(i) Comparison in terms of GDP
In 1950-51, GDP at factor cost at constant (1993-94) prices was ? 140466 crores and in 2003-2004 was ? 1424507 crores.
In 2003-04, GDP growth rate was 8.2%
In 2003-04, in Primary sector, growth rate was 8.6%
In 2003-04, in Secondary sector, growth rate was 6.7%
In 2003-04, in Tertiary sector, growth rate was 8.4%
The main driving force behind high growth rate in GDP is the extremely good performance of the tertiary sector in general and the organised service sector (Transport, Communications, Banking, Finance, etc.) in particular.
(ii) Comparison in terms of Employment
In 1951—percentage of working force in India engaged in primary, secondary and tertiary sector was 72.1%, 10.7% and 17.2% respectively.
In 1999-2000, percentage of working force in India engaged in primary, secondary and tertiary sector was 60.4%, 16.8% and 22.7% respectively. On comparing we find a change in the occupational distribution in all the three sectors. People are shifting from primary sector to secondary and tertiary sectors. This is an indication of progressing on the path of development.
Yes, there could be other issues which should be examined like health, education and protection of workers in the unorganised sector, etc.
No, I do not agree with this statement. Tertiary sectorisplayingsignificantroleinthedevelopment ’ of Indian economy.