Essay on Indian Economic
Answers
Answer:
giving bro......To know and understand the nature of Indian economy, it is very necessary to have a clear idea about the meaning of Indian economy.
After Independence India launched her First Five Years plan in 1950-51; then now 5-Year Plan is going on.
Although India is an agro-based economy, but lot of emphasis has been given on the development of industries (both consumer goods and capital goods), service sector (including construction, trade, commerce, banking system etc.) and socio-economic infrastructure (like education, health, housing power, energy, transport, communication etc.).
Both central and state governments in India join their hands in all the spheres leading to economic development.
On the basis of production:
Indian economy can broadly be divided into three heads:
(i) Primary or Agricultural Sector:
This sector consists of agriculture and its allied activities including dairy, poultry, cattle rearing, fishing, forestry, animal husbandry etc. In the primary sector, most of the goods are produced by using natural resources, since India is a overpopulated agro based economy, therefore, this sector plays an important role for economic growth.
(ii) Secondary or Manufacturing Sector:
This sector is also known as industrial sector. In this category, all types of manufacturing sector like large scale, small scale and tiny scale are included. Small and tiny scale industries include clothes, candle, poultry, match box, handloom, toys etc. These units provide huge employment. On the other hand, large scale industries like iron and steel, heavy engineering, chemicals, fertilizers, shipbuilding etc. contribute a huge amount in our gross domestic production.
(iii) Service or Tertiary Sector: