What are the major constituents of Tertiary Sector and what has led to its huge share in India’s Gross Domestic Product ?
Answers
Answer:
Explanation:
The Tertiary sector has emerged as the largest producing sector in the Indian economy in the last decade because,
(i) Demand for Tertiary sector activities like transport, storage and trade has increased substantially with the development of the Primary and Secondary sectors.
(ii) Increasing requirement of software exports from abroad that creates a boom in call centres.
(iii) With increase in the income levels of the people, demand for tourism, shopping, education and other services has increased.
(iv) Liberalisation of the financial environment has boosted faster growth in financial services.
(v) Basic services of education, healthcare and communications require a large number of people to be engaged in these Tertiary sector activities.
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Tertiary sector in India has been growing rapidly for a number of reasons :
(i) In a developing country, the government has to take the responsibility for the provision of basic services for example, hospitals, educational institutions, post and telegraph services, police stations, courts, village administrative offices, municipal corporations, defence, transport, banks, insurance companies etc.
(ii) The development of agriculture and industry leads to the development of services such as trade, transport, storage etc. Greater the development of the primary and secondary sectors, more would be the demand for such services.
(iii) As income levels rise, certain sections of people start demanding many more services, such as eating out, tourism, shopping, private hospitals; private schools, professional training etc. This change was quite sharp in cities, especially in big cities.
(iv) Over the past decade or so, certain new services, such as those based on information and communication technology have become important and essential.
(v) Government policy of privatisation has also led to growth of this sector.
(vi) A large number of workers are engaged in services, such as small shopkeepers, repair persons, transport persons etc.
(vii) However, the entire sector has not grown. Large numbers of people engaged as construction workers, maid, peons, small shopkeepers etc. do not find any change in their life.
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Answer:
Explanation:
Tertiary sector in India has been growing rapidly for a number of reasons :(i) In a developing country, the government has to take the responsibility for the provision of basic services for example, hospitals, educational institutions, post and telegraph services, police stations, courts, village administrative offices, municipal corporations, defence, transport, banks, insurance companies etc.(ii) The development of agriculture and industry leads to the development of services such as trade, transport, storage etc. Greater the development of the primary and secondary sectors, more would be the demand for such services.(iii) As income levels rise, certain sections of people start demanding many more services, such as eating out, tourism, shopping, private hospitals; private schools, professional training etc