Answer:
The
major consequences for India will be import of food grains (as was being done
many years ago) to feed our growing population, which may involve out-go of foreign
exchange and so, is not good for the country.
Another consequence will be unemployment, as the reduction in
agricultural land will lead to people working earlier as agriculturists needing
to find alternative employment.
In addition, agro-based industry will suffer due to shortage
of raw materials. Overall it is having a negative effect on the economy.
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