GSI – UNIT 1

B.com (Hons) - 5

Unit - 1

Nature and structure of Indian economy

Introduction

The Indian economy is a mixed economy, meaning it has a combination of private and public sector
ownership. It is the sixth largest economy in the world in terms of nominal GDP and the third largest by
purchasing power parity. The main sectors of the Indian economy are agriculture, manufacturing, and
services. Agriculture employs a majority of the population but contributes to a small portion of the GDP,
while the services sector is the largest contributor to the GDP and employs a growing middle-class
population. The manufacturing sector has seen growth in recent years and is becoming increasingly
important for employment and economic growth. The Indian government plays a significant role in the
economy through regulations and public sector enterprises, but has also undertaken economic liberalization
and reform measures to encourage private sector growth.

● The economy of India is a mixed, middle-income, developing social market economy.

● It is the world’s fifth-largest economy by nominal GDP and the third-largest by purchasing power
parity (PPP).
● From independence in 1947 until 1991, successive governments economic policies, with extensive
state intervention and economic regulation. Promoted protectionist Matog
● According to the International Monetary Fund (IMF), on a per capita income basis, India ranked
142nd by GDP (nominal) and 125th by GDP (PPP).
● Since the start of the 21st century, annual average GDP From 2013 to 2018, India was the world’s
fastest growing major economy, surpassing China. Growth has been 6% to 7%.
● For almost 2 millennia (from the 1st century to the 17th century) the Indian economy contributed
35%-40% of the world’s economy. Naba

History of the Indian Economy

● In the past as well, the Indian economy was one of the most stabilised and was the largest economy
around the world.
● By 1750, the Mughal Empire had a strong industrial manufacturing sector, with India contributing
around 25% of the world’s industrial output, making it the most significant manufacturing hub in
international commerce.
● Until the end of the 18th century, Mughal India accounted for almost 95% of the goods and textiles
exported to Europe from Asia, while the import was as low as negligible and was still sufficient for
the country.
● During the British period, the Indian economy was hit majorly, and it came down to 4.2% of the
world economy in 1950 from 24.4% in 1700.
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Features of the Indian Economy

The Indian economy is still on the list of developing economies of the world, owing to extremely high levels
of illiteracy, unemployment, poverty, and so on. Despite so many problems around the nation to be solved
and encountered on a daily basis, the Indian economy has a low GDP, compounded by the following issues:

● Poor Infrastructural Development

As per a recent report, India needs almost $100 million in infrastructure, to ensure the entire population
benefits from electricity, gets safe drinking water, and proper sanitation services.

● Imperfect Market

The Indian markets have a lot of easily exploitable loopholes. With an improper supply chain, the prices in
the market vary significantly at different locations.

● Low per Capita Income

The revenue of a country is highly dependent on the purchasing power of the population; the more they
spend or purchase products, the more is the increment in the revenues of the nation. However, to spend, the
population must earn more and must be able to fulfil their basic needs. Only then can they manage to
purchase other facilities and comfort. Therefore, per capita income is one of the key factors.

● High rate of Population Growth

With a vast population comes the requirement of resources. India is the world’s second-largest country in
terms of population. This population needs education, food, transportation, water resources, employment,
and other basic necessities to contribute to the development of the nation. As these resources are not
available in sufficient quantities in India, it is highly challenging for the nation to develop. And if this
continues, the nation will be in a perpetual developing stage.

● Poverty

It has been said, “A nation will be poor if it’s poor”, and this is an endless loop. Such loops of poverty
always hinder the progress of a country and are a major issue for a country to be reckoned as a developed
nation.

● Unadvanced Technology

Most of the work done in India is labour-intensive work. Thus, there is a huge gap between the technology
required in the industries and what is in use in the country.

● Income Disparity

The concentration of wealth in the country is highly focused and is possessed by 1% of the population of the
nation. This 1% of the population owns 53% of the wealth within the country. Therefore, poverty is one of
the important points that the government needs to highly focus on.

● Agro-based Economy

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The Indian economy is highly dependent on the agriculture sector. This sector adds up to almost 14% of the
total GDP of the country, and more than half of the population of the country is dependent on this sector.

● Capital Formation

The average income of a person in India is very low and the GDP of the country is dependent on this.
Therefore, there is a significant need for improvement in the rate of capital development.

