Ojaank IAS Academy

OJAANK IAS ACADEMY

𝐈𝐍𝐍𝐎𝐕𝐀𝐓𝐈𝐎𝐍 𝐈𝐍 𝐄𝐃𝐔𝐂𝐀𝐓𝐈𝐎𝐍

OJAANK IAS ACADEMY

07 July 2022 – Current Affairs

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 Joint conference of ICRIER and NSE

Paper 3 – Economy
Why Should You Know?

Recently The Union Agriculture and Farmers Welfare Minister Shri Narendra Singh Tomar inaugurates the joint conference of ICRIER and NSE through video conference.

In details –
  • On July 6, 2022 The Union Agriculture and Farmers Welfare Minister Shri Narendra Singh Tomar virtually inaugurated the joint conference of the Indian Council for Research on International Economic Relations (ICRIER) and National Stock Exchange (NSE) from Gwalior.
  • On this occasion, Shri Tomar said that as a result of the hard work of farmer brothers and sisters and farmer friendly policies of the government, today India stands among the top two producers in the world in terms of most agricultural products.
  • He said that India’s organic products are in demand across the world and despite the adverse conditions like corona epidemic, agricultural exports from India touching Rs. 3.75 lakh crores is a good sign. In such a scenario, we must sustain the quality of our agricultural products and ensure it meets the global standards.
  • The conference on “Getting Agricultural Markets Right” has been organized jointly by ICRIER, one of the leading economic think tanks of the country, and the world’s largest exchange, – NSE. The chief guest, Union Minister Shri Tomar said that India is a country with diverse climate and there is a possibility of very favourable weather for farming.
Steps of India growing in the agriculture sector –
  • Our agriculture sector is very strong, which stands tall even in adverse conditions. Recently, even during the Covid crisis, when the whole world had almost come to a standstill, then despite the lockdown, all agricultural activities like sowing, harvesting, marketing etc. continued uninterrupted.
  • Indian agriculture sector is vast and a majority of our population depends on agriculture, so necessary changes have been made by the government for its progress and scholars also keep supporting the government through their suggestions, all of which will benefit the agriculture sector.
  • Several initiatives have been taken by government in the last 8 years for the development and management of agriculture. One thousand mandis across the country have been linked with the National Agricultural Market (e-NAM) and the process is on to connect the remaining mandis.
  • Efforts have been made by the Central Government to enable farmers to get remunerative prices for their produce and to adopt technology in agriculture.the work of setting up 10,000 Farmers Producer Organizations (FPOs) has started in the country with an expenditure of Rs 6,865 crore.
  • FPOs constitute about 85 percent of small farmers in the country. Under the umbrella of the FPOs, the farmers gain by expanding their area of ​​cultivation resulting in higher volumes of production, they also get better quality seeds and fertilizers and can avail convenient loans, all of which will increase the overall income of farmers and improve farming.
  • The government has arranged custom hiring centers at various places and farmers are also being given subsidy for agricultural implements. Earlier, the doors of private investment in the agriculture sector were often closed, but now efforts are being made to bring facilities like warehouses, cold storage, packaging machines etc. to the villages, for which the Center has earmarked a special package worth Rupees 1.5 lakh crore in agriculture and allied sectors.
  • Agriculture Infrastructure Fund (AIF) has been set up with an investment of more than Rs. One lakh crore, out of which loans worth about Rs. 9.5 thousand crore has been approved for about 13,000 projects so far, which will greatly benefit the farmers.
  • As the use of drones increases, it will not only benefit the farming, but it will also help avert the chemical side effects on farmers’ health and create new employment opportunities.
  • The government has launched several schemes for the benefit of farmers and they are being disbursed easy loans at low interest rates, the total amount of which is about Rs. 16 lakh crores at present.
  • Similarly, under the Pradhan Mantri Fasal Bima Yojana, claim amount totalling Rs 1.15 lakh crore so far has been given to the farmers as compensation for the loss of their crops. It is our endeavour that the productivity of farmers should increase, for this the government is taking continuous steps.
What is ICRIER?
  • ICRIER which is known as Indian Council for Research on International Economic Relations Established in August 1981, is an autonomous, policy-oriented, not-for-profit, economic policy think tank.
  • ICRIER’s main focus is to enhance the knowledge content of policy making by undertaking analytical research that is targeted at informing India’s policy makers and also at improving the interface with the global economy.

