Give the reasons behind the growth of service sector in india
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The major factors responsible for high growth of the service sector are as under :
(i) Development of means of transport and communication due to globalisation.
(ii) Development of banking and insurance sector
due to the policy of privatisation.
(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.
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