Economy And Government
I Key points.
- In 1929 soviet Russia implemented the first ever economic plan Modern planning was first conceived in India by Bharat Ratna sir M.Visveswariah.
- Sir. M.visveswariah is regarded as father of Economic planning in India.
- India implemented its first five year plan on 1st April 1951.
- So far 11 five year plans have been implements
- Poverty is one of the major problem in Indian economic system .
- At present the major contribution to the national income has been from the service sector.
- The greatest achievement of the five year plans has been the Green Revolution .
- Revolution mean‟s quick change or progress.
II Years and significance
1. 1929=Soviet Russia implemented the first ever economic plan.
2. 1934= Sir M. Visveswariah Published a book titled planned Economy for India.
3. 1950= The Indian Government formed the national planning commission
4. 1952= The National Development council was established.
5. 1960= Dr. Norman Borlaug a German agricultural conducted many experiments
III. Expand the following abbreviation
1. NPC : National planning commission
2. NDC : National Development Council
3. HYVS : High yield Variety Seeds
4. MNCs : Multi National Companies
5. FDI : Foreign Direct Investment
IV. Match the following
1. Green Revolution a) Production of Eggs e
2. Blue Revolution b)Production of milk d
3. Yellow Revolution c)Production of Oil seeds c
4. White Revolution d)Production of Fish b
5. Silver Revolution e) Production of Food Grains a
V Choose the Correct answer from the following alternatives:
1. The Chairman of Planning Commission is
a)The Prime minister b)The President
c)The chief Justice d)The Finance Minister
2. The members of National Development Council are:
a)The Governors of all the states
b)The Chief ministers of all the states
c) Members of Legislative Assembly
d)The president and prime Minister.
3. Indies first five year plan came into effect
a)1st April 1951 b)10th April1956 c)3rd May 1960 d)2nd June 1966
4. Who is called „the Pioneer of Green Revolution?
a)Nehru b) Dr. Amarthya Sen c)Dr.M.S Swaminathan d)Vargheese Curien
5. Golden Revolution means
a) Production of oil seeds b) Production of milk
c) Production of meat d)Production of fruits and flowers
VI. Fill in the blanks with suitable words
1. In the 20th century, governments brought into practice economic plans to enable economic development.
2. The organization which formulates the five-year plans in India is National planning commission
3. In the 11th five-year plan, inclusive growth was given priority.
4. The Pioneer of the Green Revolution was Dr.M.S Swaminathan
5. The government encourages farmers to adopt eco friendly system of farming in order to make farming environment- friendly and stable.
6. The enormous increase in production resulting from agriculture and agro based activities is called Rainbow Revolution.
7. Production of meat is called Red Revolution.
8. The Organic and natural farming in Indian agriculture is used to increase the agricultural production .This process is referred to as „T he Seco nd Green Revolution or Perpetual Green Revolution.
9. At present the major contribution to the national income has been from the service sector.
VIII. Answer the following in one sentence each:
1. Explain the meaning of „economic planning‟.
„The conscious and wise process through which the government, with certain specific objectives, utilizes the country‟s resources in a profitable manner in order to secure maximum satisfaction of its people is called planning‟.
2. Who is the „Father of Indian Economic Planning‟?
Bharat Ratna Sir M.Visveswariah is the „Father of Indian Economic Planning‟
3. Which is the organization that approves five-year plans?
„National Development Council‟ is the organization that approves five-year plans
4. What is meant by „Green Revolution‟?
The quick change or progress that took place in the production of food grains in India in 1967- 70 has been termed the „Green Revolution‟
5. What is meant by „Post-Harvest Technology‟?
The improved technology that is used to procure, process and market agricultural produce is called „Post-Harvest Technology‟.
6. Explain „Globalisation‟.
Due to globalization, foreign manufacturers can market their goods and services in our country, Indian manufacturers can market their goods and services in foreign countries. Foreign investors can invest in our country, establish industries, manufacture goods and services, market them here or export them. Indian investors can invest in foreign countries and establish industries.
VI. Answer the following in 5-6 sentences.
1. How has the role of governments increased in welfare states?
With the rise of „Welfare States‟ in the 20th century, the scope of governments‟ involvement got extended. They came forward to provide many facilities like food, clothing, shelter, education, health, hygiene, transport, communication etc. to the citizens. As the Government began involving itself in the economic activities of the people it began to gain more importance in the process of economic development.
2. What are the objectives of five-year plans?
- Increasing the production to the maximum extent possible.
- Increasing the employment opportunities.
- Reducing the economic disparities.
- Ensuring economic stability.
- Modernising the economy etc.
3. List the achievements of five-year plans.
- Over the years ,the rate of growth of the national income has increased gradually.
- Self sufficiency has been achieved in the production of food grains
- Employment opportunities have increased with the expansion of industry and service sectors.
- Immense progress has been recorded in the fields of science and technology.
- Modern technology is being used in the agricultural, industrial and service sectors.
- Life expectancy and literacy rate of people have improved
- Birth and death rates have reduced and rate of population growth is also decreasing.
4. What are the factors that led to the Green Revolution?
- The Green Revolution was the consequence of using „high yielding seeds‟.
- In the beginning of 1960, Dr.Norman Borlaug a German agricultural conducted many experiments in Mexico, the result of which was the discovery of high- yielding wheat grains.
- Mexico and Taiwan made use of this grain and achieved immense success in the production of wheat.
5. What steps has the government taken towards liberalization?
The government has mainly relaxed the restrictions pertaining to private industry.
It has also removed the ceiling fixed on production, distribution, price regulation and capital investment. The practice of issuing license for establishing private industries has been abolished. The limit on capital investment in private industries has been removed. Total freedom has been provided for establishing an industry, expanding the existing one, and merging with other industries.
6. What is a welfare state?
Welfare state means a state ensuring welfare of all citizens by providing social and economic services through its policies and programmes.
7. Who is the chairman of the planning commission?
The Prime Minister of India is the chairman of Planning commission.
8. On what model are our five year plans designed ?
Our five year plans are designed on the Russian (Soviet Union ) Model.
9. What did Sir M Visveswariah stress in this book titled „Planned Economy for India?
Sir M Visveswariah stressed the need for planning to achive economic development in India.
10. Why are the economic plans in India called five year plans?
Since the plan period in India is five years , so it is called as five year plan.
11. What is meant by „Pre harvest Technology‟ ?
The improved technology used in agricultural production is called Pre harvest Technology. Do you know this? Rainbow Revolution
In addition to farming, farmers also engage in related activities of cattle-breeding, poultry-farming, fishery and silk farming. The enormous increase in production resulting from agriculture and agro-based activities is called „Rainbow Revolution‟. This revolution consist many smaller revolutions.
They are :
1. Green Revolution - Production of Food Grains
2. Blue Revolution - Production of Fish
3. Yellow Revolution - Production of Oil Seeds
4. White Revolution - Production of Milk
5. Silver Revolution - Production of Eggs
6. Golden Revolution - Production of Fruits and Flowers
7. Red Revolution - Production of Meat