Question

what are the contributions of primary, secondary, tertiary sectors towards growth of india? plz ans in detail.

Answer 1

Understanding the economy of a country is critical for the economic planners and the government of that country to plan and govern the economy better and take it towards a consistently higher path of growth. A consistent higher economic growth is essential for any country as it helps its citizens have a better living standard and also create enough surpluses to take on adversities like natural calamities and to defend it from threats from other countries and disgruntled elements.

Therefore, to understand an economy better scholars like Colin Clark and Jean Fourastié have developed the three - sector hypothesis, dividing the economy in to three sectors of activity, viz.,

1. The primary sector, where economic activity is centred from extraction of raw materials from mother earth, be it agriculture, forestry, fishing, mining or quarrying.

2. The secondary sector, where the economic activity is centred around manufacturing, i.e. production of goods and construction, and

3. The tertiary sector, where it is all about services, which includes sub-sectors like Trade; Hotels and Restaurants; Transport; Storage & warehousing; Communication; Banking and Insurance; Real Estate; Business services; Public administration and defence; Social and personal services; and Other services including Education, Medical and Health, Religious and Other Community Services, Legal Services, Recreation and Entertainment Services.