2. SECTORS OF THE INDIAN ECONOMY

2. SECTORS OF THE INDIAN ECONOMY

  • 2

    Sectors Of The Indian Economy

    This chapter discusses the classification of the Indian economy into primary, secondary, and tertiary sectors, addressing their roles, interdependencies, and the challenges faced.

  • 2.1

    Sector Of Economic Activities

    This section illustrates various economic activities classified into primary, secondary, and tertiary sectors and highlights their interdependence.

  • 2.2

    Comparing The Three Sectors

    This section compares the primary, secondary, and tertiary sectors of the Indian economy, highlighting how they interrelate and change over time.

  • 2.3

    Primary, Secondary And Tertiary Sectors In India

    This section examines the production trends across the primary, secondary, and tertiary sectors in India from 1973-74 to 2013-14, highlighting significant growth and changes in GDP.

  • 2.3.1

    Rising Importance Of The Tertiary Sector In Production

    The tertiary sector in India has become increasingly significant in production and employment, surpassing traditional sectors like agriculture and industry.

  • 2.3.2

    Where Are Most Of The People Employed?

    The section discusses the employment distribution across different sectors in India, emphasizing the persistent dominance of the primary sector despite economic changes.

  • 2.3.3

    How To Create More Employment?

    This section discusses strategies to enhance employment opportunities in the Indian economy, particularly focusing on agricultural and rural sectors.

  • 2.4

    Division Of Sectors As Organised And Unorganised

    This section discusses the division of economic sectors into organised and unorganised categories, focusing on their characteristics and the differences between them.

  • 2.4.1

    How To Protect Workers In The Unorganised Sector?

    The section discusses the vulnerability of workers in the unorganised sector and outlines the need for protection and support from both economic and social perspectives.

  • 2.5

    Sectors In Terms Of Ownership: Public And Private Sectors

    This section discusses the classification of economic sectors into public and private, focusing on ownership and service delivery.

    • Key Summary

    The chapter covers the sectors of the Indian economy by classifying them into primary, secondary, and tertiary activities. It discusses the roles and interdependencies of these sectors, highlights issues such as underemployment and the conditions of work in organized and unorganized sectors, and examines the impact of these sectors on Gross Domestic Product (GDP). Additionally, the chapter emphasizes the need for better employment opportunities and the protection of unorganized sector workers to promote economic development.

    Key Takeaways

    • The economy is classified into three main sectors: primary, secondary, and tertiary.
    • There is significant underemployment in agriculture, while the service sector is becoming increasingly important in terms of production and GDP.
    • Differentiating between organized and unorganized sectors is crucial for understanding worker conditions and necessary protections.

    Key Concepts

    • Primary Sector: The sector that involves the extraction and production of natural resources, such as agriculture, forestry, and mining.
    • Secondary Sector: The sector that involves the manufacturing and processing of goods, turning raw materials into finished products.
    • Tertiary Sector: The sector which provides services to the economy and supports the primary and secondary sectors, such as transportation, education, and healthcare.
    • Underemployment: A situation where individuals are working less than their potential or are unable to fully utilize their skills.
    • Unorganized Sector: A sector that lacks formal rules and regulations, characterized by low wages, lack of job security, and limited worker rights.
    • Gross Domestic Product (GDP): The total monetary value of all final goods and services produced within a country's borders in a specified period.
    • MGNREGA 2005: Mahatma Gandhi National Rural Employment Guarantee Act, which provides a legal guarantee for at least 100 days of unskilled wage employment in a financial year to every rural household.