An Econometric Analysis of Agricultural Production and Economic Growth in India

Authors

  •   Dhiresh Kulshrestha Associate Professor of Economics, Marwadi University, Rajkot - 360 003, Gujarat
  •   Kiran Kumar Agrawal Associate Professor of Marketing, Marwadi University, Rajkot - 360 003, Gujarat

DOI:

https://doi.org/10.17010/ijom/2019/v49/i11/148276

Keywords:

Agriculture Production

, GDP, Economic Growth, Regression Model.

Paper Submission Date

, November 10, 2018, Paper Sent Back for Revision, June 25, 2019, Paper Acceptance Date, September 10, 2019.

Abstract

Agriculture continues to be the backbone of the Indian economy-this is hardly an extravagant statement. India is the world's second most populous country after China. India is the world's largest producer of jute, pulses, and milk and ranks as the second largest producer of wheat, rice, cotton, groundnut, sugarcane, and horticulture crops. In the present study, the interrelationships between agricultural production and economic growth were studied in an interdependent framework for economic growth keeping in view set policy guidelines for agricultural development in India. The econometric model is formulated with aggregate information available over the period of 1961-2017 (economic reforms to new India concept) and both static and Augmented Dickey-Fuller test (ADF) along with Johansen co-integration test and regression analysis were carried out to assess the performance of the set model. This study examined the agricultural production and its impact on economic growth in India. The study revealed that if there had been no increase in agricultural output (explanatory variables) in India, it would have negatively impacted the economic growth in India.

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Author Biographies

Dhiresh Kulshrestha, Associate Professor of Economics, Marwadi University, Rajkot - 360 003, Gujarat

ORCID ID : https://orcid.org/0000-0002-08221-7929

Kiran Kumar Agrawal, Associate Professor of Marketing, Marwadi University, Rajkot - 360 003, Gujarat

ORCID ID : https://orcid.org/0000-0002-0974-5290

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Additional Files

Published

2019-11-30

How to Cite

Kulshrestha, D., & Agrawal, K. K. (2019). An Econometric Analysis of Agricultural Production and Economic Growth in India. Indian Journal of Marketing, 49(11), 56–65. https://doi.org/10.17010/ijom/2019/v49/i11/148276

Issue

Volume 49, Issue 11, November 2019

Section

Articles
Crossref
Scopus
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Europe PMC

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