IMPACT OF SERVICE SECTOR IN INDIAN ECONOMY: A STUDY

Abstract

The economic development is essential for every nation. The per capita income of the country resembles the economic strength of the nation. Out of the three sectors, the service sector plays a prominent role for the economy development. In India, In Agricultural sector the dependents are more whereas GDP from Agricultural sector is less, That is why there is a transformation of human resource from Agricultural sector to Service sector. The trend of the service sector is in ever-increasing stage. This paper explains about what is the importance of service sector in Indian economy. In which areas the service sector is showing high growth rate, and less growth rate, and also this paper concentrates, people dependent in service sector and in Agricultural sector and in the industrial sector. The comparative analysis between developed economies like US, UK, JAPAN and AUSTRALIA and developing economies like INDIA and CHINA and others. This paper explains about the trend of economy development from 1951-2018.