Compare the contribution of employment and GDP to the Indian economy.
Ans. Following is the contribution of GDP:In 1950-51, GDP at factor cost at constant prices was RS 140466 corers and in 2003-2004 were Rs 1424507 corers. In 2003-04, GDP growth rate was 8.2%.
In 2003-04 in primary sector, growth rate was 8.6%. In 2003-04, in secondary sector growth rate was 6.7%.
In 2003-04, in Tertiary sector growth rate was 8.4%.
Following is the contribution of Employment:In 1951- percentage of working force in India engaged in primary, secondary and tertiary sector was 72.1% 10.7% and 17.2% respectively.
In 1999-2000, percentage of working force in India engaged in Primary, secondary and tertiary sector was 60.4%, 16.8% and 22.7% respectvily.