When one says indian economy these are the thing which comes to our mind,

• World's 12^th largest economy with a Gross Domestic Product (GDP) of 1,209,686 million (USD).
• 4th largest GDP in terms purchasing power parity.
• One of the fast growing economy in the world.
• Tipped to become larger than USA's economy in 2050.
• A labor force of 523.5 million.
  

Well the last point doesnt really relate to our economy but to our population. When we look at this work force it is mainly divided into three major groups namely,

• agriculture 60%
• industry 12%
• services 28%

This is our countries labor force split , ok now you may ask "why are you tellin these details???"

Before going to the answer we will see some other data,

Take the following country their labour split and each sectors contribution to GDP.

1. Japan (GDP 4.28 trillion USD)

sector ----------------------labor split ----------------------contribution to GDP

Agriculture --------------------4.6% ------------------------------1.6%

Industry ----------------------27.8% ------------------------------25.3%

Services--------------------- 67.7% ------------------------------73.1%

2.Germany (GDP 3.81 trillion USD)

sector-------------------labor split------------------contribution to GDP

Agriculture -------------2.4% -----------------------------0.9%

Industry ----------------29.7% ----------------------------29.7%

Services ----------------67.5% -----------------------------69%

3. France(GDP 2.09 trillion USD)

sector -----------------labor split ------------------------contribution to GDP

Agriculture ----------------4.1% ----------------------------2.7%

Industry --------------------24.4% --------------------------24.4%

Services --------------------71.5% ---------------------------72.9%

Ok all these countries are ranked higher than India. Now lets see ours

India (GDP 1.209 trillion USD)

sector ------------------labor split-------------------contribution to GDP

Agriculture ------------------60% ---------------------------??

Industry ---------------------12%----------------------------- ??

Services --------------------28%----------------------------- ??

Now before continuing just try to fill in the question marks based on the details of other countries ....

Well in all countries the industry and services labor split ups was nearly equal to GDP split ups and in agriculture alone it was like half the percent of labour split up i.e if the labor split is 4% then its contribution to GDP will be some what 2% (not so accurate)

From class V we have read that agriculture is the back bone of India.Yeah there is no doubt in it.

Based on assumptions now let us estimate what would be the GDP split up for india :

should it be like this :

• agriculture: 60/2 = 30%
• industry: 12%
  
• services: 28%

the value dont add up to 100% so we will do it. Now the final values would be

• agriculture: 43%
• industry: 17%
  
• services: 40%

well guys i did this assessment just to compare our GDP's sectoral break up with other countries . But now we will see what is our real figures

India (GDP 1.209 trillion USD)

sector -------------------labor split--------------------------- contribution to GDP

Agriculture ---------------60%------------------------------------ mere 17%

Industry ------------------12%---------------------- amounts 2.4 times the labor split with 29%

Services------------------ 28%----------------------- amounts twice the labor split with 54%

Shocked are you ?? really agriculture is the backbone of our country but not the back bone of our economy. I think everyone will agree with this.

 A common man working in agriculture sector may ask "what is economic rise is that those numbers which i don' t understand".Not only that farmer but everyone one of us think that economic rise means increase in my own lifestyle. I go in a motorbike today after ten year if i go in a hatchback then it is economic rise. Everyone as their own assessments regarding their economic growth.

Well attaining 12^th position is a very good achievement for our country. But does this improve our lifestyle. Most people working in the industry and services sector are having a good status of living, really after the I.T boom many Indian middle class family has been promoted as upper middle class and they can spend more. But they together comprise only 40% remaining 60 % are from agriculture based sector and from the figures given earlier you can suggest its position. Really the same was not the case ten or fifteen years back. Ten years back more number of people were discontent but now that figure as somewhat comedown thanks to the rapid development in I.T field.

But our real challenge lies in developing agriculture rather we can say modernization of agriculture.But as I said most of our farmers are already poor and one may argue that modernisation is very hard. Then what can we do??????????? readers kindly give ur comments ...... I have my own ideas and i will soon publish it in the same hub or in a different hub in this weekend itself.....