The importance of tertiary sector has grown in recent year for the grown of Indian economy justify?
Answers
ᴛʜᴀɴᴋs ғᴏʀ ᴀsᴋɪɴɢ sᴜᴄʜ ᴀɴ ᴜsᴇғᴜʟ ǫᴜᴇsᴛɪᴏɴ ᴍᴀᴛᴇ...
✈︎ᴡʜᴀᴛ ɪs ᴛᴇʀʀɪᴛᴏʀʏ sᴇᴄᴛᴏʀ?
☞︎︎︎The service sector is the third of the three economic sectors of the three-sector theory.
☞︎︎︎The others are the secondary sector, and the primary sector. The service sector consists of the production of services instead of end products.
☞︎︎︎Services include attention, advice, access, experience, and affective labor.
✈︎ᴡʜᴀᴛ ɪs ɪɴᴅɪᴀɴ ᴇᴄᴏɴᴏᴍʏ?
☞︎︎︎The economy of India is characterised as a developing market economy.
☞︎︎︎It is the world's sixth-largest economy by nominal GDP and the third-largest by purchasing power parity (PPP).
☞︎︎︎Nearly 60% of India's GDP is driven by domestic private consumption and continues to remain the world's sixth-largest consumer market.
✈︎The importance of tertiary sector has grown in recent year for the grown of Indian economy justify?
➪The importance of the Tertiary sector is rising because of the following reasons.
☞︎︎︎This sector provides basic services such as hospitals, educational institutions, post and telegraph services, police stations, courts, municipal corporations, defence, banks, insurance etc. which are basic for the development of the country.
☞︎︎︎This sector provides services such as transport, trade, storage etc. which help in the development of the agriculture or the Primary sector and the industries or the Secondary sector.
☞︎︎︎Increasing income level has created demands for many more services like eating out, tourism, shopping, private hospitals. private schools etc.
☞︎︎︎Over the last decade, or so, certain new services such as those based on information and communication technology have become important and essential.
☞︎︎︎The production of these services has been rising rapidly.
The importance of the Tertiary sector is rising because of the following reasons.
(i) This sector provides basic services such as hospitals, educational institutions, post and telegraph services, police stations, courts, municipal corporations, defence, banks, insurance etc. which are basic for the development of the country.
(i) This sector provides services such as transport, trade, storage etc. which help in the development of the agriculture or the Primary sector and the industries or the Secondary sector.
(iii) Increasing income level has created demands for many more services like eating out, tourism, shopping, private hospitals. private schools etc.
(iv) Over the last decade, or so, certain new services such as those based on information and communication technology have become important and essential.
(v) The production of these services has been rising rapidly.