ICRIER conducts thematic research in the following eight thrust areas-

  • Macroeconomic Management Financial Liberalisation and Regulation
  • Global Competitiveness of the Indian Economy – Agriculture, Manufacturing and Services
  • Multilateral Trade Negotiations and FTAs
  • Challenges and Opportunities of Urbanization
  • Climate Change and Sustainable Development
  • Physical and Social Infrastructure including Telecom, Transport, Energy and Health
  • Asian Economic Integration with Focus on South Asia
  • Promoting Entrepreneurship and Skill Development
  • To effectively disseminate research findings, ICRIER organises workshops, seminars and conferences to bring together academicians, policymakers, representatives from industry and media to create a more informed understanding on issues of major policy interest.
  • ICRIER routinely invites distinguished scholars and policymakers from around the world to deliver public lectures and give seminars on economic themes of interest to contemporary India.

Mangarh Movement

Paper 1 – History
Why Should You Know?

NMA chairman Shri Tarun Vijay submits report to Shri Arjun Ram Meghwal on declaring  Mangarh hillock in Rajasthan  as a monument of National Importance.

In details –
  • A team from National Monuments Authority lead by Shri Tarun Vijay, Chairman, National Monuments Authority, submitted a report on declaring Mangarh hillock in Rajasthan as a monument of National Importance in the year of Azadi Ka Amrit Mahotsav, to Minister of State for Culture Shri Arjun Ram Meghwal at Indira Gandhi National Centre for Arts (IGNCA), New Delhi.
  • This report carries relevant details about the Mangarh hillock and recommendations by National Monuments Authority.
  • Minister of State for Culture Shri Arjun Ram Meghwal said that the unsung heroes and Mangarh hillock haven’t received the importance in history which they deserved.
  • He also said 1500 Bhil tribal freedom fighters were brutally killed by the British army on 17th November 1913. To pay our tribute to them , on the occasion of Azadi ka Amrit Mahotsav we will positively take forward the report submitted by NMA Chairperson, Shri Tarun Vijay. 
  • The Union Minister also added that our younger generation is unaware of their sacrifice and Mangarh hillock, it will be our responsibility to highlight significance of and provide information about Mangarh Hillock.
  • Mangarh, the hillock in Banswara District, Rajasthan was visited by Prime Minister Shri Narendra Modi  when he was Chief Minister of Gujarat and the local Bhil tribals had been demanding the Mangarh hills to be declared as National Monument.
What was Mangarh Movement ?
  • On 17 November 1913 , thousands of people of Bhil community were shot dead by the British government in Mangarh . This is what is called the Mangarh massacre. Locals attribute this incident to the Jallianwala Bagh massacre.
  • It is noteworthy that Amritsar ‘s Jallianwala Bagh massacre is discussed a lot in the freedom struggle of India ; But the Mangarh massacre was probably forgotten because the people who sacrificed in it were poor forest dwellers.
  • Mangarh is a hill station in Banswara district in Rajasthan . It also shares the borders of Madhya Pradesh and Gujarat. This whole area is forest dweller dominated. Mainly Bhil tribals live here. Local feudatories, princes and British exploited them by taking advantage of their illiteracy, simplicity and poverty.
  • To eradicate the evils and blind traditions spread in them , a big social and spiritual movement was held under the leadership of Govind Guru , which is called ‘ Bhagat Andolan ‘.
  • Govind Guru was born on December 20, 1858 in the village of Bansia (Bedia) in Dungarpur district.
  • The Bhagat movement was started by Govind Guru in the 1890s. Fire was considered a symbol in the movement. The followers had to stand in front of the fire and perform dhuni.
  • In 1883, he founded the ‘Sump Sabha’. By this he abstained from alcohol, meat, theft, adultery etc.; To live a simple life by working hard; Performing bath, yajna and kirtan daily.
  • He propagated in village-village sources like setting up schools, teaching children, resolving their disputes in Panchayats, not tolerating injustice, not paying rent to British pattu jagirdars, not doing forced labor and boycotting foreign goods and using Swadeshi.
  • Within no time lakhs of people became his devotees. Every year on Margashirsha Purnima, there was an annual fair of the assembly, in which people used to offer ghee and coconut while doing havan.
  • People used to bring ghee pots in their hands and their traditional weapons on their shoulders. Social and political problems were also discussed in the fair. Due to this, this forest dwelling area of ​​Vagad gradually started burning in the fire of opposition from the British government and the local feudal lords.
  • On November 17, 1913 (Margashirsha Purnima), an annual fair was to be held on the hill of Mangarh. Earlier, Govind Guru had written to the government urging the forest dwellers suffering from famine to reduce the tax being levied on agriculture, to allow them to follow religious traditions and not to harass them in the name of forced labor; But the administration surrounded the hill and installed machine guns and artillery.
  • After this he ordered Govind Guru to leave Mangarh hill immediately. By that time lakhs of Bhagats had come there. The police started firing under the leadership of Colonel Shutten, killing thousands of people. Their number is said to be up to 1,500.
  • The police arrested Govind Guru and sentenced him to death and then to life imprisonment. After getting released from jail in 1923, he continued to do various works of public service through Bhil Seva Sadan, Jhalod.
  • He died on 30 October 1931 in village Kamboi (Gujarat). Every year on Margashirsha Purnima, lakhs of people pay homage to him by coming to his samadhi built there.

