10th Indian Economy

INDIAN ECONOMY AFTER INDEPENDENCE

I. CHOOSE THE CORRECT ANSWER:

1. Five Year plan in India was borrowed from Soviet Russia

2. Eleventh Five Year Plan Period is 2007-2012

3. Chairman of Planning commission of India is Prime Minister of India

4. Planning Commission of India was setup in the year 1950

5. Nehru decided that India would be a Mixed Economy

6. Green Revolution was introduced in the year 1967

7. Bhoodan Movement was started by Acharya Vinobhabhave

8. Which year has a special significance in Indian Economy? 1991

9. The organization which is responsible for research and development in the area of Satellite and Communication is ISRO

10. As per 2001 census the literacy rate in India is 64.8%

II. Short answer:

1. Write any three objectives of Eleventh Five year plan.

Objectives of Eleventh Five year plan

  • To reduce the subsidies in power, fertilizer.
  • Promoting agricultural research.
  • To ensure environmental protection.
  • Larger employment opportunities.
  • To develop rural infrastructure.

2. Write a note on Green Revolution.

Green Revolution

Green revolution was introduced in the year 1967.

The Indian Council of Agricultural Research (ICAR) introduced high Yielding Variety (HYV) seeds

Increase the agricultural production with improved irrigation facilities.

3. What is Mixed Economy?

Mixed economy in which public and private sectors would co exists.

4. What is Multi National Corporation?

Multi-National Corporations (MNC) are business firms operating in several countries but centrally managed from one (home) country.

5. Write a note on cottage Industries.

Cottage industries are household industries depending on local market and production is of primitive methods. Example: – Coir industries.

6. Write a note on Liberalization

Liberalization means movement towards a free market system.

Withdrawal of regulation and restrictions.

Private sectors are encouraged to enter into core industries.

7. What is Privatization?

Privatization means transforming all economic activities from public sector to private sector. It refers to the setting up of private units in public utility services.

8. What do you mean by Globalization?

Globalization means country draw raw materials from any source of the world and manufacture goods and services. Finished goods find a place in global market is the linkage of nation’s markets with global markets.

III. Detail:

1. Write down the Objectives of Eleventh Five year plan.

Objectives Eleventh Five Year Plan (2007-2012):-

Increasing the public investment in irrigation, rural electrification and rural roads.

  • To reduce the subsidies in power, fertilizer.
  • Promoting agricultural research.
  • To ensure environmental protection.
  • Larger employment opportunities.
  • To develop rural infrastructure.
  • To abolish poverty.
  • To reduce the dropout rate in primary schools

2. Explain Green Revolution.

  • Green revolution was introduced in the year 1967.
  • The Indian Council of Agricultural Research (ICAR) introduced high Yielding Variety (HYV) seeds to increase the agricultural production with improved irrigation facilities.

Land Reforms:-

  • The government initiated land reform measures like land ceiling and tenancy legislation.
  • The Bhoodhan movement started by Vinobhavbhave deserves a mention.
  • Through the Bhoodhan movement millions of acres of land were received from the landlords and distributed to the landless poor.

High Yielding Variety seeds program:-

  • The green revolution largely means increasing production by the use of High Yielding Variety seeds.
  • This enabled India to achieve self-sufficiency in food grain production.
  • The credit goes to Indian Council of Agriculture Research in India particularly Ludhiana, Pantnagar (UP) and Coimbatore.

3. Explain Economic Reforms of 1991.

Economic Reforms of 1991:-

  • The year 1991 has a special significance in the Indian economy.
  • The economic reforms aimed at rapid industrialization.

Multi-National Corporations (MNC):-

  • Multi-National corporations (MNC) are business firms operating in several countries but centrally managed from one (home) country.

Cottage industries:-

  • Cottage industries are household industries depending on local market and production is of primitive methods. Example: – Coir industries.

Liberalization:-

  • Liberalization means movement towards a free market system.
  • Withdrawal of regulation and restrictions.
  • Private sectors are encouraged to enter into core industries.

Privatization:-

  • Privatization means transforming all economic activities from public sector to private sector. It refers to the setting up of private units in public utility services.

