The Economic Times – Online

Agriculture, the modern terminology which generalises economic activities ranging from farming to animal husbandry, had been the pillar of global economy before paving way for industrial revolution. As seen through the development of economies around the globe, development begins with people adopting agriculture, and the primary sector usually becomes the largest employer. Agriculture which started, in the early times, with an intent of subsistence, has effectively transitioned itself into a commercial marketplace, resulting in the formation of well-developed marketing systems, that has not only eliminated the thought of “double coincidence of wants”(barter), but has also underlined a need for a powerful exchange mechanism in the form of money. In India, prior to the Green ...