Vol. 11 No. SP
Growth dimensions of Karnataka economy in post liberalization period
Author(s): K K R Patil, manjunatha G. R and vishwajith K. P
Abstract: Karnataka’s economy is composed of agriculture, manufacturing and service sectors in different combinations. For Economic growth, identification of key sector/factor is crucial and accordingly investment has to be made in such sector /factor rather than overall investment on all the sectors /factors which is called as hirshmanian unbalanced growth concept. Factor analysis was used to identify crucial dimension influencing economy during the post liberalization period (base period from 1997-2001 and terminal period from 2002-2006). The major dimensions identified in the base period are Technology lead Irrigated Agriculture, Services and Manufacturing, Farm Management and Savings and Market Potential. In terminal period the dimensions extracted were Technology lead rainfed agriculture, Services and Manufacturing, Marginalized agriculture and Irrigated agriculture. The change in the dimension was observed within the decade. Technology led rainfed agriculture is identified as the key factor in the terminal period which is the main source of stable staple food in Karnataka. Hence necessary action should be taken towards dissemination, adoption of technology pertinent to rainfed agriculture through effective extension system.
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