Question

main function of the structural chalange in Indian economy during the plan period is-
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Answer 1

Answer:

Gdp is the main function of the structural chalange in Indian economy during the plan period

Answer 2

Answer:

Main function of the structural challenge in Indian economy during the plan period is-substantial increase in share of service sector in GDP.

Explanation:

Economic Survey: India's GDP is dominated by the services sector, which accounts for more than half of the country's GDP. In industrialised countries, the service sector is the largest. Increases in information and data, as well as rapid technical advancements – particularly in communication – have spurred the rapid rise of service-related sectors. India's most important industry is services. The services sector's GVA is expected to be 96.54 lakh crore INR in 2020-21 at current prices. Services make for 53.89 percent of India's total GVA of 179.15 lakh crore rupees.

Reason of structural chalange in Indian economy during the plan period is: Improved labour productivity. A key factor behind tertiarisation is improved labour productivity, Globalisation, Income elasticity of demand, Rising real incomes/ wages, More leisure time, Technology.