and D. Mondal, "Growth of India’s GDP during the period 1970-71 to 2019-20: An econometric analysis," International Journal of Innovative Research in Engineering and Management (IJIREM), vol. 11, no. 5, pp. 16–21, 2024. Available from: https://doi.org/10.55524/ijirem.2024.11.5.3.

[3] D. Pradhan and D. Mondal, "Relative importance of openness index and crude oil price in explaining growth of India's GDP during 1970-71 to 2019-20," International Journal of Innovative Research in Engineering and Management (IJIREM), vol. 10, no. 6, pp. 60–65, 2023. Available from: https://doi.org/10.55524/ijirem.2023.10.6.9.

[4] J. C. Leith, "The decline in world export instability: A comment," Bulletin, Aug. 1970. https://doi.org/10.1111/j.1468-0084.1970.mp32003006.x

[5] J. D. A. Cuddy and P. A. Della Valle, "Measuring the instability of time series data," Oxford Bulletin of Economics and Statistics, vol. 40, no. 1, pp. 79–85, 1978. Available from: https://doi.org/10.1111/j.14680084.1978.mp40001006.x.

[6] J. D. Coppock, International Economic Instability: The Experience after World War II. London: McGraw-Hill, 1962. [Online]. Available: https://doi.org/10.1093/ia/39.4.592c.

[7] R. Chand and S. S. Raju, "Instability in Indian agriculture during different phases of technology and policy," Indian Journal of Agricultural Economics, vol. 64, no. 2, pp. 187–207, 2009. Available from: https://www.cabidigitallibrary.org/doi/full/10.5555/20093345344

[8] S. K. Mondal, P. Saha, N. B. Mondal, and U. K. Mazumder, "Free radical scavenging property of Annona reticulata leaves," Oriental Pharmacy and Experimental Medicine (OPEM), vol. 8, no. 3, pp. 260–265, 2008. Available from: https://doi.org/10.3742/OPEM.2008.8.3.260

Cites this article as

D. Pradhan, D. Mondal, "Growth of and Fluctuations in India’s GDP and GDP Accruing from Agriculture During 1970-71 to 2019-20", International Journal of Innovative Research in Engineering & Management (IJIREM), Vol-11, Issue-5, Page No-87-93, 2024. Available from: https://doi.org/10.55524/ijirem.2024.11.5.12

Corresponding Author

Dipankar Pradhan

Assistant Professor, Faculty of Management and Commerce, The ICFAI University, Tripura, India

Download Full Paper

Download PDF

No. of Downloads: 21 | No. of Views: 241

-->

IJIREM

Growth of and Fluctuations in India’s GDP and GDP Accruing from Agriculture During 1970-71 to 2019-20

Citations

Download Full Paper PDF

Total View 241

Total Download 21