Q.8. Compare the rate of growth of the tertiary sector with other sectors in terms
of GDP and employment.
hot teen 1973 and 2013 while production in all the three??in short answer type question
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In terms of growth rate, tertiary sector in India is ahead of both the primary sector as well as secondary sector. As per the estimates, in 2003 tertiary sector contributed approximately 55% to GDP while the primary sector and secondary sector contributed approximately 25% and 20% respectively.
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Introduction to the Sectors of Indian Economy
India is one of the largest, if not the largest economy in the world. It is predicted to be the second largest economy in the world by 2050. So, what contributes to the Indian economy? To answer this, we need to divide India’s economy into three parts and study the sectors of Indian economy in detail. We will also discuss the problems faced by each sector and solutions to these sectors respectively.
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Indian Economy
They are three sectors in the Indian economy, they are; primary economy, secondary economy, and tertiary economy. In terms of operations, the Indian economy is divided into organized and unorganized. While for ownership, it is divided into the public sector and the private sector. But today, we are only going to talk about the sectors of Indian economy and what consists of these sectors.
Sectors of Indian Economy
Primary Sector
The primary sector in India is the sector which is largely dependant on the availability of natural resources in order to manufacture the goods and also to execute various processes. The services in this sector are entirely dependant on the availability of the natural resources in order to keep the day-to-day operations running.
As we have the clear idea of this sector is, the best example to discuss in this sector is the agriculture sector. The other examples in this sector include fishing and forestry, but agriculture accounts for the largest in this sector.
One of the major problem that this sector faces is the underemployment and the disguised employment. Underemployment accounts for the workers not working to the best of their capabilities while the latter accounts for the workers not working to their true potential.
As a solution to the problems, the state, as well as the national government, can increase the funds for the irrigation facilities and provide loans for buying high-quality seeds and fertilizers.
Secondary Sector
The economy in the sector is dependent on the natural ingredients which are used to create the services and products offered and which at the end are used for consumption. In terms of value added to the products and services, this sector is the best sector. The major examples that fall under this category are transportation and manufacturing.
India is one of the largest, if not the largest economy in the world. It is predicted to be the second largest economy in the world by 2050. So, what contributes to the Indian economy? To answer this, we need to divide India’s economy into three parts and study the sectors of Indian economy in detail. We will also discuss the problems faced by each sector and solutions to these sectors respectively.
Suggested Videos
Play
Play
Play
Slider
Indian Economy
They are three sectors in the Indian economy, they are; primary economy, secondary economy, and tertiary economy. In terms of operations, the Indian economy is divided into organized and unorganized. While for ownership, it is divided into the public sector and the private sector. But today, we are only going to talk about the sectors of Indian economy and what consists of these sectors.
Sectors of Indian Economy
Primary Sector
The primary sector in India is the sector which is largely dependant on the availability of natural resources in order to manufacture the goods and also to execute various processes. The services in this sector are entirely dependant on the availability of the natural resources in order to keep the day-to-day operations running.
As we have the clear idea of this sector is, the best example to discuss in this sector is the agriculture sector. The other examples in this sector include fishing and forestry, but agriculture accounts for the largest in this sector.
One of the major problem that this sector faces is the underemployment and the disguised employment. Underemployment accounts for the workers not working to the best of their capabilities while the latter accounts for the workers not working to their true potential.
As a solution to the problems, the state, as well as the national government, can increase the funds for the irrigation facilities and provide loans for buying high-quality seeds and fertilizers.
Secondary Sector
The economy in the sector is dependent on the natural ingredients which are used to create the services and products offered and which at the end are used for consumption. In terms of value added to the products and services, this sector is the best sector. The major examples that fall under this category are transportation and manufacturing.
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