How far is it correct to say that in recent past, India has experienced some significant changes in the contribution of GDP service sector? Explain

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asked Mar 15, 2018 in Social Science by paayal (26,720 points) 4 6 11

How far is it correct to say that in recent past, India has experienced some significant changes in the contribution of GDP service sector? Explain

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answered Mar 15, 2018 by sanjaydas (61,430 points) 5 7 7
selected Mar 15, 2018 by faiz
 
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(i) Not all service sectors are growing equally well. Service sector in India employs different kinds of people. 

(ii) At one end, there are limited number of services that employ highly skilled and educated workers. At the other end, these are very large number of workers engaged in services such as small shopkeepers, repair persons, transport persons, etc. 

(iii) But in terms of GDP, The service sector emerged as the highest producing sector in India replacing the primary sector. 

(iv) In 1973, share of tertiary sector in GDP was almost 35%, which increased to more than 50% in 2003. 

(v) As income of people rises, they begin to demand many more services like food joints, tourism, shopping malls, etc. 

(vi) Particularly this area, the post decade IT sector or BPOs provided Jobs to many urban educated unemployed youth too.

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