What is the backbone of the Indian economy?

Agriculture is the backbone of Indian economy.

What is the backbone of an economy?

Small businesses don’t get a whole lot of attention in the business world. Small businesses are the lifeblood that keeps the American economy functioning. …

Which form is backbone of India?

Soil is the medium of plant growth. Agriculture is the main activity of the people in India. Bumper harvest results in boom in economy. Soil supports the growth of various crops and hence is the backbone of the Indian economy.

Which sector is backbone of economy?

Agriculture is the backbone of the Indian economy, as 75% of the population of India depends on agriculture. It has now become apparent that India’s economic growth does not live up to expectations, as agricultural growth lags behind.

Which is the backbone of our country?

As we celebrate Independence Day and commemorate the Declaration of Independence of the United States, let’s salute the backbone of our nation – the American Farmer.

Which sector is the backbone of Indian economy class 10?

The MSME sector is and regarded as the backbone of the Indian economy.

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Which sector will grow in future?

Perhaps top performers of 2020 could still retain the baton for 2021.

Let’s explore the likely behaviour of some of the most popular sectors for investment:

  1. Healthcare Sector. …
  2. Telecom Sector. …
  3. FMCG Sector. …
  4. Agriculture Sector. …
  5. Aviation Sector. …
  6. Banking Sector. …
  7. Automobile Sector.

Which sector is growing fast in India?

The services sector has been the highest growing sector in six years. The Industry sector was the fastest growing sector in one year and the Agriculture sector was the fastest-growing sector in two years.

Sector-wise GDP Growth of India.

Sector Construction
GVA (Rupees in Crore) at constant prices 2017-18 5.22
2018-19 6.34
2019-20 0.98
2020-21 -8.61

Which sector is backbone of Indian economy Mcq?

Which sector is the backbone of Indian economy? Agriculture is the pillar of the Indian economy because of its high share in employment and livelihood creation.

Is service sector is backbone of Indian economy?

Agriculture is considered the backbone of Indian economy. … Primary Sector; Secondary Sector ( Manufacturing Sector); Tertiary Sector(Service Sector).

Which sector is best for investment?

7 Sectors for Long Term Investment

  • IT (Information Technology): The revival of USA economy is good news for IT sector. …
  • Pharma (Pharmaceuticals) Recently Govt of India has taken certain steps to promote pharma sector. …
  • Housing Finance Companies / NBFC: …
  • Auto – 4 Wheeler. …
  • Infrastructure: …
  • FMCG – Urban Consumption. …
  • Logistics.

Which sector is the largest employer in India?

Largest employers

Rank Employer Industry
1 Indian Railways Transportation
2 Sahara India Pariwar Conglomerate
3 Indian Armed Forces Defence
4 India Post Communications
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