● Social issues

Indian society is referred to as a backward society. This is due to communalism, a highly male-dominated
social structure, a regressive caste system, and other such malice.

Sectors of Indian Economy

1. Primary Sector

The primary sector in India is the sector which is largely dependant on the availability of natural resources in
order to manufacture the goods and also to execute various processes. The services in this sector are entirely
dependant on the availability of the natural resources in order to keep the day-to-day operations running.

As we have the clear idea of this sector is, the best example to discuss in this sector is the agriculture sector.
The other examples in this sector include fishing and forestry, but agriculture accounts for the largest in this
sector.

One of the major problem that this sector faces is the underemployment and the disguised employment.
Underemployment accounts for the workers not working to the best of their capabilities while the latter
accounts for the workers not working to their true potential.

As a solution to the problems, the state, as well as the national government, can increase the funds for the
irrigation facilities and provide loans for buying high-quality seeds and fertilizers.

2. Secondary Sector

The economy in the sector is dependent on the natural ingredients which are used to create the services and
products offered and which at the end are used for consumption. In terms of value added to the products and
services, this sector is the best sector. The major examples that fall under this category are transportation and
manufacturing.

Both these sectors end product is the consumption by the people. This sector is responsible for the
employment of almost 14 percent of the entire workforce currently working in India. The secondary sector
also contributes to almost 28 percent of the share of GDP. This sector is the backbone of Indian economy
and there are more development and growth in the near future.

3. Tertiary Sector

This sector contributes the largest in terms of share in GDP in India. The sector is also the service sector and
is important when you consider the development of the other two sectors. Like the previous sector, this
sector also adds the value to the products. This sector is responsible for employing 23 percentage of the
workforce out of the total workforce currently working in India.

The example of this sector is all service sectors which IT services, consulting, etc. This sector contributes to
almost 59 percent of the total share of GDP. The main problem that this sector is that the jobs which involve
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lower salaries do not attract much employment. And this remains the future dilemma as India is looking for
double-digit growth in the near future.

Indian Economy

1. Since independence India has been a 'mixed economy'. India's large public sectors were responsible for
providing employment and revenue to the economy.

2. India’s share in global exports and imports increased from 0.7% and 0.8% respectively in 2000 to 1.7%
and 2.5% in 2012 as per the WTO estimates.

3. Indian economy overview was highly inspired by Soviet Union's practices post-independence. It had been
recording growth rate not greater than five jumped till 1980s. This stagnant growth was termed by many
economists as 'Hindu Growth Rate'.

4. In 1992, the country ushered into liberalization regime. Thereafter, the economy started scaling upward.
This new trend in growth was called 'New Hindu Growth Rate'.

5. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide
range of modern industries and a multitude of services.

6. Services are the major source of economic growth, accounting for more than half of India's output with
less than one third of its labour force.

Indian Economy in 2021

Intending to be a $5 trillion economy by 2025, India is boosting its economy. At the end of the financial year
2021, the nominal GDP of the country was $3.29 trillion. If the GDP of the country is increased by a rate of
8% per annum for the upcoming years, then it is certain to achieve its aim by 2025. A few of the
developments are:

● In January 2022, the gross GST (Goods and Services Tax) income collection reached Rs. 1.38 trillion
(US$ 18.42 billion). This was a 15% increase over the previous year.

● According to the Department for Promotion of Industry and Internal Trade (DPIIT), FDI equity
inflows into India totalled US$ 547.2 billion from April 2000 to June 2021.

● The Index of Industrial Production (IIP) in India for November 2021 was 128.5, compared to 126.7
in November 2020.

● Consumer Food Price Index (CFPI) – Combined inflation was 2.9% in 2021-22 (April-December),
down from 9.1% the previous year.

● Consumer Price Index (CPI) – Combined inflation was 5.20% in 2021-2022 (April-December),
compared to 6.6% in 2020-2021.

● In the fiscal year 2021, foreign portfolio investors (FPIs) funded Rs.50,009 crore (US$ 6.68 billion).

What is growth and composition of Indian Economy ?

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The Indian economy has experienced significant growth in recent decades, with an average annual GDP
growth rate of around 7% since the early 2000s. However, this growth has not been evenly distributed across
sectors and regions.

