GDP1 (Gross Domestic Product) Distribution.
- 25% is from Agriculture
- 30% is from Industry (of which 19% is manufacturing)
- 45% is from Services & Information Technology
Labor Force: 470 million
Labor Force Distribution
- 60% Agriculture
- 23% Industry
- 17% Services & Information Technology
Decline in contribution of agriculture towards GDP for the past two decades is in sync with the growth pattern of any developing countries. The share of agriculture in the GDP has shrunk to 25% in 2004 from 40% two decades ago, however the labor force reduction was only 10% i.e., from 70% two decades ago to 60% as of now.
Services & Others
59.7 % of GDP
30.1 % of GDP
62.4% of GDP
GDP per Capita3
GDP Real Growth Rate5
The transformation in the GDP is typical of developing country experience. However, if you look at the labor force distribution, we find that 75% of the GDP contribution comes from 40% of the labor force.
All successful developing economies moved significant numbers of people out of agriculture as the share of agriculture in the GDP declined. Looking at the developed nations GDP (see US) shows this fact.
So, over here 60% of (Labor force) our population is dependant on Agriculture and imagine the chaos it will create when there is monsoon failure. Another misconception is that while
The question over here is –
WHAT CAN WE (The people of
1. GDP – Gross Domestic Product is the value of all final goods and services produced within a nation in a given year.
2. Public Debt – The cumulative total of all government borrowings less repayments that are denominated in a country's home currency. It should not be confused with external debt, which reflects the foreign currency liabilities of both the private and public sector and must be financed out of foreign exchange earnings.
3. GDP Per Capita - GDP on a purchasing power parity basis divided by population.
4. PPP – Purchasing Power Parity (2004 estimate).5. GDP Real Growth Rate - GDP growth on an annual basis adjusted for inflation and expressed as a percent.