Answer the question in maximum 50 words/5 to 6 lines. This question carries 05 marks. [MPPSC 2021]
What is Service sector? What is the contribution of service sector in Gross state value addition of Madhya Pradesh?
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What is the Service Sector?
The service sector includes industries that provide services rather than goods, such as healthcare, education, finance, and tourism.
Contribution of Service Sector in Madhya Pradesh
In Madhya Pradesh, the service sector contributes significantly to the Gross State Value Added (GSVA). As of the latest data, it accounts for approximately 50% of the GSVA, highlighting its vital role in the state’s economy. This growth supports job creation and enhances overall development.