● The composition of the Indian economy has also changed over time, with a shift from agriculture to
the services and manufacturing sectors.
● Agriculture, which was once the largest employer, now employs only a small portion of the
population and contributes to a smaller share of the GDP. T
● he services sector, on the other hand, has become the largest contributor to the GDP and is driving
the growth of the middle class.
● The manufacturing sector has seen a boost in recent years and is becoming increasingly important for
employment and economic growth.
● Overall, the Indian economy is becoming more diverse and dynamic, with a growing middle class
and increasing opportunities for private sector growth.
● The Indian economy has experienced significant growth in recent decades, with an average annual
GDP growth rate of around 7% since the early 2000s.
● However, this growth has not been evenly distributed across sectors and regions.

● The composition of the Indian economy has also changed over time, with a shift from agriculture to
the services and manufacturing sectors.
● Agriculture, which was once the largest employer, now employs only a small portion of the
population and contributes to a smaller share of the GDP.
● The services sector, on the other hand, has become the largest contributor to the GDP and is driving
the growth of the middle class.
● The manufacturing sector has seen a boost in recent years and is becoming increasingly important for
employment and economic growth.
● Overall, the Indian economy is becoming more diverse and dynamic, with a growing middle class
and increasing opportunities for private sector growth.

However, there are still challenges to be addressed, such as income inequality, poverty, and infrastructure
development, in order to sustain this growth and improve the standard of living for all Indians.

what are sectoral development of the Indian economy

The sectoral development of the Indian economy can be divided into three main sectors: agriculture,
industry, and services.

1. Agriculture: Agriculture is still an important sector in the Indian economy, employing around 50% of
the population. However, it contributes to a smaller share of the GDP, around 15%. The sector has
faced challenges such as low productivity, limited access to technology, and inconsistent monsoon
rains, but the government has implemented various reforms to improve the sector, such as increasing
the use of technology and providing credit and insurance to farmers.

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2. Industry: The industrial sector has seen significant growth in recent years, with a focus on
manufacturing and construction. The government has undertaken various reforms to encourage
private sector growth and improve the ease of doing business in the country. Key industries include
automobile manufacturing, pharmaceuticals, and information technology.
3. Services: The services sector is the largest contributor to the GDP, around 55%. It has grown rapidly
in recent years, driven by the growth of the middle class and the expanding Information Technology
(IT) sector. Key services sectors include financial services, tourism, and real estate.

Overall, the Indian economy is becoming more diverse and dynamic, with a growing middle class and
increasing opportunities for private sector growth. However, there are still challenges to be addressed, such
as income inequality, poverty, and infrastructure development, in order to sustain this growth and improve
the standard of living for all Indians.

The sectoral development of the Indian economy can be analyzed in terms of the contributions made
by different sectors towards the country's Gross Domestic Product (GDP) and employment.

● Agriculture: Agriculture has been the traditional mainstay of the Indian economy. However, its share
in the country's GDP has declined over the years, from around 50% in the 1950s to around 15% in
recent years. Despite this, agriculture continues to provide employment to a large percentage of the
population, particularly in rural areas. The government has implemented various programs aimed at
improving the productivity of the agriculture sector and increasing farmers' income.
● Manufacturing: The manufacturing sector has been a key driver of economic growth in India. Its
share in the country's GDP has increased over the years, from around 15% in the 1950s to around
18% in recent years. The government has implemented various policies aimed at promoting the
growth of the manufacturing sector, including the Make in India initiative.
● Services: The services sector has been one of the fastest-growing sectors in the Indian economy. Its
share in the country's GDP has increased significantly, from around 33% in the 1950s to around 67%
in recent years. This sector includes industries such as finance, tourism, and information technology
(IT). The government has implemented various policies aimed at promoting the growth of the
services sector, including the Digital India initiative.
● Mining: The mining sector has been a significant contributor to the Indian economy, although its
share in the country's GDP has remained relatively stable over the years, at around 3%. The
government has implemented various policies aimed at improving the efficiency of

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Agriculture:

● Agriculture and allied sectors like forestry, logging and fishing accounted for 17% of the GDP,
the sector employed 49% of its total workforce in 2014.
● Agriculture accounted for 23% of GDP,

