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Q41 (CDS-II/2026) Economy › Basic Concepts & National Income

Consider the following statements :
1. Services sector contributes more than 50% to India's GVA
2. Services sector growth is more volatile than agriculture sector
3. FDI in services sector contributes to three-fourth of total FDI in the post-Covid period
Which of the statements given above are correct ?

Result
Your answer: —  ·  Correct: A

Explanation

Statement 1 is correct: The services sector is the largest contributor to India's Gross Value Added (GVA). According to the Economic Survey 2023-24, the services sector accounts for approximately 54.6% of the total GVA.

Statement 2 is correct: Historically, agriculture was considered more volatile due to monsoon dependency. However, in the recent post-Covid period, the services sector exhibited higher volatility. For instance, services growth plummeted to -7.8% in FY21 and rebounded to 8.4% in FY22 and 9.1% in FY23. In contrast, the agriculture sector remained resilient and stable, growing steadily at around 3-4% during the same period.

Statement 3 is incorrect: While the services sector (including computer software, hardware, and financial services) is the largest recipient of Foreign Direct Investment (FDI), it typically accounts for about 50% to 60% of total FDI equity inflows, not three-fourths (75%).

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