Chapter 15 Features of Indian Economy and its Trends

Rajasthan Board RBSE Class 10 Social Science Solutions Chapter 15 Features of Indian Economy and its Trends.

In this article we will discuss short question, very short question and long question and answers of the Chapter 15 Features of Indian Economy and its Trends.

Rajasthan Board RBSE Class 10 Social Science Solutions Chapter 15 Features of Indian Economy and its Trends

Features of Indian Economy and its Trends Very Short Answer Questions

Question 1.
What was India’s per capita income in year 2015?
Answer:
India’s per capita income in year 2015 was 1590 $.

Question 2.
Standard of living is measured by which factors?
Answer:
Standard of living is mainly measured by health and education.

Question 3.
How much percentage of India’s labour force was engaged in agriculture at the time of independence?
Answer:
At the time of independence around 72% of the population was engaged in agriculture.

Question 4.
What was the rate of growth of population of India in 2001-2011?
Answer:
The rate of growth of population of India in 2001-2011 was 17.64%.

Question 5.
Human development report is prepared by which organization?
Answer:
Human development report is prepared by United Nations.

Question 6.
When were economic reforms implemented by government of India?
Answer:
Economic reforms were implemented in year 1991.

Question 7.
What do you mean by liberalization?
Answer:
It refers to the process of simplifying economic policies, rules and regulations. Or removal of unwanted controls and restrictions.

Question 8.
What is the meaning of Privatization?
Answer:
Increase in the role of private sector in the economy is called as privatization. Under it, private sector is given more opportunity and role of public sector is decreased.

Question 9.
What do you mean by globalization?
Answer:
Globalization refers to integrating domestic economy with the global economy. It is a process in which national economy is expanded beyond the political territory. Various aspects of globalization includes free movement of goods, services, capital, labour, knowledge, finance, technology etc.

Question 10.
What is human capital?
Answer:
Human capital is defined as knowledge, ability, skill and physical capacity of the people which help them to produce more.

Question 11.
Clarify the ideology of Swadeshi.
Answer:
Ideology of swadeshi is quite impressive strategy to strengthen the country economically. The word swadeshi means ‘of own country’. Here, it refers to the goods and services produced by the Indian producers.
Examples – TATA, Patanjali etc.

Features of Indian Economy and its Trends Short Answer Type Questions

Question 1.
How low standard of living defines under-development of Indian economy?
Answer:
In India per capita income is very low, which is a sign of under develop economy. According to World Bank, in 2015 India’s per capita income was 1590 $. India is ranked 170 position on the basis of per capita gross national income. India’s gross per capita income is not only less than countries like America, England, France, and Germany but is also less than neighbouring countries like China and Sri Lanka. As a result of low per capita income, standard of living of the people is also low. Because of low standard of living depicts low availability of goods and services to the people.

Features of Indian Economy and its Trends Additional Questions Solved

Question 1.
Why was globallisation so essential?
Answer:
It was essential to have free movement of goods, services, capital, labour, knowledge, finance etc. It was also essential to increase production capacity and quality of the products.

Question 2.
What do you mean by poverty?
Answer:
Poverty is a situation in which a person is unable to get minimum basic necessities of life, i.e food, clothing, housing, health, education etc.

Question 3.
What do you mean by trade deficit?
Answer:
Excess of value of imports over value of exports is called as trade deficit.

Question 4.
Define balance of payment.
Answer:
A statement showing transactions between residents of the country and its non residents is called as balance of payment.

Question 5.
What is skill development?
Answer:
Skill development refers to process of enhancing the skills of youth of the nation so that youth becomes employable and have more opportunities to progress.

Question 6.
What was the biggest challenge in front of India just after independence?
Answer:
The biggest challenge in front of the country after independence was to drive the country towards the path of economic development

Question 7.
What played a vital role in deciding the future of country?
Answer:
Economic reforms done in 1990 played a vital role in deciding the future of country.

Question 8.
Mention the various factors that proves India is a developing country?
Answer:
India shows some features of developing economy too such as rapid increase in national income and per capita income, structural changes, rapid increase in service sector, improvement in economic and social infrastructure, decrease in growth rate of population, incrfease in foreign trade etc.

Question 9.
When is the World Youth Day observed?
Answer:
The World Youth Day is observed on 15 July 2015.

Question 10.
Who is the President of National Skill Development Mission and what is its objective?
Answer:
The President of this Mission is Prime Minister Narendra Modi. Its objective is to make youth skilled and to make them employable.

Question 11.
Why is ideology of swadeshi so important?
Answer:

Importance of swadeshi is as follows:

1. It will lead to increase in demand of domestically produced goods, which will help in progress Indian industries.
2. It will increase domestic production and national income.
3. Indian companies are more labour intensive as compare to foreign countries. So it will generate more employment.
4. Due to rise in domestic production imports will reduce and will cause savings of valuable foreign exchange.
5. Foreign companies take profit out of the country. Due to swadeshi this can be stopped.
6. It will make the country self reliant. It acts as a protective layer at the time of crisis.
7. Government receives comparatively more revenue due to increase in domestic production.
8. Work culture of domestic companies is as per the situation of the country. These companies use natural resources in a limit.
9. Some countries earn more profit by selling goods in Indian market and at the same time create problems for India on global platform. By using swadeshi goods, these countries can be brought under control.
10. Swadeshi leads to patriotism which helps in development.

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