Economy India faces protracted slowdown as virus clouds rural revival Updated : August 20, 2020 07:30 AM IST Nearly half of India's 1.38 billion population rely on agriculture to survive, with the sector accounting for 15 percent of its economic output. Modi has been citing higher fertiliser demand and sowing of monsoon crops, both key signs of rural activity, to show there are "green shoots" in the economy. Former central bank Governor Raghuram Rajan has called for greater focus on protecting India's economic capabilities for a meaningful revival. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.