Question

Classify the sectors of Indian Economy.​

Answer 1

□Question:-

• Classify the sectors the Indian Economy!!

□Answer:-

☆Classification of Sectors of Indian Economy:

1. On the basis of nature of Job:

• Primary Sector

• Secondary Sector

• Tertiary Sector

2. On the basis of Working Condition:

• Organised

• Unorganised

3. On the basis of Ownership:

• Private Sector

• Public Sector

Answer 2

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.

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.

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 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.