SECTORS OF INDIAN ECONOMY
Chapter notes, video classes, MCQ practice tests and quick-revision one-liners for Indian Economy and Indian Financial System — JAIIB.
One-liners from this chapter
Free sample — 8 of 66 rapid-fire Q&A cards.
What are the three broad sectors of the Indian economy?
The three broad sectors are the Primary sector (agriculture, mining, forestry), Secondary sector (manufacturing, industry), and Tertiary sector (services).
What is the share of agriculture in India's total employment approximately?
Agriculture employs nearly 40-45% of India's workforce.
Which sector is also known as the agricultural sector in India?
The Primary sector is also known as the agricultural sector, encompassing activities like farming, fishing, forestry, and mining of natural resources.
Which sector includes mining, manufacturing, and construction activities in India?
The Secondary or Industrial sector includes these activities.
What does the Secondary sector of the Indian economy comprise?
The Secondary sector comprises manufacturing, construction, and industrial activities that convert raw materials from the primary sector into finished goods.
What term describes the movement of workers from primary to secondary and tertiary sectors?
Structural transformation or sectoral shift describes this movement.
Why is the Tertiary sector significant in the modern Indian economy?
The Tertiary sector, comprising services like banking, IT, retail, and education, contributes the largest share to India's GDP and employs a growing portion of the workforce.
What is the Quaternary sector in a modern economy?
Knowledge-based activities like IT, research, and consulting form the quaternary sector.
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