摘要：The mechanized system of development has now paved ways for social-economic transformation which has made possible an increase in the level of disposable income. When we earn more, we like to spend more. We take interest in utilizing our leisure time and availing the modern amenities and facilities. These are provided by service sector. A service is an activity or benefit that one party can offer to another and does not result in ownership of anything. Services are intangible activities which provide want satisfaction. Each type of service is intangible and perishable. It cannot be separated from the provider and hence while selling of services ownership is not transferred to the buyer. Because of these decent characteristics service industry defers from manufacturing industry. But it is helpful for the development of manufacturing industry. In the present world the service sector is growing at a very fast rate. Services sector has become important for many economies in the world and very important particularly for India. it is important to accelerate the growth of industrial sector particularly manufacturing sector to catch up with the growth of services sector and maintain a decent and stable growth of agricultural sector.
