Services sector contributes over 50 per cent to India’s GDP. It has been the worst affected among all the sectors due to COVID.
Contraction and Recovery
The sector contracted by 8.4 per cent Year on Year in 2020-21.
This decline was driven by a sharp contraction of 18.2 per cent YoY in the sub-sector ‘Trade, hotels, transport, communication & services related to broadcasting’.
During the first half of the current fiscal year, the services sector has registered a steady recovery. The subsector ‘Trade, hotels, transport, communication & services related to broadcasting’, which was the worst hit last year, grew by ....
