a) Which sector has continued to witness a high level of growth during the reform period? b) During the reform period , the growth of agriculture has declined. Give any three reasons. c) During reform period , the industrial growth has also recorded a slow down. Give any two reasons.
Answers
Answer:
While the service sector continued to witness a high level of growth — higher than the overall GDP growth in 2014– 15, this sector witnessed the high growth rate of 9.8 per cent. The industrial sector witnessed a steep decline during 2012–13, in the subsequent years it began to show a continuous positive growth.
The reason for the decline in agriculture's share in total GDP was sluggish growth in the agricultural sector in comparison to the overall growth of the Indian economy during the post-reform period. ... Though the agricultural sector was not targeted directly, it was affected indirectly by these changes.
The factors responsible for the slow down of industrial growth during the 2000-2001 included lack of domestic demand for intermediate goods, low inventory demand for capital goods, high oil price, existence of excess capacity in some sectors, business cycle, inherent adjustment legs in industrial restructuring