IMPACT OF SERVICE SECTOR LIBERALIZATION ON EMPLOYMENT IN INDIA

Description

India is a vast country, so the sectors contribution to the country’s GDP also big in numbers. Agriculture is the pre-dominant occupation in India, employing more than 50 per cent of the population. The Indian economy had diversified and expanded very fast during the last two decades. The economy of India is the ninth largest in the world by nominal GDP and the fourth largest by purchasing power parity. Structural changes are taking place in the Indian Economy. “Structural change permits viable growth to occur and growth provides the material for subsequent structural change” (Uphold and Eichmann, 1972). According to structuralists (Fisher, 1935; Clark, 1960; Kuznets, 1966, 1969, 1972; Chenery and Syrquin, 1970), as the process of economic development proceeds, the share of agricultural sector in national income and employment, which is typically high in the early stages of development, begins to decline and that of non- agricultural sectors experience a rise.