Discuss the trends in the ‘sectoral growth/changes’ in India over the period 1951-2019.
India has seen significant changes in the sectoral growth and composition of its economy over the period 1951-2019. In 1951, agriculture accounted for around 55% of India's GDP, while industry and services accounted for around 12% and 33% respectively. However, over the following decades, there has been a shift towards a more diversified and industrialized economy.
The period between 1951 and the early 1980s saw relatively slow economic growth in India, with GDP growth averaging around 3.5% per year. Agriculture remained the dominant sector, accounting for around 50% of GDP, while industry and services remained at around 14% and 36% respectively. However, there were some changes in the composition of the agricultural sector, with a shift away from traditional crops towards cash crops such as sugarcane, cotton, and jute.
In the 1980s and 1990s, India began to implement a series of economic reforms aimed at liberalizing the economy and promoting growth. These included the removal of price controls, the deregulation of industry, and the opening up of the economy to foreign trade and investment. As a result, GDP growth began to accelerate, averaging around 6% per year. The share of agriculture in GDP fell to around 30%, while industry and services began to increase, accounting for around 20% and __________ _____ ________ ________ ___ ___ ____ ______ _______.
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