How has the contribution of government in service sector helped the indian economy?
Answers
Hey mate,
Here's your answer,
The service sector/Tertiary Sector consists of the "soft" parts of the economy, i.e. activities where people offer their knowledge and time to improve productivity.
Service sector is having 59.9 % share in the GDP (2013-2014,provisional data, source :Economic survey of India 2014). This sector is very important for development of the country as we do not tax agriculture sector (55 % of the population) we get most our taxes from this sector. the growth of India as the back office of the world has made Indian tertiary sector very Important. The e-commerce market is also rising very well and this will increase the demand and create job, more jobs mean more demand which means more production and consumption, which means all the sectors will be beneficial.
Education as tertiary sector component is helpful in creating a human capital resource which will e very good for the coming generation. in recent time the Gross enrollment ratio has increased. today India has the maximum number of students studying.