ABSTRACT
India is one of the fastest-growing developing economies, with a current GDP of Rs. 234.71 lakh crore (~USD 2.84 trillion) for 2021–2022 (NSO, 2023). However, India's growth story is inconsistent with reality, as indicated by its HDI ranking, which stands at 131 (UNDP, 2020). There is a huge disparity in terms of income distribution across sectors. The agriculture sector, which employs around 40% of the workforce, contributes only 3.4% of GDP growth. And in rural areas, this disparity is more evident, with 64% of the workforce engaged in farming contributing only 31% of the net domestic product.
