Q Which is the third area of economic development?
1 Service Sector
2 Science field
3 Education Sector
4 Agricultural sector
Answers
Explanation:
The economic development in India followed socialist-inspired politicians for most of its independent history, including state-ownership of many sectors;[1] India's per capita income increased at only around 1% annualised rate in the three decades after its independence.[2] Since the mid-1980s, India has slowly opened up its markets through economic liberalisation. After more fundamental reforms since 1991 and their renewal in the 2000s, India has progressed towards a free market economy.[2]
In the late 2000s, India's growth reached 7.5%, which will double the average income in a decade.[2] IMF says that if India pushed more fundamental market reforms, it could sustain the rate and even reach the government's 2011 target of 10%.[2] States have large responsibilities over their economies. The average annual growth rates (2007–12) for Gujarat (13.86%), Uttarakhand (13.66%), Bihar (10.15%) or Jharkhand (9.85%) were higher than for West Bengal (6.24%), Maharashtra (7.84%), Odisha (7.05%), Punjab (11.78%) or Assam (5.88%).
Answer:
Option (a) Service sector...