Globalization:-

  • Globalization means country draw raw materials from any source of the world and manufacture goods and services. Finished goods find a place in global market is the linkage of nation’s markets with global markets.

4. Explain the various Power Programs in Tamil Nadu

The important power stations in Tamil nadu are listed below:-

Thermal power:-

Thermal power stations are in Ennore, Tuticorin, Mettur, Basin Bridge and Neyveli.

Hydel power:-

Hydel power stations are in Mettur, Kundah, Periyar Dam, Kothayar Dam, Pykara, Singara and Moyar.

Atomic Energy:-

Atomic power stations are in Kalpakkam and Koodangulam.

Wind Energy:-

It is a non-conventional form of energy. The wind mills are situated in Coimbatore, Kanyakumari, Tuticorin, Ramanathapuram and Tirunelveli.

Biomass Energy:-

This is another kind of non-conventional energy. This kind of electricity is produced in Namakkal and Dharmapuri Districts.

10th Indian Economy

National Income

I. Choose the correct answer:

1. National Income is otherwise called Gross National Product

2. National income of a country can be calculated by 3 methods

3. Net National Product = GNP – Depreciation

4. India’s Per capita income is 950 dollars

5. Primary sector consists of Agriculture

6. National Income is a measure of Total value of goods & services

7. Expenditure method estimates national income from the Savings side

8. Income method sums all forms of Income

9. Percapita Income is an indicator of Living Standard of people

10. Primary sector contribution to national income in India is 15.8%

II. Write short notes on the following:

1. Define National income.

Definition of National Income

“National Income is a measure of the total value of goods and services produced by an economy over a period of time, normally a year”. Commonly National Income is called as Gross National Product or National Dividend.

2. How you arrive at NNP?

Net National Product (NNP)

Net National Product is arrived by making some adjustment with regard to depreciation. That is we arrive the NNP by deducting the value of depreciation from Gross National Products (GNP)

NNP= GNP (-) Depreciation

3. Write a note on Income method.

In this method, the Income and Payments received by all the people in the country are calculated.

4. What is Percapita Income?

Percapita Income (PCI)

Percapita Income is an indicator to show the living standard of people in a country.

It is obtained by dividing the national income by the population of a country.

Percapita Income = National Income / Population

5. Write any two needs for the study of National Income

Need for the study of National Income:-

  • To measure the size of the economy and economic performance.
  • To measure the production of goods and services.
  • To trace the trend of the economic growth of our country in relation other countries.

6. What is tertiary sector?

Tertiary sector is service sector

Tertiary sector includes trade, hotel, industry, transport, storage, communication, finance, insurance, real estate and social services.

7. What is Laissez – faire?

Laissez-faire means non-intervention by the government.

The government was more or less a police state.

Government functions catering to the needs of the people.

8. Write a note on the Protective functions of modern welfare state.

Protective functions:-

  • Economic development can be achieved only if there is peace in the state.
  • Government is to maintain law and order.
  • Protecting the people from external aggression and internal disorder.

9. Define Gross Domestic Product.

Gross Domestic Product (GDP)

Gross Domestic Product is the total value of output (goods and services) produced by the factors of production within the geographical boundaries of the country.

10. What is net Domestic Product?

Net Domestic Product (NDP)

Net Domestic Product is part of Gross Domestic product. Net Domestic Product is obtained from the Gross Domestic Product by deducting the quantum of tear and wear expenses (depreciation).

III. Write in a paragraph:

1. Explain two basic concepts of National Income.

Net National Product (NNP):-

Net National Product is arrived by making some adjustment with regard to depreciation. That is, we arrive NNP by deducting the value of depreciation from Gross Domestic Product.

NNP = GNP (-) Depreciation

Gross Domestic Product (GDP):-

Gross Domestic Product is the total value of output (goods and services) produced by the factor of production within the geographical boundaries of the country.

Percapita Income (PCI):-

Percapita Income is an indicator to show the living standard of people in a country.

It is obtained by dividing the National Income by the population of a country.

Percapita Income = National Income/Population

2. Explain the need for the study of National Income.

Need for the study of National Income:-

  • To measure the size of the economy and economic performance.
  • To measure the production of goods and services .
  • To trace the trend of the economic growth of our country in relation other countries.
  • To know the contribution of primary, secondary and tertiary sector in the National Income.
  • To help Government, to formulate development plans and policies to increase economic growth.

