Services sector accounts for 54.40% of total India's GVA of 169.61 lakh crore Indian rupees. With GVA of Rs. 50.43 lakh crore, Industry sector contributes 29.73%. While Agriculture and allied sector shares 15.87%.
The main sectors of the economy are: Primary sector – extraction of raw materials – mining, fishing and agriculture. Secondary / manufacturing sector – concerned with producing finished goods, e.g. Construction sector, manufacturing and utilities, e.g. electricity.
India is one of the fastest-growing economies in the world and it is predicted that by 2050, it will become the second-largest economy in the world. There are many factors that contribute to the economy.
There are three sectors of the Indian economy: the primary sector, the secondary sector, and the tertiary sector.
1. Primary sector:-
To keep the day-to-day operations going, this sector's services are completely reliant on the availability of natural resources. Eg. Agriculture, Mining, Fishing, Forestry, Dairy etc.
2. Secondary sector:-
The economics of the sector is based on natural materials that are utilised to manufacture the services and goods that are given, and which are then consumed.
This sector transforms primary sector output (raw materials) into finished goods that can be sold to domestic businesses or consumers.
3. Tertiary sector:-
The tertiary sector is referred to as the service sector. The service business creates services rather than finished items. Services (also known as "Intangible Products") include things like attention, direction, access, experience, and emotional labour.
Individuals who provide personal services, such as teachers, physicians, and others.
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Explanation:
Services sector accounts for 54.40% of total India's GVA of 169.61 lakh crore Indian rupees. With GVA of Rs. 50.43 lakh crore, Industry sector contributes 29.73%. While Agriculture and allied sector shares 15.87%.
The main sectors of the economy are: Primary sector – extraction of raw materials – mining, fishing and agriculture. Secondary / manufacturing sector – concerned with producing finished goods, e.g. Construction sector, manufacturing and utilities, e.g. electricity.
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Answer:
India is one of the fastest-growing economies in the world and it is predicted that by 2050, it will become the second-largest economy in the world. There are many factors that contribute to the economy.
There are three sectors of the Indian economy: the primary sector, the secondary sector, and the tertiary sector.
1. Primary sector:-
To keep the day-to-day operations going, this sector's services are completely reliant on the availability of natural resources. Eg. Agriculture, Mining, Fishing, Forestry, Dairy etc.
2. Secondary sector:-
The economics of the sector is based on natural materials that are utilised to manufacture the services and goods that are given, and which are then consumed.
This sector transforms primary sector output (raw materials) into finished goods that can be sold to domestic businesses or consumers.
3. Tertiary sector:-
The tertiary sector is referred to as the service sector. The service business creates services rather than finished items. Services (also known as "Intangible Products") include things like attention, direction, access, experience, and emotional labour.
Individuals who provide personal services, such as teachers, physicians, and others.
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