MyGov Gujarat plateform

Paper 2 – Governance
Why Should You Know?

On July 6, 2022 MyGov Gujarat- The 18th MyGov State instance was launched.

In details –

MyGov Gujarat, the 18th MyGov state instance, has been launched on July 6. The citizen centric platform has been launched with 4 key objectives –

  1. Discussion Forum on Saving rainwater and sharing water saving tips.       
  2. Discussion Forum on Ease of Living through e Governance.                   
  3. Poll on Swachhtha Abhiyaan.                               
  4. Blogs on Digital Seva Setu.
  5. The MyGov Gujarat platform shall empower 6.67 crore Gujaratis to contribute even more, towards nation building.
  6. MyGov, the world’s largest citizen engagement platform, was launched by Prime Minister Shri Narendra Modi  on 26th July 2014 with the idea of bringing the Government closer to the common man.
  7. MyGov has evolved into a platform that allows citizens to contribute ideas and suggestions and make participative governance a reality.
  8. Today, there are more than 2.5 crore registered users on the MyGov platform – MyGovSaathis, who actively share ideas and suggestions on various policy issues, and also participate in multiple activities like Quiz Contests, Hackathons, Contests relating to government schemes and programs.
  9. MyGov is also present on almost all social media platforms popular with Indian youth, especially from the far-flung corners of our great country; they played a key role during Covid, supporting MyGov.in by disseminating correct and timely information.
  10. Our homegrown chatbot, MyGov Helpdesk, is extremely popular with young and old alike and is integrated with many govt services including Cowin and recently, the Digilocker app.
  11. To echo the Prime Minister’s words a few days back, “Digital India has empowered people by making technology more accessible.”

 Akhil Bharatiya Shiksha Samagam

Paper 2 – Education
Why Should You Know?

Prime Minister shri Narendra modi is going to inaugurate Akhil Bharatiya Shiksha Samagam in Varanasi today( i.e. 7 july 2022)

In details –
  • Prime Minister Narendra Modi will inaugurate the Akhil Bharatiya Shiksha Samagam at Varanasi.
  • The Samagam is being organized by the Education Ministry in association with University Grants Commission and Banaras Hindu University.
  • The three-day event will bring together over 300 Vice-Chancellors and Directors from public and private universities, educationists, policymakers, as also industry representatives to deliberate on how the implementation of National Education Policy-2020 can be taken further across the country after successful implementation of several initiatives in the last two years.
  • Uttar Pradesh Governor Anandiben Patel, Chief Minister Yogi Adityanath, and Union Education Minister Dharmendra Pradhan will also attend.
  • The summit will provide a platform for leading Indian Higher Educational Institutions to discuss, deliberate, and share insights on strategies, success stories, and best practices in implementing the National Education Policy-2020.
  • The key highlight of the Akhil Bharatiya Shiksha Samagam will be the adoption of the Varanasi Declaration on Higher Education which will showcase India’s extended vision and a renewed commitment to help achieve the goals of higher education system.

Hariyali Mahotsav

Paper 3- Environment
Why Should You Know?

on 8th July, 2022 “HariyaliMahotsav” to be organized by Ministry of Environment, Forest & Climate Change.