3. Explain the methods of calculating National Income.

Method of calculating National Income:-

Product method:-

In this method the total value of all goods and services produced in a country is taken into account.

Income method:-

In this method, the income and payments received by all the people in the country are calculated.

Expenditure method:-

In this method we add up the expenditure of all people on consumer goods, investment and saving.

4 Write about the Functions of Modern Welfare State.

Functions of Modern welfare state:-

Protective functions:-

Economic development can be achieved only if there is peace in the state.

Government is to maintain law and order.

Protecting the people from external aggression and internal disorder.

The Administrative functions:-

The three important wings of the state are legislature, Executive and Judiciary.

Social Security functions:-

The government undertakes social security measures by offering relief to the poor, sick and the unemployed.

Economic functions:-

The government takes various measures to improve agriculture and develop trade and industry.

10th Indian Economy

EUROPEAN UNION

I. CHOOSE THE CORRECT ANSWER:

1. European Union traces its origin from the ECSC

2. EURATOM was established by the Treaty of Rome

3. The council of the European Union is sometimes referred to as the Council of Ministers

4. The first permanent President of the European Council is Herman Van Rampay

5. The name of the Single European Currency Euro

6. Euro zones monetary policy is governed by European Central Bank

7. The EU has established a strong relationship with the UNO

II. MATCH THE FOLLOWING:

1. Merger Treaty  1967
2. EURO  2002
3. Robert Schuman  French foreign minister
4. Jean Monnet  French Politician
5. EU budget  Court of Auditors

III. ANSWER THE FOLLOWING IN BRIEF:

1. Mention the initial member countries of the EU.

The initial member countries of the EU are Belgium, France, Italy, Luxemburg, Netherlands and West Germany.

2. What are the principal objectives of the EU?

The principal objectives of the EU

  • To establish European citizenship,
  • To promote social progress,
  • To ensure civil rights,
  • To promote security and ensure justice.

3. What are the organs of the EU?

The organs of the EU

  • European Parliament
  • Council of the European Union
  • European Commission
  • Court of Justice
  • Court of Auditors

4. Write a brief note on the European Parliament.

Note on the European Parliament

  • It is the legislative body of the European Union.
  • Its members are elected directly by the citizens of the member countries.
  • It currently consists of 736 members elected for five years term.

5. Mention the main functions of the Court of Justice.

The main functions of the Court of Justice

  • It is located in Luxemburg. It has fifteen judges.
  • It determines treaties implemented accordance with Union law.
  • Its judgments and EU law as a whole are binding on all member states.

6. What is the significance of the EURO?

The significance of the EURO

  • The Euro is the name of the single European currency that was put into circulation on January 1, 2002.
  • The symbol of the Euro is €.
  • Euro eliminated the foreign exchange hurdles and promotes free trade policy.

IV. Headings:

1. ORGANS OF THE EU

[a] Which is the Legislative body of the EU?

[b] What is the function of the European Commission?

[c] Where is the seat of the Court of Justice?

[d] Who is responsible for the foreign exchange operation?

2. ACHIEVEMENTS OF THE EU

[a] What is the symbol of the Euro?

The symbol of the Euro is €.

[b] What did the Euro Eliminated?

Euro eliminated the foreign exchange hurdles and promotes free trade policy.

[c] How many members are there in the EU at present?

28.

[d] Who allocates funds to European research projects?

V. Detail:

1. What are the achievements of the European Union?

Achievements of the EU:-

The EU has developed a single market through a standardized systems.

Single Market:-

It ensures the free movement of people, goods, and services.

Common Foreign and security policy:-

EU enacts treaties in justice and home affairs with countries.

The representation of EU at the world Trade organization, G-8, G-20 is maintained.

Single currency:-

European currency the Euro was put into circulation on January, 2002. The symbol of the Euro is €.

Euro eliminated foreign exchange hurdles promotes free trade policy.

Enlargement of EU:-

Enlargement of EU from the original six to the present day 27.

Scientific Research:-

The independent European Research Council allocates funds to European or national research projects stimulate research.