Tertiary Sector Is so Important in India
IMPORTANCE OF TERTIARY SECTOR
WHAT IS TERTIARY SECTOR?
The tertiary sector of the economy (also known as the service sector or the service industry) is one of the three economic sectors, the others being the secondary sector (approximately the same as manufacturing) and the primary sector (agriculture, fishing, and extraction such as mining). The service sector consists of the "soft" parts of the economy, i.e. activities where people offer their knowledge and time to improve productivity, performance, potential, and sustainability, what is termed affective labor. The basic characteristic of this sector is the production of services instead of end products.
The growth of tertiary sector in any country indicates its economic growth. Tertiary sector is becoming important in India due to the following reasons:-
(i) Direct responsibility of the Govt. The government takes direct responsibility for the development of tertiary sector. It provides basic services to the people like educational institutions, hospitals, banks, post-offices, police stations, post and telegraph, telephone etc. This ensures its stability and growth.
(ii) Development of means of transport and communication. The development of agriculture and industry leads to the development of services such as transport, communication, trade etc. and all these come under the tertiary sector.
(iii) Increasing demand of services. In India, the per capita income is rising at a rapid pace. As the income level rises, people demand more services like banks, tourism, shopping centers, schools etc.
(iv) New services. Modernization and globalization has resulted in some new services based on information and communication technology, and the production of these services has been rising rapidly. Thus, the tertiary sector is becoming very important in
WHAT IS TERTIARY SECTOR?
The tertiary sector of the economy (also known as the service sector or the service industry) is one of the three economic sectors, the others being the secondary sector (approximately the same as manufacturing) and the primary sector (agriculture, fishing, and extraction such as mining). The service sector consists of the "soft" parts of the economy, i.e. activities where people offer their knowledge and time to improve productivity, performance, potential, and sustainability, what is termed affective labor. The basic characteristic of this sector is the production of services instead of end products.
The growth of tertiary sector in any country indicates its economic growth. Tertiary sector is becoming important in India due to the following reasons:-
(i) Direct responsibility of the Govt. The government takes direct responsibility for the development of tertiary sector. It provides basic services to the people like educational institutions, hospitals, banks, post-offices, police stations, post and telegraph, telephone etc. This ensures its stability and growth.
(ii) Development of means of transport and communication. The development of agriculture and industry leads to the development of services such as transport, communication, trade etc. and all these come under the tertiary sector.
(iii) Increasing demand of services. In India, the per capita income is rising at a rapid pace. As the income level rises, people demand more services like banks, tourism, shopping centers, schools etc.
(iv) New services. Modernization and globalization has resulted in some new services based on information and communication technology, and the production of these services has been rising rapidly. Thus, the tertiary sector is becoming very important in