In details –
  • Ministry of Environment, Forest & Climate Change will be organizing “Hariyali Mahotsav” on 8th July, 2022 at Talkatora Stadium, New Delhi in the spirit of “Azadi Ka Amrit Mahotsav”.
  • in sustaining not only the life of the present generations but also to secure the future of forthcoming generations. Trees play extremely important role in mitigating adverse effects of climate change.
  • This Mahotsav is perceived as an effective tool to instill enthusiasm among masses for forest conservation and planting trees. It holds immense importance in complementing the policy and program initiatives of the government towards environmental conservation.
  • Hariyali Mahotsav is celebrated across the country in recognition of the crucial role of Forest/Greenery in maintaining the ecological balance and providing many ecosystem services to the planet.
  • in collaboration with the State Governments, Police Institutions and Schools of Delhi for undertaking plantation drives on the occasion.
  • Ceremonial Plantation drives are being organized with participation of 75 Nagar Vans throughout the country, 75 Police Stations and 75 Schools in Delhi/NCR and 75 degraded plantation sites in the different states as part of this Mahotsav.
  • The event would be graced by Union Minister of Environment, Forest & Climate Change and Labour & Employment, Shri Bhupender Yadav, Union Minister of Petroleum & Natural Gas and Housing & Urban Affairs, Shri Hardeep Singh Puri, Union Minister of State for Environment, Forest and Climate Change and Consumer Affairs, Food and Public Distribution, Shri Ashwini Kumar Choubey and Lieutenant Governor, GNCTD, Shri Vinai Kumar Saxena.

India’s first ever Animal Health Summit

Paper 2 – Health
Why Should You Know?

Shri Parshottam Rupala, Union Minister of Fisheries, Animal Husbandry and Dairying inaugurates India’s first ever Animal Health Summit.

In details –
  • inaugurated by Parshottam Rupala, Union Minister of Fisheries, Animal Husbandry and Dairying on July 6, 2022 wherein he said that there is need to strengthen the cooperative movement in the livestock sector.
  • was held at NASC Complex, New Delhi understanding the significance of animal health towards the broader objective of the country’s food and nutrition security, rural incomes and prosperity and overall economic development.
  • Shri Rupala was the chief guest at the inaugural function of ‘India Animal Health Summit 2022’ organized by Indian Chamber of Food and Agriculture (ICFA) and the Agriculture Today Group. He said that by ensuring good animal health, veterinarians are playing a very significant role. Shri Rupala called for suggestions from the general public on the initiatives that can be taken to give due recognition to the work of veterinarians in serving the nation.
  • The two-day event will host a plethora of panel discussions ranging from topics such as Animal Health policy initiatives to Business environment & investment opportunities in the Animal Health sector. The deliberations evolved will later be documented and presented to authorities.
About Indian Chamber of Food and Agriculture –
  • Indian Chamber of Food and Agriculture is the apex body in India, working on business, policy and development agenda and serving as global platform for trade facilitation, partnerships, technology and agribusiness services.
  • A proactive approach helps ICFA in discerning critical challenges emerging in Indian agriculture along with creating opportunities for development, value addition and international trade to accelerate growth in food and agriculture sector globally.
  • With its 27 industry Working Groups and sector specific Business Councils, ICFA represents the interests of key stakeholders at the national level and through its international platforms and partnerships, ICFA facilitates India’s global engagement in food and agriculture sector.

Rapidly charging E-cycle

Paper 3 – Science & Technology
Why Should You Know?

Recently Scientists developed a Rapidly charging E-cycle developed with Na-ion batteries and supercapacitors.

In details –
  • Scientists have used nano-materials to develop Na-ion-based batteries and supercapacitors, which can be rapidly charged and have integrated them in e-cycles. The low-cost Na-ion-based technologies would be cheap and are expected to reduce the cost of the e-cycles significantly.
  • Sodium-ion (Na-ion) batteries have triggered academic and commercial interest as a possible complementary technology to lithium-ion batteries because of the high natural abundance of sodium and the consequent low costs of Na-ion batteries.
  • Professor in the Department of Physics at the Indian Institute of Technology Kharagpur,  Dr. Amreesh Chandra, has been researching to develop energy storage technologies, which are based on Na-ion, and his team has developed a large number of nanomaterials.
  • The team has used sodium iron phosphates and sodium manganese phosphates which they synthesized to obtain Na-ion-based batteries and supercapacitors with support from the Technology Mission Division (TMD) of the Department of Science and Technology (DST), Government of India.
  • These sodium materials were combined with various novel architectures of carbon to develop a battery.
Cheap in cost –
  • These sodium materials are cheaper than Li-based materials, high performing, and can be scaled up to industrial-level production.
  • The Na-ion cell can also be totally discharged to zero volt, similar to a capacitor, making it a safer option in comparison to many other storage technologies.
  • Taking advantage of the fact that Na-ion batteries can be charged rapidly, Dr. Amreesh has integrated it in e-cycles – an easy, affordable option for the general public.
  • With further development, the price of these vehicles can be brought down to the range of Rs. 10-15 K, making them nearly 25% cheaper than Li-ion storage technologies-based e-cycles.
  • As disposal strategies of Na-ion-based batteries would be simpler, it can also help in addressing the climate mitigation issue. The research on the Supercapacitors was published in the Journal of Power Sources, and a few patents are in the pipeline on the use of these Na-ion-based batteries in e-cycles.
  • This research activity was funded under the DST’s Materials for Energy Storage scheme.

