International Journal of Mathematics Trends and Technology
Volume 55 | Number 4 | Year 2018 | Article Id. IJMTT-V55P531 | DOI : https://doi.org/10.14445/22315373/IJMTT-V55P531
Our prime objective is to study the effect of agriculture sector on Indian economy by using Solow growth model. Another objective is to study the effect of Agriculture sector on GDP of Indian economy during the period 1990 to 2010. Indian economy is primly depends upon Agriculture sector. This sector affects on GDP of our country. To predict the economical growth or to observe behaviour of Indian economy. It is necessary to work on agriculture sector using Solow production model and the modelling in differential equation. In the beginning we estimate the parameters for the period 1990 to 2010. The computations where capital labour force total factor productivity and total productions and also the real GDP growth figures and their variations. This model provide the best approximation to predict effect of agriculture sector in Indian economy withrespect to real aggregate GDP growth.The ratio of the main economical variables like production per worker, capital output ratio and capital per worker.The result shows a close relationship between actual and calculated growth rate in the period 1990 to 2010. We conclude a correlation between actual growth rates and calculated growth rates are near about similar.
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Shinde Ramesh Govindrao, Kiwne S.B, "Modelling of Economic Growth Rate of Agriculture Sector of India using Solow Growth Model with Growth Differential Equation," International Journal of Mathematics Trends and Technology (IJMTT), vol. 55, no. 4, pp. 242-255, 2018. Crossref, https://doi.org/10.14445/22315373/IJMTT-V55P531
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