Question 630
Which sector contributed the highest share (46%) to Assam’s economy at current prices in 2023-24?
Answer
Services
Why?
The correct answer is Services. Key Points The Services sector was the largest contributor to Assam's economy in 2023-24, accounting for 46% of the GSDP at current prices. In terms of growth at constant prices, the services sector showed a massive increase of 24.3% in 2023-24. This sector encompasses activities such as trade, hotels, transport, communication, banking, insurance, and public administration. The dominance of the services sector indicates a maturing economy that is moving towards a service-led growth model. Assam's service sector growth in 2023-24 significantly outperformed the national average growth in the same sector. Additional Information Agriculture: This sector contributed 35% to Assam's economy in 2023-24 and experienced a growth rate of 17% at constant prices. Manufacturing: This sector contributed 19% to the GSDP but saw a contraction of -6.4% in growth at constant prices during 2023-24. Mining: This is a sub-sector of the industrial category; Assam is particularly rich in oil, natural gas, and coal, which are vital to its industrial output. GSDP Growth: Assam's overall GSDP (at constant prices) grew by 13.3% in 2023-24, compared to India’s GDP growth of 9.2%.
