Why is the tertiary sector becoming the most important sector in India? Give 5 reasons.
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(i) Demand for services such as transport, trade, storage will increase with the development of primary and secondary sectors. (ii) Demand for tourism, shopping, private schools, private hospitals, etc. increases with the increase in the level of income.
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Explanation:
(i)Basic services like hospitals, education, post and telegraphs, courts, etc.are the best responsibility of the government in developing countries.
(ii)Demand of services such as transport, trade, storage will be increase with the development of primary and secondary sectors.
(iii)Demand of tourism shopping, private schools, private hospitals, etc.increase with the increase level of income.
(iv)Rapid growth of services sector also benefitted from external demand such as software industry and call centre services.
(v)Liberisation of financial sector provided an environment for faster growth of financial services.
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