To Is the tertiary playing
significant role in the
Indian Economy? explain.
Answers
Answer:
yes, tertiary sector is playing an significant role in the development of Indian economy. The tertiary sector has contributed vastly to the Indian economy, especially in the last two decades. In the last decade, the field of information technology has grown, and consequently, the GDP share of the tertiary sector has grown from around 40% in 1973 to more than 50% in 2003.
Answer:
Tertiary Sector is not playing any significant role in the development of the Indian economy”. ... In last forty years, while production has increased in all the three sectors, it has increased the most in tertiary sector. In 2010-11, it has emerged as the largest production sector in India replacing primary sector.
(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.
The tertiary industry is the segment of the economy that provides services to its consumers, including a wide range of businesses such as financial institutions, schools and restaurants. It is also known as the tertiary sector or service industry/sector.India's services sector covers a wide variety of activities such as trade, hotel and restaurants, transport, storage and communication, financing, insurance, real estate, business services, community, social and personal services, and services associated with construction. The service sector makes an important contribution to GDP in most countries, providing jobs, inputs and public services for the economy. Trade in services can improve economic performance and provide a range of traditional and new export opportunities.