An Economic Analysis of Sector Wise Contribution to GDP in IndiaJournal: International Journal of Science and Research (IJSR) (Vol.10, No. 3)
Publication Date: 2021-03-05
Authors : V. Suthacini;
Page : 653-655
Keywords : GDP; Economic sector; Development process;
This study analyses the effect of fluctuation of agricultural, industrial and service sector of economy to the growth of GDP of India. Secondary data is collected from the Central statistical office from year 2000-01 to year 2019-20. Multiple Regression Analysis and Pearson’s Correlation Coefficients were used to analyze the data. The study identified that the growth rate of contribution of service sector is on an increase from 2003-04 onwards. The study also reveals slow shifting of economic sector from agriculture to industry and industrial to service which result in negligible growth in GDP even after a long time period. The study also exhibits that GDP has a strong positive relationship with service and agricultural sector and negligible relationship with industrial sector. This study suggests the policy makers to concentrate their attention on key areas of all economic sectors which can contribute more to GDP growth and thereby to achieve economic growth.
Other Latest Articles
Last modified: 2021-06-26 18:42:03