The growrh of service sector is sustainable and can make India as a rich country. Do you agree with this statement ? Elaborate.
Answers
Answer:
Beg to disagree in Indian context. Services is one the most essential sectors together with manufacturing, energy and agriculture.In a large country like India, all 4 sectors must coexist to expand economy in all directions without much dependence on imports . Our economy immediately comes under stress when crude oil price hits $ 70 per barrel since most of it is imported . The impact of energy sector alone on Indian economy is quite large and this situation will continue till a cost effective alternative to crude is developed or we learn to consume less crude oil ( quite unlikely) When economy is stressed due to such events, normally the importance and contribution of services sector increases.
However at present Energy sector influences Indian economy much more than others since all parts of economy are interlinked . High crude prices pushes up unit cost in manufacturing and adversely impacts cost of services also. The contribution of services sector will increase many fold to the economy if India can develop gasohol( blend of molasses based alcohol with petrol/diesel) and corresponding conversion technology for automobiles and develop rapidly non conventional energy ( solar, wind, fuel cells etc). Brazil which has the world’s largest sugarcane crop ( followed by India) has developed 90% blend of alcohol with crude based fuel for its entire transport needs but India is far behind. It should be noted that gasohol technology first came up in 80s and India has been making feeble and reluctant efforts to assimilate this technology while Brazil fully exploited its potential. Gasohol in addition to cost savings and crude imports reduction also contributes substantially to environment due to much reduced NOX emissions .There is no credible explanation for this failure other than pleasing liquor and sugar lobbies in India. This is a case of vested interests/ lobbies holding the country to ransom and political parties yielding to such lobbies..
HOPE IT HELPS YOU!!
PLZ MARK AS BRAINLIEST!!
^.^
Explanation:
I think it is helpful to you
