CSEET · Economic and Business Environment · Indian Economy
Which statement about the sectoral composition of the Indian economy is correct?
The tertiary or services sector contributes the largest share of India's GDP, accounting for over half of gross value added. Agriculture's share has declined over time, and industry contributes less than services, so the services sector leads.
- AThe primary sector contributes the largest share of GDP
- BThe secondary sector contributes the largest share of GDP
- CThe tertiary (services) sector contributes the largest share of GDPCorrect
- DAll three sectors contribute equal shares of GDP
Explanation
Over recent decades the services sector has grown faster than agriculture and industry and now accounts for more than half of gross value added. Agriculture's share has declined, though it still employs many people. Hence the primary and secondary options are wrong.
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