Sectors OF INDIAN ECONOMY??????????????

Question

I WANT A BRIEF AND GOOD INFORMATION ON THE TOPIC "SECTORS OF INDIAN ECONOMY"!!!!!!!!!

PLS.. TELL ME ABOUT IT?????????

Answer 1

Sectors

Agriculture

Main article: Agriculture in India



Composition of India's total production (million tonnes) of foodgrains and commercial crops, in 2003–04.India ranks second worldwide in farm output. Agriculture and allied sectors like forestry, logging and fishing accounted for 18.6% of the GDP in 2005, employed 60% of the total workforce[4] and despite a steady decline of its share in the GDP, is still the largest economic sector and plays a significant role in the overall socio-economic development of India. Yields per unit area of all crops have 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 Green revolution in India. However, international comparisons reveal that the average yield in India is generally 30% to 50% of the highest average yield in the world.[50]

The low productivity in India is a result of the following factors:

Illiteracy, general socio-economic backwardness, slow progress in implementing land reforms and inadequate or inefficient finance and marketing services for farm produce.

The average size of land holdings is very small (less than 20,000 m²) and is subject to fragmentation, due to land ceiling acts and in some cases, family disputes. Such small holdings are often over-manned, resulting in disguised unemployment and low productivity of labour.

Adoption of modern agricultural practices and use of technology is inadequate, hampered by ignorance of such practices, high costs and impracticality in the case of small land holdings.

Irrigation facilities are inadequate, as revealed by the fact that only 53.6% of the land was irrigated in 2000–01,[51] which result in farmers still being dependent on rainfall, specifically the Monsoon season. A good monsoon results in a robust growth for the economy as a whole, while a poor monsoon leads to a sluggish growth.[52] Farm credit is regulated by NABARD, which is the statutory apex agent for rural development in the subcontinent.

Industry



Per capita GDP (at PPP) of South Asian economies versus those of South Korea, as a percentage of the US[20][53]India is fourteenth in the world in factory output. They together account for 27.6% of the GDP and employ 17% of the total workforce.[4] However, about one-third of the industrial labour force is engaged in simple household manufacturing only. [5]

Economic reforms brought foreign competition, led to privatisation of certain public sector industries, opened up sectors hitherto reserved for the public sector and led to an expansion in the production of fast-moving consumer goods.[54]

Post-liberalisation, the Indian private sector, which was usually run by oligopolies of old family firms and required political connections to prosper was faced with foreign competition, including the threat of cheaper Chinese imports. It has since handled the change by squeezing costs, revamping management, focusing on designing new products and relying on low labour costs and technology.[55]

34 Indian companies have been listed in the Forbes Global 2000 ranking for 2008.[56] The 10 leading companies are:

World Rank   Company   Logo Industry   Revenue

(billion $)   Profits

(billion $)   Assets

(billion $)   Market Value

(billion $)  

193 Reliance Industries  Oil & Gas Operations 26.07 2.79 30.67 89.29

198 Oil and Natural Gas Corporation  Oil & Gas Operations 18.90 4.11 33.79 54.11

219 State Bank of India  Banking 15.77 1.47 188.56 33.29

303 Indian Oil Corporation  Oil & Gas Operations 42.68 1.82 25.39 16.36

374 ICICI Bank  Banking 9.84 0.64 91.07 29.85

411 NTPC  Utilities 7.84 1.60 20.34 41.57

647 Steel Authority of India Limited  Materials 7.88 1.45 8.05 26.37

738 Tata Steel  Materials 5.83 0.97 11.48 14.63

826 Bharti Airtel  Telecommunications Services 4.26 0.94 6.61 39.16

846 Reliance Communications  Telecommunications Services 3.13 0.65 13.08 29.63

Services



Infosys headquarters in Bangalore, one of the largest software companies in India.India is fifteenth in services output. It provides employment to 23% of work force, and it is growing fast, growth rate 7.5% in 1991–2000 up from 4.5% in 1951–80. It has the largest share in the GDP, accounting for 55% in 2007 up from 15% in 1950.Business services (information technology, information technology enabled services, business process outsourcing) are among the fastest growing sectors contributing to one third of the total output of services in 2000. The growth in the IT sector is attributed to increased specialisation, availability of a large pool of low cost, but highly skilled, educated and fluent English-speaking workers. On the supply side and on the demand side, increased demand from foreign consumers interested in India's service exports or those looking to outsource their operations. India's IT industry, despite contributing significantly to its balance of payments, accounted for only about 1% of the total GDP or 1/50th of the total services.

Banking and finance

Main article: Banking in India



Structure of the organised banking sector in India. Number of banks are in brackets. The Indian money market is classified into: the organised sector (comprising private, public and foreign owned commercial banks and cooperative banks, together known as scheduled banks); and the unorganised sector (comprising individual or family owned indigenous bankers or money lenders and non-banking financial companies (NBFCs)). The unorganised sector and microcredit are still preferred over traditional banks in rural and sub-urban areas, especially for non-productive purposes, like ceremonies and short duration loans.

Prime Minister Indira Gandhi nationalised 14 banks in 1969, followed by six others in 1980, and made it mandatory for banks to provide 40% of their net credit to priority sectors like agriculture, small-scale industry, retail trade, small businesses, etc. to ensure that the banks fulfill their social and developmental goals. Since then, the number of bank branches has increased from 10,120 in 1969 to 98,910 in 2003 and the population covered by a branch decreased from 63,800 to 15,000 during the same period. The total deposits increased 32.6 times between 1971 to 1991 compared to 7 times between 1951 to 1971. Despite an increase of rural branches, from 1,860 or 22% of the total number of branches in 1969 to 32,270 or 48%, only 32,270 out of 5 lakh (500,000) villages are covered by a scheduled bank.

Since liberalisation, the government has approved significant banking reforms. While some of these relate to nationalised banks (like encouraging mergers, reducing government interference and increasing profitability and competitiveness), other reforms have opened up the banking and insurance sectors to private and foreign players.

Answer 2

there are many

for example

public - private sectors

agricultural - industrial sectors

finance, defence, communication, IT etc

each group of industry or part of the country is called sector

Answer 3

on the basis of nature of activity

primary,secondary and tertiary

on the basis of nature of work

organised and unorganised

on the basis of ownership

private and public