The services sector is the key driver of Indias economic growth. The sector has contributed more than.....per cent of Indias Gross Value Added at current price in Q1 2018-19.

BANKING GENERAL KNOWLEDGE

Please wait while the activity loads.
If this activity does not load, try refreshing your browser. Also, this page requires javascript. Please visit using a browser with javascript enabled.

If loading fails, click here to try again

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

The services sector is the key driver of India’s economic growth. The sector has contributed more than____per cent of India’s Gross Value Added at current price in Q1 2018-19.

A	50 per cent
B	60 per cent
C	40 per cent
D	80 per cent

Explanation:

Detailed explanation-1: -The services sector of India remains the engine of growth for India’s economy and contributed 53% to India’s Gross Value Added at current prices in FY21-22 (as per advance estimates).

Detailed explanation-2: -The services sector accounts for 54 per cent of India’s Gross Value Added (GVA). Its growth rate moderated to 7.5 per cent in 2018-19 from 8.1 per cent in 2017-18.

Detailed explanation-3: -The major factors responsible for the high growth of the service sector include high-income elasticity of demand, structural and technological changes in the Indian economy, the revolution of information technology, and growth in demand for manufacturing industries after the economic start.

Detailed explanation-4: -Graph 3 shows the share of employment in the three sectors in 1977-78 and 2017-18. The primary sector continues to be the largest employer even now.

Detailed explanation-5: -Services Sector contributed over 50% to India’s GDP, highlighted the Economic Survey 2021-22 which was tabled by the Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman in Parliament today.

There is 1 question to complete.