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INDIAS SERVICE
SECTOR
A Descriptive Study
Amita Marwha
Lecturer Deptt. of Economics
Isabella Thoburn College,Lucknow
Introduction
The objective of Indias development strategy
since independence has been to establish a
socialistic pattern of society through economic
growth with self-reliance, social justice and
alleviation of poverty. These objectives were
to be achieved within a democratic political
framework using the mechanism of a mixed
economy where both public and private
sectors co-exist.
Introduction
The industrialization strategy articulated by Professor
Mahalanobis during the Second Five Year Plan (NehruMahalanobis Plan) placed emphasis on the development
of heavy industries and envisaged a dominant role for
the public sector in the economy. The objectives of
industrial policy were: to increase growth rate, selfreliance, effective policy to reduce foreign
interference, to lay strong foundation for building
up of indigenous capacity, encouraging small
scale industry, bringing about balanced regional
development, prevention of concentration of
economic power, reduction of income inequalities
and control of economy by the State.
.
INDIAS GDP GROWTH RATE
India
10
Sectors
1983-87
1987-93
1994-00
2000-05
2005-10
1983-93
19942010
Agricult 2.0
3.90
3.40
1.88
2.73
3.5
2.86
Industry 5.52
5.72
7.00
5.56
8.54
5.59
7.13
Manufact 5.7
5.28
7.39
5.93
9.35
5.5
7.75
5.39
6.40
9.26
10.44
5.0
7.79
6.45
8.65
7.77
9.97
6.56
8.7
ure
uring
Construct 4.5
ion
Services
Source:
Central
Statistica
6.69
SECTOR
Avg. Growth
Avg. Growth
Avg. Growth
in 1950s-70s
in 1980s
in 1990s
in 1990)
in 2000)
4.8(11.7)
4.8(0.7)
5.9(11.9)
6.5(0.7)
7.3(13.7)
9.3(1.0)
4.2(1.5)
6.3(3.6)
4.5(1.4)
6.3(3.8)
3.6(1.1)
6.9(4.3)
TRADE AND
HOTELS
Trade
Hotels &
Restaurants
TRANSPORT
AND OTHERS
Railway
Transport by
other means
SECTOR
Avg. Growth
Avg. Growth
Avg. Growth
in 1950s-70s
in 1980s
in 1990s
(Share in
in 2000)
Storage
5.5(0.1)
2.7(0.1)
2(0.1)
Communication
6.7(1.0)
6.1(1.0)
13.6(2.0)
Banking
7.2(1.9)
11.9(3.4)
12.7(6.3)
Insurance
7.1(0.5)
10.9(0.8)
6.7(0.7)
Real Estate
2.6(4.0)
7.7(4.8)
5.0(4.5)
Business
4.2(0.2)
13.5(0.3)
19.8(1.1)
Services
Legal Services
2.6(0.0)
8.6(0.0)
5.8(0.0)
FINANCE
25
20
15
10
Despite
197278
197883
1983- 198788
94
19932000
20002005
200510
Primary sector
1.78
1.56
0.28
2.16
0.05
1.40
-1.63
Secondary
4.78
3.95
6.44
0.19
2.44
5.83
3.46
4.86
3.46
2.11
5.03
2.85
4.08
1.59
sector
Tertiary sector
Methodology
Quantitatively
REGRESSON MODEL
Assuming a linear
relationship among
explanatory variables the
explicit form of equation (1)
becomes:
EMPT =
+
GDP +
FDI +
PE + 4 RD+ 5
VARIABLES
NUMBER
OF MEAN
OBSERVATIONS
EMPLOYMENT(SERV 29
STANDARD
DEVIATION
83125.0
24654.0
2131250
1163038
30
6.319
2.227
30
4792.0
4851.0
29
18848.0
27416.0
ICES) IN MILLION
GDP GROWTH
IN 29
MILLION
REALGDP
GROWTH RATE
PUBLIC
EXPENDITURE
IN
MILLION
FDI INFLOW
Observation
Apart from employment which is
Observation
A real GDP growth rate is a measure of economic
Observation
Indias growth has not been more variable than other
Conclusion
The above model shows that there is a correlation
Contd.
There is a negative correlation between research and
Thank You