● The state of Punjab led India’s Green Revolution and earned the distinction of being the
country’s bread basket.
● Amul Dairy Plant at Anand, Gujarat, was a highly successful co-operative started during
Operation Flood in the 1970s.
● India exports more than 100,000 tonnes of processed cashew kernels every year. There are more
than 600 cashew processing units in Kollam alone.
● India is the largest producer of milk, jute and pulses, and has the world’s second-largest cattle
population with 17 crore (170 million) animals in 2011.
● It Is the second-largest producer of rice, wheat, sugarcane, cotton and groundnuts, as well as the
second-largest fruit and vegetable producer, accounting for 10.9% and 8.6% of the world fruit
and vegetable production, respectively. India is also the second-largest producer and the largest
consumer of silk, producing 77,000 tons in 2005.
● India is the largest exporter of cashew kernels and cashew nut shell liquid (CNSL).

● India’s foodgrain production remained stagnant at approximately 25.2 crore (252 million) tonnes
(MT) during both the 2015-16 and 2014-15 crop years (July-June).

Manufacturing and industry:

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● Industry accounts for 26% of GDP and employs 22% of the total workforce.

● According to the World Bank, India’s industrial manufacturing GDP output in 2015 was 6th largest
in the world on current US dollar basis ($559 billion), and 9th largest on inflationadjusted constant
2005 US dollar basis ($197.1 billion).
● The Industrial sector underwent significant changes due to the 1991 economic reforms, which
removed import restrictions, brought in foreign competition, led to the privatisation of certain
government-owned public-sector industries, liberalised the foreign direct investment (FDI) regime,
improved infrastructure and led to an expansion in the production of fast-moving consumer goods.
● Post-liberalisation, the Indian private sector was faced with increasing domestic and foreign
competition, including the threat of cheaper Chinese imports.
● It has since handled the change by squeezing costs, revamping management, and relying on cheap
labour and new technology.
● However, this has also reduced ployment generation, even among smaller manufacturers who
previously relied on labour-intensive processes.
● Manufacturing and tech ndustries are geographically located in industrial regions in India,

Manufacturing industries in India include:

1. Defence: The total budget sanctioned for the Indian military for the financial year 2019-20 was
23.01 trillion (US$38 billion). Defence spending is expected to rise to US$62 billion by 2022,
2. Electricity sector:Primary energy consumption of India is the third-largest after China and US
with 5.3% global share in the year 2015
a. Coal and crude oil together account for 85% of the primary energy consumption of India,
India’s oil reserves meet 25% of the country’s domestic oil demand.
b. India became the world’s third-largest producer of electricity in 2013 with a 4.8% global
share in electricity generation, surpassing Japan and Russia.
3. Engineering: Engineering is the largest sub-sector of India’s industrial sector, by GDP, and the
thirdlargest by exports. It includes transport equipment, machine tools, capital goods,
transformers, switchgear, furnaces, and cast and forged parts for turbines, automobiles, and
railways.The industry employs about forty lakh (4 million) workers. On a value-added basis,
India’s engineering subsector exported $67 billion worth of engineering goods in the 2013-14
fiscal year, and served part of the domestic demand for engineering goods.● India is the 12th-
largest producer and 7th-largest consumer of machine tools. The automotive manufacturing
industry contributed $79 billion (4% of GDP) and Employed 67.6 (6.76 million) people (2% of
the workforce) in 2016.
4. Gems and jewellery: Many famous stones such as the Koh-i-Noor and Hope Diamond, came
from India. India is one of the largest centres for polishing diamonds and gems and
manufacturing Jewellery; it is also one of the two largest consumers of gold.● The gems and
jewellery industry created $60 billion in economic output on value-added basis in 2017, and is
projected to grow to $110 billion by 2022.

5. Infrastructure: India’s infrastructure and transport sector contributes about 5% of its GDP. India
has a road network of over 5,472,144 kilometres (3,400,233 mi) as of 31 March 2015, the second-
largest road network in the world only behind United States.
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At 1.66 km of roads per square kilometre of land (2.68 miles per square mile), the quantitative
density of India’s road network is higher than that of Japan (0.91) and United States (0.67), and far
higher than that of China (0.46), Brazil (0.18) or Russia (0.08).

Qualitatively, India’s roads are a mix of modern highways and narrow, unpaved roads, and are being
improved.

The Indian railway network is the fourth-largest rail network in the world, with a track length of
114,500 kilometres (71,100 mi) and 7,172 stations.

