International Journal of Education and Management Studies

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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
     

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

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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