Economy2020
With reference to the Indian economy after the 1991 economic liberalisation, consider the following statements:
- Wo r k e r p r o d u c t i v i t y ( R s. p e r w o r k e r a t
- The % age share of rural areas in the workforce steadily
- In rural areas, the growth in the non-farm economy
- The growth rate in rural employment decreased.
Which of the statements given above is/are correct?
Explanation
The correct statements concerning the Indian economy after the 1991 economic liberalisation are 3 and 4. The non-farm economy in rural areas experienced growth due to the diversification of rural livelihoods and increased opportunities in sectors like manufacturing and services, thus bolstering rural economies. Conversely, the growth rate in rural employment decreased as a result of urban migration and structural changes in agriculture, leading to a decline in traditional agricultural jobs, which underscores the transformative impact of liberalisation on the rural employment landscape.