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How does agriculture promote the Indian industrial development ?
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- By opening up market for industrial products
- By providing food and clothing to labourers
- By supplying raw materials
- All of the given options
- By opening up market for industrial products
Correct Option: D
According to Prof. Kindleberger, Todaro, Lewis and Nurkse etc., agriculture makes its contribution to economic development in several ways, viz.,: l By providing food and raw material to non-agricultural sectors of the economy, l By creating demand for goods produced in non-agricultural sectors, by the rural people on the strength of the purchasing power, earned by them on selling the marketable surplus, l By providing investable surplus in the form of savings and taxes to be invested in non-agricultural sector, l By earning valuable foreign exchange through the export of agricultural products, etc.