2016 · Q106
Which one of the following statements is correct with respect to the composition of national income in India?
General KnowledgeIndian Economy
- AThe share of manufacturing sector has declined.
- BThe share of services sector has increased sharply.
- CThe share of agriculture has remained static.
- DThe share of services sector has declined.
Explanation
Since the 1991 reforms, the services sector's share of India's national income has risen sharply to over half of GDP, while agriculture's share has steadily fallen — the classic structural transformation. Manufacturing's share has been broadly stagnant rather than sharply declining, and services have certainly not declined.