Growth of GDP and major sectors (in %) -
| Sectors | 1980-1991 | 1992-2001 | 2002-2007 | 2007-2012 | 2012-2017 XII plan | |
| Target I | Target II | |||||
| Agriculture | 3.6 | 3.3 | 2.3 | 3.2 | 4.0 | 4.2 |
| Industry | 7.1 | 6.5 | 9.4 | 7.4 | 9.6 | 10.9 |
| Services | 6.7 | 8.2 | 7.8 | 10.0 | 10.0 | 10.0 |
| Total | 5.6 | 6.4 | 7.8 | 8.2 | 9.0 | 9.5 |
Identify which sector has attained the highest growth during reform period till 2012.
Answer & explanation
Correct answer: option 2
The correct answer is option (2) : Service sector
To determine the average growth rates of different sectors from 1992 to 2012, we will calculate the average for each period provided (1992-2001, 2002-2007, and 2007-2012).
Growth Rates from 1992 to 2012
Agriculture Sector:
- 1992-2001: 3.3%
- 2002-2007: 2.3%
- 2007-2012: 3.2%
Average Growth Rate for Agriculture (1992-2012): 2.93%
Industry Sector:
- 1992-2001: 6.5%
- 2002-2007: 9.4%
- 2007-2012: 7.4%
Average Growth Rate for Industry (1992-2012): 7.77%
Services Sector:
- 1992-2001: 8.2%
- 2002-2007: 7.8%
- 2007-2012: 10.0%
Average Growth Rate for Services (1992-2012): 8.67%
Summary:
- Agriculture Sector: 2.93%
- Industry Sector: 7.77%
- Services Sector: 8.67%
Conclusion:
The sector with the highest average growth rate from 1992 to 2012 is the Services Sector, with an average growth rate of approximately 8.67%.