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Sectors of Indian Economy - Coggle Diagram
Sectors of Indian Economy
Sectors
Classification
Tertiary
Provide Service
Primary
Involve the use of natural Resource
Secondry
Involves manufacturing and processing of raw materials into finished goods.
Contribution in GDP
Primary Sector
Essential in development in India due to agriculture
Secondry Sector
Industries help in the rapid growth of economy
Tertiary Sector
Growing importance due to services like IT and tourism
Types
Organized Sector
Registered by government, follows rules
Have
Job security, fixed salary, paid overtime, pension and provident fund, paid leaves and sick leaves
Unorganized Sector
Not registered by the government
Lack
Job security, paid low wages, no paid overtime, no pension and provident fund, no paid leaves and no sick leaves, no fix salary
Public Sector
Owned and Operated by individual or companies
Private Sector
Owned and Operated by government
Problems related to Indian Economy
Disguised Unemployment
More workers are employed than needed,
generally in agriculture
Underemployment
Workers work below their capacity or are partially employed
Also know as seasonal unemployment
How to create More Employment
Develop infrastructure
Invest in small and medium enterprises
Promotes tourism and services