International Journal of Education and Management Studies

Open Access Open Access  Restricted Access Subscription Access
Open Access Open Access Open Access  Restricted Access Restricted Access Subscription Access

Comparative Study of Gross Value Added by Different Sectors of Indian Economy


Affiliations
1 Department of Agriculture Economics CCSHAU, Hisar, Haryana, India
2 Extension Lecturer Government College, Haryana, India
3 HSB, GJUS&T, Hisar, Haryana, India
     

   Subscribe/Renew Journal


Current study was based on the secondary data in order to compare the gross value addition by different sectors of the Indian economy namely; Agriculture, Forestry and Fishing, Industry, Mining and Quarrying, Manufacturing, Electricity, Gas, Water Supply and Other Utility, Services, Construction, Hotels, transport, communication and services related to broadcasting, Financial, Real Estate and Professional Services, and Public Administration, Defence and Other Services. Researcher also aims to measure the trend or growth of the gross value addition of these sectors during the year 2011- 18. Data has been taken from the annual publication of the RBI related to the Indian economy for the above mentioned period. Trend or growth in the share of different sectors to the total gross value added of Indian economy, has been shown using graphs while the comparative study of Gross value addition by different sectors of Indian economy has been done using descriptive statistics and the One-way ANOVA test. Further, researcher has done post-hoc analysis using Turkey's test to highlight the particular groups of variables where the mean values were found to be significantly different if any. Welch test has been used to measure the equality of means. It was found that overall there is a growth in the gross value addition of the Indian economy during the year 2011-12 to 2017-18. All the sectors are showing growth in their share in the gross value addition of Indian economy, except for construction, Agriculture, Forestry and Fishing and Electricity, Gas, Water Supply and Other Utility sector. While, in Mining and Quarrying sector have shown consistency in the gross value addition during the period 2011-12 to 2017-18. The highest percentage of gross value addition was found to be of Services sector and lowest percentage of Gross value addition was found of Electricity, Gas, and Water Supply and Other Utility sector. This shows that service sectors are contributing highly towards the gross value addition of the Indian economy while Electricity, Gas, Water Supply and Other Utility sector is contributing lowest to the gross value addition of Indian economy. Further, the study showed the significant difference in the gross value addition of different sectors of Indian economy.

Keywords

Indian Economy, Gross Value Addition, Industrial Sector, Service Sector, Trend or Growth Analysis.
Subscription Login to verify subscription
User
Notifications
Font Size


  • Byett et al. (2015). Assessing new approaches to estimating the economic impact of transport interventions using the gross value added approach. NZ Transport Agency Research Report 566, pp. 1-131.

  • Business Intelligence Statistical Bulletin (2018). Gross Value Added (GVA) at 2016. Strategic Business Development andIntelligence, Research andEvaluation, pp. 1-24.

  • Cehla et al. (2016). Factors influencing the gross value added in the sheep production Chain. Applied Studies in Agribusiness and Commerce, pp. 141-146.

  • Dev (2017). Recent changes in measurement of India's GDP: Overall issues and some focus on agriculture. Indira Gandhi Institute of Development Research, pp. 1 -47.

  • Goldar, B., & Arup, M. (2013). Small versus large manufacturing units: How efficient are they? JournalofAsia Pacific Economy, 75(4), 634-653.

  • Grater (2014). Comparative advantage of value-added services: The case of South Africa. Managing Global Transitions, 12(3), 279-295.

  • Golder et al. (2016). Productivity growth and levels: A comparison of formal and informal manufacturing in India. The Fourth World KLEMS Conference, BBVA Foundation, Spain, May, pp. 1-42.

  • Jain et al. (2015). Factors affecting GDP (Manufacturing, Services, Industry): An Indian Perspective. Annual Research Journal of Symbiosis Centre for Management Studies, 5,38-56.

  • Kapoor, R. (2014). Creating Jobs in India's organised manufacturing sector. Indian Council for Research on International Economic Relations. CRIER, September, pp. 1-34.

  • Lehmann, R., & Klaus, W. (2013). Forecasting gross value-added at the regional level: Are sectoral disaggregated predictions superior to direct ones? Leibniz Institute for Economic Research, University ofMunich, December 2013, September 2014, pp. 1-22.

  • Marcu et al. (2014). GDP correlation analysis with structural elements of added value. 2nd-International Conference-'Economic Scientific Research- Theoretical. Empirical and Practical Approaches, pp. 1-5.

  • Nagaraj, R., & Srinivasan, T. N. (2016). Measuring India's GDP growth: Unpacking the analysis and data issues behind a controversy that refuses to go away. National Council of Applied Economic Research, Indian Policy Forum, July, pp. 1-44.

  • Schildbach (2007). Gross value-added in the financial sector. Deutsche Bank Research, pp.1-2.

  • Singh, S., & Mehala, V (2016). Agriculture development level disparities in Indian states. InternationalJournal ofAgriculture Sciences, 5(62), 3533-3535.

  • Volek, T., & Martina, N. (2015). Gross value added and total factor productivity in czech sectors. Contemporary Economics, 9(l),17-28.

  • Wieland, E., & IIja, K.K. (2016). Estimating gross value added volumes and prices by institutional sector. European Central Bank, 14,1-33.


Abstract Views: 255

PDF Views: 0




  • Comparative Study of Gross Value Added by Different Sectors of Indian Economy

Abstract Views: 255  |  PDF Views: 0

Authors

Kavita
Department of Agriculture Economics CCSHAU, Hisar, Haryana, India
Monu Devi
Extension Lecturer Government College, Haryana, India
Meenu Punia
Department of Agriculture Economics CCSHAU, Hisar, Haryana, India
Satbir Singh
HSB, GJUS&T, Hisar, Haryana, India

Abstract


Current study was based on the secondary data in order to compare the gross value addition by different sectors of the Indian economy namely; Agriculture, Forestry and Fishing, Industry, Mining and Quarrying, Manufacturing, Electricity, Gas, Water Supply and Other Utility, Services, Construction, Hotels, transport, communication and services related to broadcasting, Financial, Real Estate and Professional Services, and Public Administration, Defence and Other Services. Researcher also aims to measure the trend or growth of the gross value addition of these sectors during the year 2011- 18. Data has been taken from the annual publication of the RBI related to the Indian economy for the above mentioned period. Trend or growth in the share of different sectors to the total gross value added of Indian economy, has been shown using graphs while the comparative study of Gross value addition by different sectors of Indian economy has been done using descriptive statistics and the One-way ANOVA test. Further, researcher has done post-hoc analysis using Turkey's test to highlight the particular groups of variables where the mean values were found to be significantly different if any. Welch test has been used to measure the equality of means. It was found that overall there is a growth in the gross value addition of the Indian economy during the year 2011-12 to 2017-18. All the sectors are showing growth in their share in the gross value addition of Indian economy, except for construction, Agriculture, Forestry and Fishing and Electricity, Gas, Water Supply and Other Utility sector. While, in Mining and Quarrying sector have shown consistency in the gross value addition during the period 2011-12 to 2017-18. The highest percentage of gross value addition was found to be of Services sector and lowest percentage of Gross value addition was found of Electricity, Gas, and Water Supply and Other Utility sector. This shows that service sectors are contributing highly towards the gross value addition of the Indian economy while Electricity, Gas, Water Supply and Other Utility sector is contributing lowest to the gross value addition of Indian economy. Further, the study showed the significant difference in the gross value addition of different sectors of Indian economy.

Keywords


Indian Economy, Gross Value Addition, Industrial Sector, Service Sector, Trend or Growth Analysis.

References