Nominated member of Rajya Sabha

Paper 2 – Constitution
Why Should You Know?

Recently some members were nominated in the Rajya Sabha, let’s know about it.

In details –
  • Veteran athlete P.T. Usha and legendary music composer Ilaiyaraaja were nominated to the Rajya Sabha on July 5, 2022.
  • Along with this, social worker and administrator of Dharmasthala temple Virendra Hegde and famous screenwriter and director V. Vijayendra Prasad were also nominated to the Upper House of Parliament.
  • Prime Minister Narendra Modi congratulated all the celebrities on being nominated to the Rajya Sabha.
  • Originally from Kerala, PT Usha had missed out on a bronze medal in the 400m hurdles at the 1984 Olympic Games in Los Angeles. In the Asian Games held in Seoul in 1986, PT Usha won five medals including four gold and one silver medal. He had won all the four gold medals by breaking the Asian record.
  • It is noteworthy that Sachin Tendulkar became the first player from the field of sports to be nominated to the Rajya Sabha. Before the nomination of Sachin Tendulkar, there was no provision to send people from the field of sports to the Rajya Sabha, but after him, Olympic medalist boxer MC Mary Kom was also nominated to the Rajya Sabha.
Members of Rajya Sabha –
  • Rajya Sabha is the upper representative assembly of Indian democracy. Lok Sabha is the lower House of Representatives.
  • Article 80 of the Indian Constitution provides for the constitution of the Rajya Sabha.
  • According to this, the maximum number of members of the Rajya Sabha can be 250, which is 245 at present.
  • Out of these, 233 members are elected by the members of the Legislative Assembly. The 12 members are elected by the President.
  • People are nominated to the Rajya Sabha for their distinguished contribution to the arts, literature, knowledge, sports and social services.
  • The nominated members of the Rajya Sabha represent the country, not any state. These members cannot vote in the election of the President.
  • It is noteworthy that The Vice President of India is the Chairman of the Rajya Sabha. The first session of the Rajya Sabha was held on 13 May 1952.

 Vice President of India

Paper 2 – Constitution
Why Should You Know?

On July 5, 2022 The Election Commission of India issued the notification for the election of the Vice President of India.

