what is the role of service sector in the economic development of the state
Answers
Answer:
Service sector provides finance, marketing, transport, insurance for the development of the agriculture sector. The expansion of service sector activities boost the secondary sector activities as well. The service sector not only provides finance, marketing, transport to the industrial activities, but also crates demand for the goods generated by the sector. Hence the present subject is chosen for the indepth analysis.
Service sector can play a vital role in promoting balance regional development. As service sector activities can be established anywhere in the backward regions. Which would lead to the balanced development in the country.
Developing country like India has aboundent labour fource in relation to capital. So that the service sector can provide employment opportunity with minimum capital investment. Service sector can play a major role in reducing inequalities in the distribution of income in the economy.
Explanation: