What is the role of service sector in Indian economy?

Service sector has contributed 64% in the GDP which is highest, as compared to agriculture and industry sector. Service sector is also playing a vital role in employment generation; 31% employment is generated by service sector which is significant as compared to agriculture (49%) and industry sector (20%).

What is the role of service sector in economy?

Service sector can play a major role in reducing inequalities in the distribution of income in the economy. Service sector activities can be set up by the poor people with minimum capital investment leading to the economic empowerment of poor people and reduce inequalities in the distribution of income.

What is the importance of service sector in Indian economy class 10?

(i) This sector provides services such as transport, trade, storage etc. which help in the development of the agriculture or the Primary sector and the industries or the Secondary sector. (iii) Increasing income level has created demands for many more services like eating out, tourism, shopping, private hospitals.

How the service sector helps the growth of a country’s economy?

Provides Good Quality Life: By providing better services in the field of education and health, banking and insurance as well as communication and transportation, the service sector has helped in increasing the quality of life in the country and thus helping in raising the country’s human development index (HDI), 7.

What is the role of service sector in the economic development of the erstwhile state of J&K?

i) Service sector is the major contributor to the state economy which is likely to grow by 10.10%. ii) Public administration (19.74% SDP) has emerged as the largest constituent of services sector. activity.

What is the role of service sector in the economic development of the J and K?

With a 56 per cent share,the service sector constitutes most of J&k’s economy…. The tourism sector plays an important role in the state’s economy. The sector has huge potential for employment generations,even for unskilled manpower. Tourism also caters to the allied sectors like handicrafts,handlooms,and transport.

What is the role of service sector in the economic development of the erstwhile state of J&K class 10?

What is kokernag famous for?

Kokernag is a sub-district town and a notified area committee in Breng Valley (The Golden Crown of Kashmir), Anantnag district in the Indian union territory of Jammu and Kashmir. The place is known for the botanical garden , pristine freshwater springs and rainbow trout farm.

What is the role of service sector in the economic development of J and K?

With a 56 per cent share, the service sector constitutes most of J&K’s economy. Other two major sectors constituting the state economy are industry at 27.8 per cent and agriculture at 16 per cent. The tourism sector plays an important role in the state’s economy.

Which lake is known as crown of Kashmir?

Dal Lake
Dal is a lake in Srinagar (Dal Lake is a misnomer as Dal in Kashmiri means lake), the summer capital of Jammu and Kashmir. The urban lake, is integral to tourism and recreation in Kashmir and is named the “Jewel in the crown of Kashmir” or “Srinagar’s Jewel”.

Who built Dal lake?

Ali Mardan Khan built the garden in 1632, and is built in such a way that the spring water is the source of fountains. From the fountains, water flows along the floor of the pavilion and cascades to a lower terrace over a drop of 5 metres (16 ft) along a polished black stone chute.

Service sector also recognized as tertiary or residual sector is indispensable for economic development in any economy including India. It has developed as the main and fastest-growing sector in the global economy in the last three decades. The present study makes an analysis of service sector in Indian economy.

What are the reasons for rapid growth of service sector in India?

Answer: One of the reasons for the rapid growth of the service sector in India is that the service sector provides the basic services for the development and provision of which government takes the responsibility 2. Mention one reason for the need for the public sector in India.

What is the role of industry in the Indian economy?

ROLE OF INDUSTRY IN THE ECONOMIC DEVELOPMENT The industries in india can be classified into : Organised industries Unorganised industries Both type of industries are important for large country with a huge size of population and plays an important role in the economy of the country,

What does the present study make an analysis of service sector?

The present study makes an analysis of service sector in Indian economy. The paper also makes an analysis of Indian services sector through examining its growth and contributions in the economy.