This government-owned-and-operated railway network carried an average of 2.3 crore (23 million)
passengers a day, and over 100 crore (1 billion) tonnes of freight in 2013.

India has a coastline of 7,500 kilometres (4,700 mi) with 13 major ports and 60 operational non-
major ports, which together handle 95% of the country’s external trade by volume and 70% by value
(most of the remainder handled by air).

The airport infrastructure of India includes 125 airports, of which 66 airports are licensed to both
passengers and cargo.

6. Petroleum products and chemicals: Petroleum products and chemicals are a major contributor to
India’s industrial GDP, and together they contribute over 34% of its export earnings.

India hosts many oil refinery and petrochemical operations, including the world’s largest refinery
complex in Jamnagar that processes 12.4 lakh (1.24 million) barrels of crude per day.

By volume, the Indian chemical industry was the third-largest producer in Asia, and contributed 5%
of the country’s GDP.

7. Pharmaceuticals: The Indian pharmaceutical industry has grown in recent years to become a major
manufacturer of health care products for the world. India holds a 20% market share in the global
supply of generics by volume.

The Indian pharmaceutical sector also supplies over 62% of the global demand for various vaccines.

India’s pharmaceutical exports stood at $17.27 billion in 2017-18 and are expected to reach $20
billion by 2020.

The industry grew from $6 billion in 2005 to $36.7 billion in 2016, a compound annual growth rate
(CAGR) of 17.46%.

It is expected to grow at a India is expected to 2020.

The state of Gujarat has become a hub for the manufacture and export of pharmaceuticals and active
pharmaceutical ingredients (APIs).

8. Textile: The textile and apparel market in India was estimated to be $108.5 billion in 2015. It is
expected to reach a size of $226 billion by 2023.

The industry employees over 3.5 crore (35 million) people.

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By value, the textile industry accounts for 7% of India’s industrial, 2% of GDP and 15% of
the country’s export earnings. India exported $39.2 billion worth of textiles in the 2017-18
fiscal year.

India’s textile industry has transformed in recent years from a declining sector to a rapidly
developing one.

After freeing the industry in 2004-2005 from a number of limitations, primarily financial, the
government permitted massive investment inflows, both domestic and foreign.

9. Pulp and paper: The pulp and paper industry in India is one of the major producers of paper in the
world and has adopted new manufacturing technology. The paper market India was estimated to be
worth 600 billion (US$7.5 billion) in 2017-18 recording a CAGR of 6-7%.

10. Mining: Indian coal production is the 3rd highest in the world according to the 2008 Indian.

In recent years, the mining sector in India has shown a positive trend of growth. According to the
Ministry of Mines, the value of mineral production in India increased from INR 1, 70,407 crores in
2014-15 to INR 2, 45,406 crores in 2018-19, which is an increase of around 43.6%. The production
of coal, which is the largest mineral resource in the country, has also shown a significant increase
during this period, growing from 565.55 million tonnes in 2014-15 to 729.10 million tonnes in 2018-

Additionally, the government of India has implemented various initiatives to boost the growth of the
mining sector in the country. These include the National Mineral Policy, the National Mining Policy,
and the National Steel Policy, which aim to provide a more conducive environment for the growth
and development of the industry.

11. Iron & Steel : In terms of production, the iron and steel industry in India has grown rapidly in
recent years. According to the Ministry of Steel, the crude steel production in India increased from
96.5 million tonnes in 2014-15 to 131.3 million tonnes in 2018-19, which is an increase of around
36.6%. The government of India has implemented various initiatives to boost the growth of the iron
and steel industry in the country, including the National Steel Policy and the Steel Sector Skill
Council, which aim to provide a more conducive environment for the growth and development of the
industry.

12. Construction: In terms of employment, the construction sector is a significant source of

employment in India, providing jobs to a large number of people across the country, particularly in
rural areas. The sector also contributes to the development of the country's small and medium
enterprises (SMEs) through its supply chain.

In terms of foreign investment, the construction sector in India has attracted a significant amount of
foreign investment in recent years, driven by the government's focus on infrastructure development
and the growth of the real estate market. The government of India has implemented various policies
and initiatives to encourage foreign investment in the sector, including the Make in India program,
which aims to make India a global manufacturing hub.

