Q.12:- Tertiary sector is not playing any significant role in the development of Indian Economy.” Do you agree? Give reasons in support of your answer.
No, I do not agree with this.
The reasons are as follows—
1. In terms of GDP, this sector emerged as the largest producing sector in India in 2003, surpassing the primary and secondary sectors. In 1973, the share of the tertiary sector in GDP was about 35%, which increased to more than 50% in 2003. Over the thirty years between 1973 and 2003, while production in all three sectors increased, it has increased the most in tertiary sector.
2. In terms of employment also, the rate of growth of employment in tertiary sector between 1973 and 2000 was nearly 250%. This growth was much less in the primary sector.