SECTORS OF

INDIAN ECONOMY PRESENTED BY:

ALFARHAN ZAHEDIX-C(05)

CONTENTS•ECONOMY OF INDIA – A BRIEF INTRO•ECONOMY OF INDIA – CONTD.•SECTORS OF INDIAN ECONOMY : CLASSIFICATION•SECTORS OF INDIA ECONOMY : CLASSIFICATION 1

• PRIVATE AND PUBLIC SECTORS• VOLUNTARY AND QUATERNARY SECTOR

•SECTORS OF INDIAN ECONOMY : CLASSIFICATION 2• PRIMARY SECTOR• SECONDARY SECTOR• TERTIARY SECTOR• GROWTH AND STATUS OF DIFFERENT SECTORS IN INDIA

•SECTORS OF INDIAN ECONOMY :CLASSIFICATION 3• ORGANISED SECTOR AND UNORGANISED SECTOR

•GOVERNMENT AIDED SCHEMES TO FIGHT UNEMPLOYMENT

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Economy of India

Mumbai, The entertainment, fashion, and commercial centre of India

Rank 9th (nominal) / 3rd (PPP)

Currency 1 (INR) ( ) = 100 Paisa

Fiscal year 1 April – 31 March

Trade organizations WTO, SAFTA, G-20 and others

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The economy of India is the ninth-largest in the world by nominal GDP and the third-largest by purchasing power parity (PPP).The country is one of the G-20 major economies and a member of BRICS. On a per-capita-income basis, India ranked 141st by nominal GDP and 130th by GDP (PPP) in 2012, according to the IMF. India is the 19th-largest exporter and the 10th-largest importer in the world. Economic growth rate slowed to around 5.0% for the 2012–13 fiscal year compared with 6.2% in the previous fiscal. It is to be noted that India's GDP grew by an astounding 9.3% in 2010–11. Thus, the growth rate has nearly halved in just three years. GDP growth went up marginally to 4.8% during the quarter through March 2013, from about 4.7% in the previous quarter. The government has forecasted a growth of 6.1%-6.7% for the year 2013-14, whilst the RBI expects the same to be at 5.7%.The independence-era Indian economy (from 1947 to 1991) was based on a mixed economy combining features of capitalism and socialism, resulting in an inward-looking, interventionist policies and import-substituting economy that failed to take advantage of the post-war expansion of trade. This model contributed to widespread inefficiencies and corruption, and the failings of this system were due largely to its poor implementation.

Economy of India

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SECTORS OF

INDIAN ECONOMYON THE BASIS OF OWNERSHIP

PRIVATE SECTOR

PUBLIC SECTOR

ON THE BASIS OF THE NATURE OF THE ACTIVITY PERFORMED

PRIMARY SECTOR

SECONDARY SECTOR

TERTIARY SECTOR

ON THE BASIS OF THE CONDITION OF THE WORKERS

ORGANISED

UNORGANISED

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ON OWNERSHIP BASISPRIVATE SECTOR

PUBLIC SECTOR

VOLUNTARY SECTOR

QUATERNARY SECTOR

SECTORS OF INDIAN ECONOMYCLASSIFICATION 1:

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PRIVATE AND

PUBLIC SECTORPUBLIC SECTOR: •It includes all those economic activities that are owned and managed by government agencies. Major activities are social security services, managing national defenses and administering public transportations. Some examples of public bodies in India and the United Kingdom are educational bodies, health care bodies, police and prison services, and local and central government bodies and their departments. PRIVATE SECTOR: •Involves economic activities that are managed by private institutions. •Profit making is its sole purpose. However, some exceptions are possible and functional in the sector. For example, retail stores, credit unions, and local businesses will operate in the private sector.CONTINUE

VOLUNTARY AND

QUATERNARY SECTORVOLUNTARY SECTOR: •Known as the civic sector. •It includes those social activities that are undertaken by non- governmental and non- profit organizations. •Includes various political parties, volunteer communities and religious and charitable organizations. 

QUATERNARY SECTORIt covers various intellectual activities in an economy related to: •culture •government •scientific research •Information technology 

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SECTORS OF INDIAN ECONOMY

CLASSIFICATION 2:ON THE BASIS OF THE NATURE OF THE ACTIVITY PERFORMED 

PRIMARYSECTOR

SECONDARY SECTOR

TERTIARY SECTOR

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PRIMARY SECTORPrimary sector are activities undertaken by directly using natural resources. Example—Agriculture , Mining, Fishing, Forestry, Dairy etc. It is called primary sector because it forms the base for all other products that we subsequently make. Since most of the natural products we get are from agriculture, dairy, forestry, fishing it is also called Agriculture and related sector .

FISHERIES AND AGRICULTURE BELONG THE PRIMARY SECTOR

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SECONDARY SECTOR

It covers activities in which natural products are changed into other forms through ways of manufacturing that we associate with industrial activity. It is a next step after primary, where the product is not produced by nature but has to be made. Some process of manufacturing is essential, it could be in a factory, a workshop or at home. Example : Using cotton fibre from plant, we spin yarn and weave cloth; using sugarcane as a raw material we make sugar or gur; we convert earth into bricks. Since this sector is associated with different kinds of industries, it is also called industrial sector .

SECONDARY SECTOR MOSTLY INCLUDES INDUSTRIES

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TERTIARY SECTORThese are the activities that help in the development of the primary & secondary sector. These activities by themselves do not produce good but they are an aid and support to the production process. Example: a)Transportation--Goods that are produced in the primary sector need to be transported by trucks or trains and than sold in the wholesale and retail shops. b)Storage--at times it is necessary to store these products in godowns , which is also a service made available. c)Communication --talking to others on telephone. d)Banking--borrowing money from the banks.

TRANSPORT SYSTEM BELONGS TO THE SERVICE SECTOR

BANKING BELONGS TO THE SERVICE SECTOR

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GROWTH AND STATUS OF DIFFERENT SECTORS IN INDIA

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SECTORS OF INDIAN ECONOMYCLASSIFICATION 3:

ON THE BASIS OF THE CONDITION OF THE WORKERS

ORGANISED SECTOR

UNORGANISED SECTOR

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ORGANISED AND

UNORGANISED SECTORORGANISED SECTOR: The sector which carries out all activity through a system and follows the law of theland is called organized sector. Moreover, labour rights are given due respect andwages are as per the norms of the country and those of the industry. Labour workingorganized sector get the benefit of social security net as framed by the Government.Certain benefits like provident fund, leave entitlement, medical benefits andinsurance are provided to workers in the organized sector.These security provisions are necessary to provide source of sustenance in case of disability or death of the main breadwinner of the family.

UNORGANISED SECTOR:The sector which evade most of the laws and don’t follow the system come underunorganized sector. Small shopkeepers, some small scale manufacturing units keepall their attention on profit making and ignore their workers basic rights. Workersdon’t get adequate salary and other benefits like leave, health benefits and insuranceare beyond the imagination of people working in unorganized sectors.

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GOVERNMENT AIDED SCHEMES TO FIGHT UNEMPLOYMENT

Government, from time to time, announces and implements various employmentscheme to fight unemployment or hidden employment to help the weaker section ofsociety. Schemes like NREGA (National Rural Employment Guarantee Act) is the latestannounced by the UPA government in 2004. This programme guarantees a minimumof 100 days of employment to at least one person from every rural household. This ispart of government’s effort to ensure the ‘Right to Work’ to the rural poor citizen.