The paper "Agriculture and Saving and Investment in India" is a perfect example of a macro and microeconomic case study. In the process of growth and property that is today witnessed in many Asian countries, there are several factors that are considered to contribute to such growth. While others argue that it is majorly oil and minerals, in some cases, it is agriculture and saving and investment (Park & Shin, 2009). India is one of such cases. Park & Park (2010) claim that India is a low- middle-income country in which high regard for agriculture, and saving and investment culture are considered as the major ingredients which have contributed towards its development.
However, such culture has been accompanied by some policies which provide direction to which agricultural practices will follow. These policies are some of the changes which have been done in India to influence development; these policies were done in four stages. According to Tripathi & Prasad (2009, p. 65), the Phase stage was from 1947 to the mid-1960s, stage two mid-1960s to 1980, stage three was from 1981 to 1991, and the last stage was from 1992 up to date.
Based on the information, this essay will discuss how policy initiatives on agriculture and saving and investment have influenced the economic development of India since 1960. This essay considers the period from the 1960s to date. Therefore, some of the policies which will be discussed include the irrigation project development and improving cooperative credits, high-yielding crop varieties. On saving and investments, policies such as foreign investment policy, currency exchange limits, and physical capital improvement policy will be discussed. Agricultural policies In the past, the county has depended on the service sector, industrial sector, and agriculture to improve its economy, but the level of commitment had not to yield high performance (Somini, (2008).
It is until the 1960s that Indian citizens started venturing into serious agriculture and culture of saving and investment after realizing its importance to the economy from other countries.
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