What were the shares of the Agriculture, Industry and Services sectors in overall GVA at current prices in Financial Year 2024 according to the Economic Survey 2023-24 ?
17.7%, 27.6% and 54.7%
The Economic Survey 2023-24 put the shares at 17·7 per cent for agriculture, 27·6 per cent for industry and 54·7 per cent for services — option 1.
| Sector | Share of GVA at current prices, FY 2024 |
|---|---|
| Agriculture and allied activities | 17·7 per cent |
| Industry | 27·6 per cent |
| Services | 54·7 per cent |
| Total | 100 per cent |
A useful check. The three figures must add to 100, and only option 1 does so exactly: 17·7 + 27·6 + 54·7 = 100·0. Option 2 gives 100·0 as well, but options 3 and 4 give 100·0 too, so the sum alone does not settle it — what does is remembering the broad structure: agriculture a little under a fifth, industry a little over a quarter, services a little over half.
Why GVA and not GDP. Gross Value Added measures output at basic prices, before net taxes on products are added. GDP at market prices equals GVA at basic prices plus product taxes minus subsidies. Sectoral shares are quoted from GVA because taxes and subsidies do not belong to any one producing sector, so GVA gives a cleaner picture of what each sector actually produces.
What the structure tells us. India’s services sector has grown to dominate output while agriculture’s share of output has fallen steadily — yet agriculture still supports roughly 45 per cent of the workforce. That gap between a 17·7 per cent share of output and a far larger share of employment is the central structural problem of the Indian economy, since it implies low productivity per worker in farming and is the reason employment-generating manufacturing growth is so heavily emphasised in policy.
Hence, the answer is 17.7%, 27.6% and 54.7%.
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