Which one of the following statements is correct with respect to the c

by

Which one of the following statements is correct with respect to the composition of national income in India?

The share of manufacturing sector has declined.
The share of services sector has increased sharply.
The share of agriculture has remained static.
The share of services sector has declined.
This question was previously asked in
UPSC CDS-2 – 2016
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The correct statement is B) The share of services sector has increased sharply.
Over the past several decades, the Indian economy has undergone a significant structural transformation. The share of the services sector in the country’s national income (GDP) has risen dramatically and is now the largest contributor, while the share of the agricultural sector has declined substantially. The share of the manufacturing sector has remained relatively stagnant or has seen modest growth, but not a sharp decline.
This trend of services-led growth is somewhat unusual compared to typical development paths where manufacturing plays a larger role in the middle-income phase. While services have grown sharply, creating jobs and income, the lagging growth in manufacturing poses challenges for creating sufficient employment opportunities for a large workforce transitioning out of agriculture.

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