Question

What was the share of service sector in India's Gross Value Added (GVA) in the year 2017-18?

1. 72.5%
2. 56.7%
3. 54.3%
4. 55.2%

Answer 1

Correct Answer - Option 4 : 55.2%

The correct answer is 55.2%.

• 55.2% share of the service sector in India's Gross Value Added (GVA) in the year 2017-18.

 

• In economics, gross value added (GVA) is the measure of the value of goods and services produced in an area, industry or sector of an economy.
  • Gross value added is the value of output minus the value of intermediate consumption.
  • It is a measure of the contribution to GDP made by an individual producer, industry or sector.
  • Gross value added is the source from which the primary incomes of the SNA are generated and is therefore carried forward into the primary distribution of income account."