Study the following table and answer the questions that follow:
Which sector has continued to witness a high level of growth during the
reform period? (1)
(b) During the reform period, the growth of agriculture has declined. Give
any three reasons. (3)
(c) During reform period, the industrial growth has also recorded a
slowdown. Give reasons. (2)
Dear Student
A. Services sector witnessed the highest growth during reform period.
B. Reasons why growth of agriculture declined during reform period:
1. Low capital formation in agriculture resulted in lack of infrastructure
2. Poor irrigation systems and lack of modern methods of irrigation led to increasing costs and low productivity
3. Lack of cheap institutional credit forced farmers to take money from local moneylenders eventually falling into a vicious cycle of poverty.
C. Reasons for slowdown in industrial sector during reform period:
1. Exposure to external competition led to low investment in industrial sector.
2. Lack of funds, led to low capital formation which hurt growth.
Regards
A. Services sector witnessed the highest growth during reform period.
B. Reasons why growth of agriculture declined during reform period:
1. Low capital formation in agriculture resulted in lack of infrastructure
2. Poor irrigation systems and lack of modern methods of irrigation led to increasing costs and low productivity
3. Lack of cheap institutional credit forced farmers to take money from local moneylenders eventually falling into a vicious cycle of poverty.
C. Reasons for slowdown in industrial sector during reform period:
1. Exposure to external competition led to low investment in industrial sector.
2. Lack of funds, led to low capital formation which hurt growth.
Regards