Abstract:
As an economy grows it will undergo some structural changes. Study of the shares of the three
sectors, viz, agriculture, industry and services, in output, consumption and employment shares
has not been a new phenomenon and has been of interest of scholars for centuries now. In
developmental process, occupational structural transformation is avowed outcome. Indian
economy also has been experiencing this structural change. The structural changes of an
economy that involve the dynamics of sector shares (agricultural, Industry, services) are related
to each other and to economic growth as well. According to structural change theory, as GDP
per capita increases, the % share of employment in primary sector decreases on the other hand %
share of the secondary sector initially increases and subsequently decreases, while the % share of
tertiary sector increases steadily. This paper the changes in sectoral changes in three main sectors
of Indian economy will be measured using Sectoral Changes Index (SCI). |
International Journal of Arts and Humanities