What is GDP?
GDP(Gross Domestic Product): it is overall (Gross) market value of all final goods and services produced within the domestic boundary of a country in a financial year.
Sectors of GDP:-
(i) Primary sector: Agriculture, Mining, Forestry, Poultry, Fishing,Horticulture, Dairy, Animal Husbandry etc.
(ii) Secondary Sector: Chemical and Fertilizers, Automobiles, Textile, Pharmaceutical, Gems and Jewelry, Infrastructure, Petroleum and Petro Products etc.
(iii) Tertiary Sector: Education and Hospitality, Information Technology Sector (IT sector), Logistics (Transportation) Sector, Energy and Power Sector, Insurance, Banking etc. Note: Generally Primary sector known as agriculture sector, secondary industries sector and Tertiary sector known as service sector.