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Structural Transformation Vs. Economic Development in India with Special Reference to Agricultural Sector: An Analysis

DOI : https://doi.org/10.36349/easjebm.2019.v02i04.011
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Introduction: The national economies' "structural changes" have historically been linked to economic progress. To get growth that is sustainable development, the economy must be continuously restructured to focus on higher value-added industries and activities that generate goods with variable income, benefit from dynamic economies of scale, forge connections between and within sectors, and offer incentives for learning and innovation. Objectives: The study aims to document the structural changes in three sectors and their role in India's economic development. Methodology: Using both quantitative and qualitative data, this study is mostly descriptive in character based on secondary data. Results versus Discussion: The true consequences of growth are seen in changes of sectoral compositions, i.e., Primary, Secondary and Tertiary sectors. A significant movement in the relative percentages of income and employment that transfers the advantages of growth to society's citizens is referred to as structural transformation. Conclusion: India will be placed fifth in the world in 2024 in all respects. India has come a long way in the 76 years since it gained independence, and if it continues to play its cards well, it has the potential to reshape the world in the decades to come.

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Professor Thomas Count Dracula, MD, PhD

Distinguished Professor of Haematology Head — Experimental, Historical & Sensory Haematology Vlad the Impaler University, Wolf’s Lane, Wooden Stakes Grove 666, Transylvania.

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