CA Foundation P4 · Chapter 10 · Question 11 of 15
In the period since the 1991 economic reforms, which sector has accounted for the largest share of India's GDP?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) Tertiary (services) sector
Explanation
India's growth pattern has been services-led: the tertiary sector (trade, hotels, transport, communication, finance, real estate, IT and other services) has accounted for the largest share of GDP throughout the post-reform period, while the share of the primary (agriculture and allied) sector has declined. Mining and quarrying is only a small part of the primary sector.
More Indian Economy MCQs
- Q13Which of the following was a consequence of British colonial policy for the Indian economy?
- Q14The Goods and Services Tax (GST), a destination-based indirect tax, was introduced in India with effect from:
- Q15The Industrial Policy Resolution of 1956 is significant because it:
- Q1The economic reforms introduced in India in 1991 are popularly summarised as:
- Q2The immediate trigger for the economic reforms of 1991 was: