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Read the following hypothetical text and answer question that follow:
India’s Micro, Small and Medium Enterprises (MSME) sector is poised for a mega transformation in 2020, with the launch of an Alibaba-like e-marketplace, trendy yet affordable khadi products to appeal to the masses and digital data-based credit ratings to help entrepreneurs avail loans. However, the MSME sector is often considered the bulwark of the economy as it contributes around 29% to the GDP and 48% to the Indian exports. There is an urgent need of major reforms and policy interventions towards ensuring timely availability of low-cost credit, improving ease of doing business and technological upgradation, to take on the formidable challenge of creating millions of jobs, ensure equitable distribution of national income and achieving large-scale import substitution. The World Bank has recently approved loan worth $750 million to address the immediate liquidity and credit needs of India’s MSME sector that has been severely impacted by the Covid-19 crisis. This will give a push to the Atmanirbhar Bharat vision of the government.
Q. _______________ are the largest employer of the labour force in India.
  • a)
    Agricultural Sector
  • b)
    Small Scale Industries
  • c)
    Cottage Industries
  • d)
    Service Sector
Correct answer is option 'A'. Can you explain this answer?
Verified Answer
Read the following hypothetical text and answer question that follow:...
The agricultural sector is the largest employer in the Indian economy. Nearly 51% of the population is engaged in this section in one way or the other.
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Most Upvoted Answer
Read the following hypothetical text and answer question that follow:...
Explanation:

Agricultural Sector:
- The agricultural sector is the largest employer of the labor force in India.
- It employs a significant portion of the population, especially in rural areas.
- Agriculture continues to be a key sector for employment generation in India.

Small Scale Industries:
- While small scale industries also play a crucial role in providing employment opportunities, the agricultural sector employs a larger share of the labor force.
- Small scale industries, including MSMEs, contribute significantly to the economy but may not necessarily employ as many people as the agricultural sector.

Cottage Industries:
- Cottage industries are typically small-scale industries operated from home or small workshops.
- While they do provide employment opportunities, they may not employ as many people as the agricultural sector.

Service Sector:
- The service sector includes a wide range of industries such as IT, hospitality, healthcare, and more.
- While the service sector is growing and contributing to the economy, it may not employ as many people as the agricultural sector in India.
Therefore, based on the context provided in the text, the correct answer is option 'A) Agricultural Sector' as it is the largest employer of the labor force in India.
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Read the following hypothetical text and answer question that follow:India’s Micro, Small and Medium Enterprises (MSME) sector is poised for a mega transformation in 2020, with the launch of an Alibaba-like e-marketplace, trendy yet affordable khadi products to appeal to the masses and digital data-based credit ratings to help entrepreneurs avail loans. However, the MSME sector is often considered the bulwark of the economy as it contributes around 29% to the GDP and 48% to the Indian exports. There is an urgent need of major reforms and policy interventions towards ensuring timely availability of low-cost credit, improving ease of doing business and technological upgradation, to take on the formidable challenge of creating millions of jobs, ensure equitable distribution of national income and achieving large-scale import substitution. The World Bank has recently approved loan worth $750 million to address the immediate liquidity and credit needs of India’s MSME sector that has been severely impacted by the Covid-19 crisis. This will give a push to the Atmanirbhar Bharat vision of the government.Q. _______________ are the largest employer of the labour force in India.a)Agricultural Sectorb)Small Scale Industriesc)Cottage Industriesd)Service SectorCorrect answer is option 'A'. Can you explain this answer?
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Read the following hypothetical text and answer question that follow:India’s Micro, Small and Medium Enterprises (MSME) sector is poised for a mega transformation in 2020, with the launch of an Alibaba-like e-marketplace, trendy yet affordable khadi products to appeal to the masses and digital data-based credit ratings to help entrepreneurs avail loans. However, the MSME sector is often considered the bulwark of the economy as it contributes around 29% to the GDP and 48% to the Indian exports. There is an urgent need of major reforms and policy interventions towards ensuring timely availability of low-cost credit, improving ease of doing business and technological upgradation, to take on the formidable challenge of creating millions of jobs, ensure equitable distribution of national income and achieving large-scale import substitution. The World Bank has recently approved loan worth $750 million to address the immediate liquidity and credit needs of India’s MSME sector that has been severely impacted by the Covid-19 crisis. This will give a push to the Atmanirbhar Bharat vision of the government.Q. _______________ are the largest employer of the labour force in India.a)Agricultural Sectorb)Small Scale Industriesc)Cottage Industriesd)Service SectorCorrect answer is option 'A'. Can you explain this answer? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Read the following hypothetical text and answer question that follow:India’s Micro, Small and Medium Enterprises (MSME) sector is poised for a mega transformation in 2020, with the launch of an Alibaba-like e-marketplace, trendy yet affordable khadi products to appeal to the masses and digital data-based credit ratings to help entrepreneurs avail loans. However, the MSME sector is often considered the bulwark of the economy as it contributes around 29% to the GDP and 48% to the Indian exports. There is an urgent need of major reforms and policy interventions towards ensuring timely availability of low-cost credit, improving ease of doing business and technological upgradation, to take on the formidable challenge of creating millions of jobs, ensure equitable distribution of national income and achieving large-scale import substitution. The World Bank has recently approved loan worth $750 million to address the immediate liquidity and credit needs of India’s MSME sector that has been severely impacted by the Covid-19 crisis. This will give a push to the Atmanirbhar Bharat vision of the government.Q. _______________ are the largest employer of the labour force in India.a)Agricultural Sectorb)Small Scale Industriesc)Cottage Industriesd)Service SectorCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Read the following hypothetical text and answer question that follow:India’s Micro, Small and Medium Enterprises (MSME) sector is poised for a mega transformation in 2020, with the launch of an Alibaba-like e-marketplace, trendy yet affordable khadi products to appeal to the masses and digital data-based credit ratings to help entrepreneurs avail loans. However, the MSME sector is often considered the bulwark of the economy as it contributes around 29% to the GDP and 48% to the Indian exports. There is an urgent need of major reforms and policy interventions towards ensuring timely availability of low-cost credit, improving ease of doing business and technological upgradation, to take on the formidable challenge of creating millions of jobs, ensure equitable distribution of national income and achieving large-scale import substitution. The World Bank has recently approved loan worth $750 million to address the immediate liquidity and credit needs of India’s MSME sector that has been severely impacted by the Covid-19 crisis. This will give a push to the Atmanirbhar Bharat vision of the government.Q. _______________ are the largest employer of the labour force in India.a)Agricultural Sectorb)Small Scale Industriesc)Cottage Industriesd)Service SectorCorrect answer is option 'A'. Can you explain this answer?.
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