Which sector is the backbone of Indian economy?

Agriculture has long been the backbone of India’s economy.

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. 2.

Is service sector is a backbone of Indian economy?

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

Who is Indian backbone?

Vice-President M Venkaiah Naidu on Sunday said that agriculture was the “backbone of our economy” and called for unshackling the potential of rural economy to ensure income security for farmers. “Agriculture is the basic culture of India. Half of the country today depends on agriculture.

What is the backbone of economy?

Nationally, small businesses account for 48 percent of all American jobs and contribute 43.5 percent of U.S. Gross Domestic Product (GDP). Even though these businesses are considered the “backbone of the economy,” small businesses have faced an economic and existential crisis during the COVID-19 pandemic.

Which sector is the backbone of world economy?

The services sector represents a vibrant and expanding component comprising employment, value addition, productivity and innovation and hence forms the backbone of the 21st century global economy, President Ram Nath Kovind said here on Tuesday.

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Who said agriculture is the backbone of India?

Agriculture is the backbone of the Indian Economy”- said Mahatma Gandhi six decades ago.

Why is agriculture considered as the backbone of Indian economy?

Answer: Agriculture is called the backbone of Indian economy because 70% of Indian population are engaged in agriculture and raw material for the Industrial sectors like food processing company, textile industry comes from the agricultural sector. … Not just in India, but all around the world.

Is agriculture the backbone of the economy?

Agriculture is the backbone of Economic System of a Given Country. Increasing population means that there has to be an increased focus the primary sector. … This ensures that the country can focus more on developing the economy.