Discuss the reasons for highest contribution of GDP by the tertiary sector to the Indian economy.
Answers
Hey Mate, This is your detailed answer!
During early times, people were basically dependent on primary activities like agriculture for their livelihood. But, as the time passed on,
industrialisation and other activities increased,
made a larger scale of job and business opportunities. People began to manufacture products based on the raw materials that are produced by the primary sector. Products manufactured also have to be made available to the common people. This responsibility is on the shoulders of the tertiary sector.
Banks, hospitals, schools, govt offices are all examples of the SERVICES in the tertiary sector.
As many people went to the tertiary sector, this created a lot of national income for the country.
As a result, the contribution of tertiary sector is most in the Indian GDP(economy).