Where are most of the people employed?
Even though industrial output or production of goods rose by nine times but employment in the industry rose up by three times only. Same for tertiary, the production rose by 14 times but employment by only five times. Because of this more than half of the workers in the country are working in the primary sector, producing only one-sixth of the GDP. In contrast, secondary and tertiary sectors produce the rest of the product where they employ less than half of the people.
This implies there are more people in agriculture than required, because of which people and workers are underemployed. Underemployment refers to the situation where people are working but all of them are made to work very less than potential. This kind of underemployment is hidden and not visible, hence it is also called disguised unemployment.
Sectors of Indian Economy
Indian economy is one of the fastest-growing economies of the world and can be broadly divided into the sectors of primary, secondary, and tertiary activities. Tertiary activities are further divided into Quaternary and quinary activities.
Table of Content
- Indian Economy
- Primary Sector
- Secondary Sector
- Tertiary Sector
- Comparing the Three Sectors
- Rising Importance of the Tertiary Sector
- Where are most of the people employed?
- How to create more employment?
- Organized and Unorganised Sector
- Sectors in terms of Ownership
- Major Performing Sectors in India