Question

The services sector is not a homogeneous category. It includes trade, transport, communications, finance, insurance and real estate, business, community and social services etc.During the period of economic planning, the share of service sector in the GDP has increased.

 

By considering that there are significant changes in sectoral distribution of domestic product in Indian economy, prove the importance of increased contribution of services in GDP.                                                                           ​

Answer 1

Answer:

It includes trade, transport, communications, finance, insurance and real estate, business, community and social services etc.During the period of economic planning, the share of service sector in the GDP has increased.

By considering that there are significant changes in sectoral distribution of domestic product in Indian economy