A Study On Agriculture Credit And Role Of Regional Rural Bank Special Focus On Bhagalpur Bihar

Abstract

The history of agriculture in India dates back to the Neolithic. India ranks second worldwide in farm outputs. As per the Indian economic survey 2018, agriculture employed more than 50% of the Indian workforce and contributed 17–18% to the country's GDP. In 2016, agriculture and allied sectors like animal husbandry, forestry and fisheries accounted for 17.5% of the GDP (gross domestic product) with about 41.49% of the workforce in 2020. India ranks first in the world with highest net cropped area followed by US and China. The economic contribution of agriculture to India's GDP is steadily declining with the country's broad-based economic growth. Still, agriculture is demographically the broadest economic sector and plays a significant role in the overall socio-economic fabric of India. The total agriculture commodities export was US$3.50 billion in March - June 2020. India exported $38 billion worth of agricultural products in 2013, making it the seventh largest agricultural exporter worldwide and the sixth largest net exporter. Most of its agriculture exports serve developing and least developed nations. Indian agricultural/horticultural and processed foods are exported to more than 120 countries, primarily to the Japan, Southeast Asia, SAARC countries, the European Union and the United States.