A) How did government ensure that small farmers also benefit from the green revolution as the rich farmers?
B) ?Poor nations can progress only if they have a good industrial sector?. Explain
required more capital. Green Revolution would have benefitted only the rich farmers if the
government had not played an important role in ensuring that the small farmers could also have
gained from the new technology. The government provided loans at low rates of interests. The fertilisers and High Yielding Varieties (HYVs) of seeds were subsidised.
B)Industrial Growth and its Impact
As recently as 1950, the world manufactured only one-seventh of the goods it does today, and produced only one-third of the minerals. Industrial production grew most rapidly between 1950 and 1973, with a 7 per cent annual growth in manufacturing and a 5 per cent growth in mining. Since then growth rates have slowed, to about 3 per cent yearly between 1973 and 1985 in manufacturing and virtually zero growth in mining.That earlier, rapid growth in production was reflected in the rising importance of manufacturing in the economies of virtually all countries. By 1982, the relative share of value added to gross domestic product by manufacturing (the 'manufacturing value added', or MVA) ranged from 19 per cent in developing countries as a whole to 21 per cent in industrialized market economies and 51 per cent of net material product in centrally planned economies. (See Table 8-1.) If the extractive industries are taken into account, the share is even higher.
Share of Manufacturing Value Added in GDP, by Economic Grouping and Income Group 1960 1970 1980 1962 Group of Countries per cent Developing Countries 14.2 16.6 19.0 19.0 Low income 11.2 13.8 15.0 15.0 Lower-middle income 11.0 13.5 16.4 16.6 Intermediate income 10.6 14.4 17.1 17.6 Upper-middle income 19.4 21.6 24.1 23.3 High income 17.2 16.2 17.2 17.9 Developed Market Economies 25.6 26.3 27.9 27.1 Centrally Planned Economies* 32.0 42.4 50.5 50.8 * Figures refer to the share of manufacturing value added (estimated) in net material product. Data are constant (1975) prices.