Although there has been a drop in the share of agriculture in the GDP from 36.4 per cent in the 1980s to around 17.0 per cent now, the number of people dependent on agriculture for their food and livelihood remains largely unchanged at nearly 60 per cent underscoring the importance of agriculture to sustain growth in the country.
But, given the blanket guarantee provided by the Government on deposits and other banks’ liabilities, this is certainly much more costly. And it is more so since it will not provide any solution. Many of the banks will likely go bankrupt, and the economy is left with no one to finance. 6.