Question

Explain 3 factors responsible for growth of service sector in India economy .

Answer 1

The major factors responsible for high growth of the service sector are as under :
(i) Development of means of transport and com-munication due to globalization.
(ii) Development of banking and insurance sector
due to the policy of privatization.
(iii) Expenditure on the development of infrastructure.
(iv) Investment in different service sectors due to
indigenous and foreign institutional investment.
(v) Rapid industrialisation.
(vi) Development of agriculture due to Green Revolution.

Answer 2

This is the answer.
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