International Journal of Applied Research
Vol. 1, Issue 1, Part D (2014)
Service sector growth – A growth engine for Indian economy
In the Post globalised world, the economic growth is service oriented growth. Service sector is dominating the economies of all countries. In India after the first generation reforms were initiated in 1991, service sector has become the main sector and it is contributing more than 50% to country’s GDP. The economic survey reveals that the share of services in India’s GDP at factor cost increased from 33.5% in 1950-51 to 55.1% in 2010-11 and to 58% in 2011-12. In contrast to this, Agriculture and allied activities share in India’s GDP is 14.6% in 2009-10, 14.5% in 2010-11 and 13.9% in 2011-12. Similarly the increase in manufacturing sectors share in GDP not satisfactory. The service sector is also providing good job opportunities. Today service sector take a lead in country’s growth process.
How to cite this article:
Chaluvaiah. Service sector growth – A growth engine for Indian economy. Int J Appl Res 2014;1(1):181-184.