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Q:

Which one of the following statements is correct with respect to the composition of national income in India?

A) The share of manufacturing sector has declined B) The share of services sector has increased sharply.
C) The share of agriculture has remained static. D) The share of services sector has declined.

Answer:   B) The share of services sector has increased sharply.



Explanation:

The growth scenario in India shows that the services sector has become the most dominant in the later part of its growth process. The share of services sector in GDP increased from 28.5 per cent in 1950-51 to 39.6 per cent in 1990-91 and then to 52.6 per cent in 2014-15 while the share of primary sector declined from 56.4 per cent in 1950-51 to 33.4 per cent in 1990-91 and then to only 19.0 per cent in 2014-15.

Subject: General Awareness
Exam Prep: Bank Exams
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