Explanation: The tertiary sector contributes the most to India’s economy. There are many areas in this sector like the service sector, real estate, hotels and restaurants, telecommunications etc.
How much does the primary sector contribute to India’s GDP Mcq?
5. How much does the primary sector contribute to India’s GDP? Explanation: The contribution of primary sector in India’s GDP is 19.83%.
Which sector is growing very fast in India?
The services sector has been the highest growing sector in six years. The Industry sector was the fastest growing sector in one year and the Agriculture sector was the fastest-growing sector in two years.
Sector-wise GDP Growth of India.
|GVA (Rupees in Crore) at constant prices||2017-18||5.22|
What is future of the service sector in the Indian economy?
India’s digital economy is estimated to reach US$ 1 trillion by 2025. By end of 2023, India’s IT and business services sector is expected to reach US$ 14.3 billion with 8% growth. The implementation of the Goods and Services Tax (GST) has created a common national market and reduced the overall tax burden on goods.
Which sector is growing rapidly?
India is rapidly scaling up its infrastructure in order to sustain its growth. India’s manufacturing sector is also developing fast, with world-class companies such as Bharat Forge, Tata Motors, and Mahindra.
Which sector is the largest employer?
The primary sector continues to be the largest employer even now. 3. More than half of the workers in the country are working in the primary sector, mainly in agriculture, producing only a quarter of the GDP.
Which sector contributes more than 70% of world GDP?
As per commerce ministry data, service sector contributes 60% to India’s GDP and 70% to Karnataka’s GDP.
Which sector has the largest contribution in the GDP Mcq?
Explanation: The tertiary sector contributes the most to India’s economy.
What type of economy is an Indian economy?
Today, India is considered a mixed economy: the private and public-sectors co-exist and the country leverages international trade.