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Service Sector to the Contribution of Gdp

In: Business and Management

Submitted By kaviya
Words 5818
Pages 24
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Percent labor employment in India by its economic sectors (2010).[110]

The GDP contribution of various sectors of Indian economy have evolved between 1951 to 2013, as its economy has diversified and developed.
Historically, India has classified and tracked its economy and GDP as three sectors — agriculture, industry and services. Agriculture includes crops, horticulture, milk and animal husbandry, aquaculture, fishing, sericulture, aviculture, forestry and related activities. Industry includes various manufacturing sub-sectors. India's definition of services sector includes its construction, retail, software, IT, communications, hospitality, infrastructure operations, education, health care, banking and insurance, and many other economic activities.[111][112]

Rice fields near Puri, Odisha on East Coast
Main articles: Agriculture in India, Forestry in India, Animal husbandry in India, Fishing in India and Natural resources in India
India ranks second worldwide in farm output. Agriculture and allied sectors like forestry, logging and fishing accounted for 17% of the GDP and employed 49% of the total workforce in 2014.[113] As the Indian economy has diversified and grown, agriculture's contribution to GDP has steadily declined from 1951 to 2011, yet it is still the largest employment source and a significant piece of the overall socio-economic development of India.[114] Crop yield per unit area of all crops has grown since 1950, due to the special emphasis placed on agriculture in the five-year plans and steady improvements in irrigation, technology, application of modern agricultural practices and provision of agricultural credit and subsidies since the Green Revolution in India....

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