Service Sector

● In terms of percentage contribution to GDP, the service sector in India has consistently been the
largest contributor to the country's economy, accounting for over 55% of the GDP in recent years.

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The sector has grown rapidly, driven by the increasing demand for services in areas such as finance,
healthcare, technology, and hospitality.
● In terms of employment, the service sector is a significant source of employment in India, providing
jobs to a large number of people across the country. The sector also contributes to the development
of the country's small and medium enterprises (SMEs) through its supply chain.
● In terms of foreign investment, the service sector in India has attracted a significant amount of
foreign investment in recent years, driven by the growth of the sector and the increasing demand for
services in areas such as finance, healthcare, technology, and hospitality. The government of India
has implemented various policies and initiatives to encourage foreign investment in the sector,
including the Make in India program, which aims to make India a global hub for the service industry.

Explain interrelationship of different sectors of Indian economy

The different sectors of the Indian economy are interdependent and their growth and development are
closely linked. For example:

1. Agriculture: The agriculture sector provides raw materials to the industry sector, which in turn
provides inputs and technology to improve agricultural productivity. The growth of the services
sector, driven by the growing middle class, also drives demand for agricultural products.
2. Industry: The industrial sector provides employment and contributes to the GDP, and its growth is
dependent on factors such as access to finance, infrastructure, and raw materials from the agriculture
sector. The growth of the industry sector also drives demand for services, such as transportation and
logistics.
3. Services: The services sector provides employment and contributes to the GDP, and its growth is
dependent on factors such as the growth of the middle class, the availability of skilled labour, and the
development of infrastructure. The growth of the services sector also drives demand for goods from
the industry sector and for raw materials from the agriculture sector.

Overall, the interrelationship between the different sectors of the Indian economy is complex, with growth in
one sector driving growth in others. The government plays a significant role in shaping this interrelationship
through policies, regulations, and investments in areas such as infrastructure and education. Improving the
interrelationships between the sectors can help drive sustained, inclusive economic growth in India.

The interdependence of the sectors in the Indian economy is determined by various factors

1. The sectors of the Indian economy are interdependent and interact with each other in various ways.
The interdependence of these sectors is a result of various factors, including:
2. Linkages between the sectors: Each sector provides inputs, goods, and services to other sectors,
creating linkages between them. For example, the agriculture sector provides raw materials for the
manufacturing sector, while the services sector provides various inputs for the agriculture and
manufacturing sectors.
3. Demand and Supply: The interdependence between the sectors is also determined by demand and
supply. The demand for goods and services in one sector affects the production and supply in other
sectors. For example, an increase in demand for consumer goods leads to an increase in demand for
raw materials from the agriculture and manufacturing sectors.
4. Resource allocation: The interdependence of the sectors is also determined by the allocation of
resources, such as labor and capital. The allocation of these resources is influenced by the demand
for goods and services in each sector and the relative profitability of different sectors.

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5. Infrastructure: The development of infrastructure, such as transportation and communication
networks, is an important factor that affects the interdependence of the sectors. A well-developed
infrastructure can improve the flow of goods and services between the sectors and increase the
efficiency of the overall economy.

In conclusion, the interdependence of the sectors in the Indian economy is determined by various factors,
including linkages between the sectors, demand and supply, resource allocation, and infrastructure.
Understanding the interrelationships between the sectors is crucial for effective economic planning and
policy-making.

Elaborate the percentage development in Different sectors of Indian Industry

The percentage development of different sectors of the Indian industry has varied over the years. Here are
some general trends:

● Agriculture: Despite being the largest employment sector, the share of agriculture in India's GDP has
declined over the years, from around 50% in the 1950s to around 15% in recent years.
● Manufacturing: The share of the manufacturing sector in India's GDP has increased over the years,
from around 15% in the 1950s to around 18% in recent years.
● Services: The share of the services sector in India's GDP has increased significantly, from around
33% in the 1950s to around 67% in recent years. This sector includes industries such as finance,
tourism, and IT.
● Mining: The share of the mining sector in India's GDP has remained relatively stable over the years,
at around 3%.
● Construction: The share of the construction sector in India's GDP has increased over the years, from
around 2% in the 1950s to around 8% in recent years.

It is worth noting that these figures are general trends and the actual percentage development of each sector
can vary depending on various factors such as economic policies, global trends, and natural calamities.

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