In details –
  • The Election Commission of India issued the notification for the election of the Vice President of India.
  • It is noteworthy that The term of office of Vice President M Venkaiah Naidu comes to an end on August 10.
  • The election is scheduled for August 6, and July 19 is the last date for filing nominations.
  • Neither the NDA nor the Opposition have announced their candidate yet, but Minority Affairs Minister Mukhtar Abbas Naqvi and Steel Minister RCP Singh resigned from their posts on July 6), triggering speculation that Naqvi, in particular, could be the government’s nominee for the election. Another name doing the rounds is that of Kerala Governor Arif Mohammad Khan.
Office of the Vice President
  • Article 63 of the Constitution states that “there shall be a Vice-President of India”. Under Article 64, the Vice-President “shall be ex officio Chairman of the Council of the States” (Rajya Sabha).
  • Article 65 says that “in the event of the occurrence of any vacancy in the office of the President by reason of his death, resignation or removal, or otherwise, the Vice-President shall act as President until the date on which a new President…enters upon his office”.
  • The Vice-President shall also discharge the functions of the President when the latter is unable to do so “owing to absence, illness or any other cause”.
  • During this period, the Vice-President shall “have all the powers and immunities of the President and be entitled to… (the) emoluments, allowances and privileges” that are due to the President. The office of the Vice-President of India is the second-highest constitutional office after that of the President, and ranks second in the order of precedence.
Election of the Vice-President
  • Article 66 lays down the process of the election of the Vice-President.
  • It says the Vice-President “shall be elected by the members of an electoral college consisting of the members of both Houses of Parliament in accordance with the system of proportional representation by means of the single transferable vote and the voting at such election shall be by secret ballot”.
  • For the 16th Vice-Presidential Election, 2022, the Electoral College consists of 233 elected members of Rajya Sabha, 12 nominated members of Rajya Sabha, and 543 elected members of Lok Sabha, adding up to 788 members. In the system of proportional representation by means of the single transferable vote, the elector has to mark preferences against the names of the candidates.
  • “Preference can be marked in the international form of Indian numerals, in Roman form, or in the form in any recognised Indian languages… The elector can mark as many preferences as the number of candidates. While the marking of the first preference is compulsory for the ballot paper to be valid, other preferences are optional,” the Election Commission of India said in a release issued on June 29.
  • Under the Constitution, the Vice-President “shall not be a member of either House of Parliament or of a House of the Legislature of any State”. If a member of any of these Houses is elected to the post, “he shall be deemed to have vacated his seat in that House on the date on which he enters upon his office as Vice-President”.
Eligibility and term of office

Article 66(3) says “No person shall be eligible for election as Vice-President unless he —

(a) is a citizen of India;

(b) has completed the age of thirty-five years; and

(c) is qualified for election as a member of the Council of States”.

  • Under Article 66(4), “A person shall not be eligible for election as Vice-President if he holds any office of profit under the Government of India or the Government of any State or under any local or other authority subject to the control of any of the said Governments.”
  • Article 67 lays down that the “Vice-President shall hold office for a term of five years from the date on which he enters upon his office”. However, the Vice-President “shall, notwithstanding the expiration of his term, continue to hold office until his successor enters upon his office”.
  • The Vice-President may leave office before the end of his term by resigning to the President, or he “may be removed…by a resolution of the Council of States passed by a majority of all the then members of the Council and agreed to by the House of the People”.
Election disputes –
  • Article 71 of the Constitution deals with “Matters relating to, or connected with, the election of a President or Vice-President”. It says that “all doubts and disputes arising out of or in connection with the election of a President or Vice-President shall be inquired into and decided by the Supreme Court whose decision shall be final”.
  • Should the Supreme Court declare the election of the President or Vice-President void however, “acts done by him in the exercise and performance of the powers and duties of the office of President or Vice-President,…on or before the date of the decision of the Supreme Court shall not be invalidated by reason of that declaration”.
  • Also, “Parliament may by law regulate any matter relating to or connected with the election of a President or Vice-President”.

 India’s service sector registers highest growth

Paper 3 – Economy
Why Should You Know?

India’s services sector activity records highest growth in 11 years in June 2022.

In details –
  • The country’s service sector recorded the fastest growth in the month of June as compared to the last 11 years.
  • According to the International Rating Agency Standard & Poor’s Global’s Purchasing Management Index – PMI Survey, India’s service sector activity improved in the month of June.
  • The PMI index rose from 58 decimal 9 in May to 59 decimal 2 in June, the highest level since April 2011.
  • A PMI figure above 50 indicates expansion, while a figure below it indicates contraction.
  • Post-pandemic growth was driven by improved demand, capacity expansion and favorable economic conditions. In the meantime, companies received new orders, despite charging higher fees for their services.
  • The June figures also show a sharp increase in selling prices since July 2017. During this time the companies shifted the burden of their additional cost to the customers.
What is service sector ?
  • The first economic sector, the primary sector, covers the farming, mining, and agricultural business activities in the economy. The secondary sector covers manufacturing and business activities that facilitate the production of tangible goods from the raw materials produced by the primary sector.
  • The service sector, though classified as the third economic sector, is responsible for the largest portion of the global economy’s business activity.
  • Instead of product production, this sector produces services maintenance and repairs, training, or consulting.
  • The tertiary sector involves the provision of services to other businesses as well as to final consumers. Services may involve the transport, distribution and sale of goods from a producer to a consumer, as may happen in wholesaling and retailing, pest control or entertainment.
  • The goods may be transformed in the process of providing the service, as happens in the restaurant industry. However, the focus is on people by interacting with them and serving the customers rather than transforming the physical goods.

 


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