Over the years, there have been changes in structure of investment in terms of industry of use. Table 3.5 shows the changes in the share of investment of different productive sectors (the 3-sector classification of the economy further broken down into the 9-sector 1-digit classification as per NIC-1987) in India between 1950-51 and 2004-05.There are several factors contributing towards these shifts in the industry shares. First, as observed earlier, with economic development there will be shift in the productive sectors in overall national product and income generation. For instance, the share of agriculture and primary sector in general declines in the national product, while the share of industry and service sector increases. These shifts are also reflected in the changing structure of investments. Second, with development process, industries with higher capital intensity like energy and manufacturing are likely to attract more investment. Third, there are policy induced priorities which may shift investment away from some sectors. For instance, neglect of agriculture in policy priorities may lead to decline in its investment share. Further, like shifts in the share of investments among productive sectors, there may also be shift in the relative share of investments in public and private sectors. For instance, economic reforms and diminished role of state in productive sectors has brought about decline in the share of public investment, compared to the share of private investment which increased substantially (vide Table 3.4).