4 sectors of Economy - Indian Economy UPSC notes

The economy is often categorized into four main sectors based on the type of economic activity they involve. These sectors help to understand how different parts of the economy interact and contribute to the overall economic development. The four sectors of the economy are: 1. Primary Sector : The primary sector involves the extraction and harvesting of natural resources. It includes activities that directly use natural resources or raw materials from the Earth. Key activities : Agriculture, mining, forestry, fishing, and hunting. Examples : Farming (growing crops like wheat, rice, and vegetables). Mining (extracting minerals like coal, gold, and oil). Forestry (harvesting timber). Fishing (commercial fishing for seafood). The primary sector is important because it forms the foundation of many economies, providing the raw materials for industries in other sectors. 2. Secondary Sector : The secondary sector is concerned with the processing, manufacturing, and construction of goods. It takes the raw…