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Directions (151-160) :
Read the following passage carefully and answer the questions given below it. Certain words/phrases have been printed in bold to help you locate them while answering some of the questions.
On attending a conference which focussed on the role of the services sector in Indian economy,I was amazed. This conference gave a very interesting perspective on the role of the service sector in the growth of the Indian economy in relation to growth rates in agriculture and industry. The current situation in India is that the growth rate of services has overtaken both agriculture and industry and is now more than fifty percent of GDP. The services sector has the highest growth rate and is the least volatile sector.Growth is particularly marked in public services, IT and financial services. In some areas the growth rate of the services sector is forty to fifty percent due to increased use of mobile technologies. India therefore has a services-oriented economy. It hasn’t followed traditional growth models as in China. However, in the process of doing so it has skipped the manufacturing stage and has jumped straight from the agricultural stage to services which is also the main reason for the expansion of the services sector. Growth in the services sector will support growth in the agricultural and industrial sectors. However the only setback for Indian economy is the lack of growth in the manufacturing sector,which causes dependence on other countries which is not so desirable in terms of job creation and increased prosperity.
Population is also a major concern of the Indian economy .As the population of India grows so also does the number of dependents in the population in both the lower and higher age groups .In such a scenario of increasing population,especially in an economy which is still recovering from crisis ,growth becomes difficult. For such an economy to grow it has to invest.
Currently the public sector invests more than it saves. The house hold sector saves in surplus, but this is not increasing so it cannot continue to support private and public sectors.There is a massive need to spend on agriculture and infrastructure development of the country.Apart from that health and education,should also be the priority of the government particularly the education of women, in order to reduce the birth rate.
However, all said and done we cannot deny the fact that growing population of India can also benefit the Indian economy if considered as a residing asset and used efficiently.In fact, it is said that in the next two decades a ‘growth window’for India will open which may not come again because the working population to total population ratio increases up to mid-2030s only.It is important for India to maximise its economic growth. For doing so it will be important for India to absorb the growing labour force if the services sector is to play an important role. India is in a strong position to do this since it has a history of using English for communication,which in turn supports global trade and finance. Only the services sector can have a major impact on poverty. Improvements in agriculture are not having an effect on poverty.
Today, to address the issue of poverty in India there is a need to change the bad sectors to good sectors and in turn to move people from unemployment to employment.This is happening with growth in human skills intensive sectors such as hotels, restaurants and IT,but there are geographical, labourunions and human skills restrictions on labour movement. The key question here I suppose, is that-can services lead the economy? For example,can services, such as IT, betaken to rural areas? Experts in the conference have suggested that it seems that the services could lead the economy; however there are a certain prerequisites for the same.In other words, there needs to be greater equality between the different States and a better gender balance There is also the need for additional fiscal capacity, tax reforms to fund education, reduction in government debt and the revenue account must be kept in balance.Progress is good but still initial conditions for growth have not yet been achieved.
ENGLISH LANGUAGE
Directions (151-160) :
Read the following passage carefully and answer the questions given below it. Certain words/phrases have been printed in bold to help you locate them while answering some of the questions.
On attending a conference which focussed on the role of the services sector in Indian economy,I was amazed. This conference gave a very interesting perspective on the role of the service sector in the growth of the Indian economy in relation to growth rates in agriculture and industry. The current situation in India is that the growth rate of services has overtaken both agriculture and industry and is now more than fifty percent of GDP. The services sector has the highest growth rate and is the least volatile sector.Growth is particularly marked in public services, IT and financial services. In some areas the growth rate of the services sector is forty to fifty percent due to increased use of mobile technologies. India therefore has a services-oriented economy. It hasn’t followed traditional growth models as in China. However, in the process of doing so it has skipped the manufacturing stage and has jumped straight from the agricultural stage to services which is also the main reason for the expansion of the services sector. Growth in the services sector will support growth in the agricultural and industrial sectors. However the only setback for Indian economy is the lack of growth in the manufacturing sector,which causes dependence on other countries which is not so desirable in terms of job creation and increased prosperity.
Population is also a major concern of the Indian economy .As the population of India grows so also does the number of dependents in the population in both the lower and higher age groups .In such a scenario of increasing population,especially in an economy which is still recovering from crisis ,growth becomes difficult. For such an economy to grow it has to invest.
Currently the public sector invests more than it saves. The house hold sector saves in surplus, but this is not increasing so it cannot continue to support private and public sectors.There is a massive need to spend on agriculture and infrastructure development of the country.Apart from that health and education,should also be the priority of the government particularly the education of women, in order to reduce the birth rate.
However, all said and done we cannot deny the fact that growing population of India can also benefit the Indian economy if considered as a residing asset and used efficiently.In fact, it is said that in the next two decades a ‘growth window’for India will open which may not come again because the working population to total population ratio increases up to mid-2030s only.It is important for India to maximise its economic growth. For doing so it will be important for India to absorb the growing labour force if the services sector is to play an important role. India is in a strong position to do this since it has a history of using English for communication,which in turn supports global trade and finance. Only the services sector can have a major impact on poverty. Improvements in agriculture are not having an effect on poverty.
Today, to address the issue of poverty in India there is a need to change the bad sectors to good sectors and in turn to move people from unemployment to employment.This is happening with growth in human skills intensive sectors such as hotels, restaurants and IT,but there are geographical, labourunions and human skills restrictions on labour movement. The key question here I suppose, is that-can services lead the economy? For example,can services, such as IT, betaken to rural areas? Experts in the conference have suggested that it seems that the services could lead the economy; however there are a certain prerequisites for the same.In other words, there needs to be greater equality between the different States and a better gender balance There is also the need for additional fiscal capacity, tax reforms to fund education, reduction in government debt and the revenue account must be kept in balance.Progress is good but still initial conditions for growth have not yet been achieved.
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