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Q37 (IAS/2002) Economy › Growth, Development, Poverty & Employment › Sectoral structure GDP

Which reference to the Indian economy, consider the following activities: 1. Agriculture, Forestry and Fishing 2. Manufacturing 3. Trade, Hotels Transport and Communication 4. Financing, Insurance, Real Estate and Business services The decreasing order of the contribution of these sectors to the Gross Domestic Product (GDP) at factor cost at constant prices (2000-01) is

Result
Your answer: —  Â·  Correct: A

Explanation

During the fiscal year 2000-01, the Indian economy was undergoing a significant structural shift where the Services sector began to overtake Agriculture in its contribution to the GDP. Based on the economic data of that period (at current prices/base 2000-01):

  • Trade, Hotels, Transport and Communication (3): Contributed approximately 23.5%, becoming the largest sub-sector.
  • Agriculture, Forestry and Fishing (1): Contributed approximately 23.2%, following closely behind as its share continued to decline from previous decades.
  • Manufacturing (2): Contributed approximately 15.5%, representing the core of the industrial sector.
  • Financing, Insurance, Real Estate and Business services (4): Contributed approximately 13.2%.

The decreasing order of contribution is therefore 3, 1, 2, 4.

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