Explain giving reasons which sector contributes highest GDP % in present scenario and why?
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Tertiary sector is becoming very important in an Indian economy. The reasons are as follows:
(i) Basic services like education, healthcare, banking, postal service, police stations and courts are required in a developing country like India, which are mostly taken care of by the government.
(ii) Development of agriculture and industry has led to the requirement of services like transport, trade, storage etc.
(iii) When income levels rise, people start demanding more services like eating out, tourism, shopping, private hospitals, private schools, professional training etc.
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