The sectoral shares of Gross Value Added (GVA) for the year 2009-10 to 2018-19 show that the share of service sector in GVA in India has increased over the years. Which among the following have driven the maximum increase?

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Q: 59 (CAPF/2021)
The sectoral shares of Gross Value Added (GVA) for the year 2009-10 to 2018-19 show that the share of service sector in GVA in India has increased over the years. Which among the following have driven the maximum increase?

question_subject: 

Economics

question_exam: 

CAPF

stats: 

0,15,34,12,18,4,15

The correct answer is option 4 - Financial, real estate, and professional services.

1. Electricity, gas, water supply, and other utility services: While these sectors are important for the functioning of the economy, they do not contribute significantly to the increase in the share of the service sector in GVA.

2. Trade, hotel, transport, communication, and services related to broadcasting: This sector also plays a crucial role in the economy, but its contribution to the increase in the share of the service sector in GVA is not as significant as option 4.

3. Public administration, defence, and other services: While this sector has its own importance, it has not driven the maximum increase in the share of the service sector in GVA.

4. Financial, real estate, and professional services: This sector has seen substantial growth over the years, contributing significantly to the increase in the share of the service sector in GVA. The expansion of financial institutions, the booming real estate market, and the growth of professional services such as consulting, legal, and accounting have all contributed to this increase.

Therefore, option 4 is the correct answer as it best reflects the sector that has driven the maximum increase in the share of the service sector in G