Gross Domestic Product | Economics - Contribution of different sectors in GDP of India | 10th Social Science : Economics : Chapter 1 : Gross Domestic Product and its Growth: an Introduction
Chapter: 10th Social Science : Economics : Chapter 1 : Gross Domestic Product and its Growth: an Introduction
Contribution of different sectors in GDP of India
Contribution of different sectors in GDP of India
Services sector is the largest sector of India. Gross Value Added (GVA) at current prices for Services sector is estimated at 92.26 lakh crore in 2018-19.
India is
2nd largest producer of agricultural products. India accounts for 7.39 percent
of total global agricultural output.
In
Industrial sector, India's world rank is 6 and in Service sector, India's world
rank is 8. Contribution of Agriculture sector in Indian economy is much higher
than world's average (6.4%). Contribution of Industry and Services sector is
lower than world's average 30% for Industry sector and 63% for Services sector.
Gross value added (GVA) is the
measure of the value of goods and services produced in an area, industry or
sector of an economy.
GVA = GDP + subsidies - (direct,
sales) taxes.
Related Topics