study the chart given below showing the growth of GDP and major sectors in percent any any the trend of the two variables from 1991 to 2015
Answers
Explanation:
services sector
The services sector is the largest sector in India. The services sector accounts for 53.66% of total India's GVA of Rs. 137.51 lakh crore. The industrial sector is at the second spot and contributing around 31% of the Indian GDP
Answer:
The period between 1990 to 2012 had been a significant one. Introduction of
Economic Reforms in India has changed everything in India. Variables shown in
the given graph show that GDP growth rate has taken an upwards tread over the
years whereas the situation of Employment growth rate has seen major
fluctuations while going down in overall trend.
Explanation:
GDP growth rate has increased from a meager 3.4% in 1991 to 7.8% in 2012.
However the employment growth rate has shown declining trends from 1.5% in
1991 to 1.12% in 2012. Between the period 1999-2005 the employment
generation rate was at peak since independence i.e. 2.28% p.a. with the
corresponding GDP growth rate standing at a decent 6.1% p.a.
The gap between the two variables is maximum between the period 2005-10
when the employment growth rate hit the lowest in history of Independent India
i.e. 0.28%. In the same period the GDP growth rate had hit the highest level since
independence to the tune of 8.7% p.a. Indian economy has witnessed the peculiar
phenomena of ‘jobless growth’ over all these years. Learning from the situation
government had put in serious efforts on employment front and brought it to a
level of 1.12% p.a. between the period 2010-12.
In all the period between 1990-2012 has been a real roller coaster ride for the
India economy on the two front of GDP and Employment Growth rate.