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Public administration and defense
Today in India, service sector alone contributes more than half of its GDP. According to financial year 2007-08, share of service sector is about 55.1 % i.e. more than industry sector (26.4%) and agriculture sector (18.5%). The service sector now accounts for more than half the GDP marks a turning point in the evolution of the Indian economy and takes it closer to the essentials of a developed economy.
There was marked increase in rate of services sector’s growth in the eighties and nineties. While the share of services in India's GDP increased by 21 per cent points in the 50 years between 1950 and 2000, nearly 40 per cent of that increase was concentrated in the nineties...
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