Q. With reference to the Services Sector in India, consider the following statements:
1.It is the largest contributor to India’s Gross Domestic Product (GDP).
2.It includes sub-sectors such as trade, real estate, IT-BPM, and telecommunications.
3.The economic reforms of the 1990s led to a decline in the share of services in GDP.
Which of the statements given above is/are correct?
Quarterly-SFG-Jan-to-March
Red Book

[A] 1 and 2 only

[B] 2 and 3 only

[C] 1 and 3 only

[D] 1, 2 and 3

Answer: A
Notes:

Explanation:

  • The services sector is the largest contributor to India’s GDP, contributing over 50%.
  • The sector includes trade, tourism, IT-BPM, telecommunications, real estate, and more.
  • The economic reforms of the 1990s actually led to expansion, not decline, in the services sector.

Source- 11th NCERT: Economics: Indian Economic Development and TMH Indian Economy by Ramesh Singh

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