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Q17 (NDA-II/2014) Economy › Basic Concepts & National Income › Economic growth indicators Answer Verified

Which one of the following is the correct sequence of economic sectors in terms of their contribution to the GDP of India in decreasing order?

Result
Your answer: —  Â·  Correct: A
Explanation

The Indian economy is categorized into three major sectors: primary (agriculture), secondary (industry), and tertiary (services) [2]. Historically, the share of agriculture in India's GDP was dominant at independence (55%), but structural shifts have occurred over the last seven decades [1]. Currently, the services sector is the largest contributor, accounting for approximately 54% to 55% of the Gross Value Added (GVA) or GDP [3]. The industrial sector follows as the second-largest contributor, with a share ranging between 25% and 31% depending on the fiscal year and measurement criteria [5]. The agriculture sector, while employing nearly half of the workforce, contributes the least to the GDP, with its share declining to approximately 16% to 19% [5]. Therefore, the decreasing order of contribution is Service, followed by Industry, and finally Agriculture [5].

Sources

  1. [2] Indian Economy, Nitin Singhania .(ed 2nd 2021-22) > Chapter 12: Indian Industry > 12.2 Indian Economy > p. 376
  2. [1] Indian Economy, Vivek Singh (7th ed. 2023-24) > Chapter 6: Indian Economy [1947 – 2014] > 6.5 Economy Jumped from Agriculture to Services > p. 220
  3. [3] Indian Economy, Vivek Singh (7th ed. 2023-24) > Chapter 7: Indian Economy after 2014 > 7.2 Manufacturing > p. 228
  4. [5] https://www.indiabudget.gov.in/economicsurvey/doc/eschapter/echap09.pdf
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