NCERT solutions for इकॉनॉमिक्स इंडियन इकॉनॉमिक्स डेवलपमेंट [अंग्रेजी] कक्षा १२ chapter 3 - Liberalisation, Privatisation and Globalisation: An Appraisal [Latest edition]

Give an example each of a nationalised bank, a private bank, a private foreign bank, an FII and a mutual fund.

Visit a bank in your locality with your parents. Observe and find out the functions it performs. Discuss the same with your classmates and prepare a chart on it.

Find out from your parents if they pay taxes. If yes, why do they do so and how?

Do you know that for a very long time countries used to keep silver and gold as reserves to make payments abroad? Find out in what form do we keep our foreign exchange reserves and find out from newspapers, magazines and the Economic Survey how much foreign exchange reserves India had during the last year. Also find the foreign currency of the following countries and its latest rupee exchange rate.

Some scholars refer to disinvestment as the wave of privatisation spreading all over the world to improve the performance of public sector enterprises whereas others call it as outright sale of public property to the vested interests. What do you think?

Prepare a poster which contains 10-15 news clippings which you consider as important and relating to navaratnas, maharatnas, and miniratnas from newspapers. Also collect the logos and advertisements of these PSEs. Put these on the notice board and discuss them in the classroom.

Do you think only loss-making companies should be privatised? Why?

Losses incurred by public sector enterprises are to be met out of the public budget. Do you agree with this statement? Discuss.

Many scholars argue that globalisation is a threat as it reduces the role of the government in many sectors. Some counter-argue that it is an opportunity as it opens up markets to compete in and capture. Debate in the classroom.

Prepare a chart consisting of a list of five companies that have BPO services in India, along with their turnover.

Did you attend online classes or watched videos of your teachers or any other teacher taking classes during the last year through television, mobile phone or computers due to Covid-19 Pandemic? Share your experiences related to information technology.

Is employment in call centres sustainable? What kinds of skills should people working in call centres acquire to get a regular income?

If the multinational companies outsource many services to countries like India because of cheap manpower, what will happen to people living in the countries where the companies are located? Discuss.

In the chapter ‘Indian Economy 1950-1990’, you might have studied about subsidies in various sectors, including agriculture. Some scholars argue that subsidy in agriculture should be removed to make the sector internationally competitive. Do you agree? If so, how can it be done? Discuss in class.

Read the following passage and discuss in class.

What could be done to farmers like Mahadeva from incurring losses? Discuss in the class.

1. Do you think the power tariff should not be raised?
2. What would be your suggestions to revive small industries affected by reforms?

Why were reforms introduced in India?

Why is it necessary to become a member of WTO?

Why did RBI have to change its role from controller to facilitator of financial sector in India?

How is RBI controlling the commercial banks?

What do you understand by devaluation of rupee?

Distinguish between the following

Strategic and Minority sale

Distinguish between:

Bilateral and Multi-lateral trade

Distinguish between the following:

Tariff and Non-tariff barriers.

Why are tariffs imposed?

What is the meaning of quantitative restrictions?

Those public sector undertakings which are making profits should be privatised. Do you agree with this view? Why?

Do you think outsourcing is good for India? Why are developed countries opposing it?

India has certain advantages which make it a favourite outsourcing destination. What are these advantages?

Do you think the navaratna policy of the government helps in improving the performance of public sector undertakings in India? How?

What are the major factors responsible for the high growth of the service sector?

Agriculture sector appears to be adversely affected by the reform process. Why?

Why has the industrial sector performed poorly in the reform period?

Discuss economic reforms in India in the light of social justice and welfare.

The table given below shows the GDP growth rate at 2011-12 prices. You have studied about the techniques of presentation of data in your Statistics for Economics course. Draw a time series line graph based on the data given in the table and interpret the same.

Observe around you, you will find State Electricity Boards (SEBs), BSES and many public and private organisations supplying electricity in different states and union territories. There are private buses on roads alongside the government bus services and so on.

1. What do you think about this dual system of the co-existence of public and private sectors?
2. What are the merits and demerits of such a dual system? Discuss.

With the help of your parents and grandparents, prepare a list of multinational companies that existed in India at the time of independence. Now put a (tick) mark against those which are still growing and a (cross) against those which do not exist any more. Are there any companies whose names have changed? Find out the new names, the country of origin, nature of product, logo and prepare charts and display in your class.

Give appropriate examples for the following:

Now, find out if these companies which are mentioned above existed in India before 1991, or came after the New Economic Policy. For this, take the help of your teacher, parents, grandparents and shopkeepers.

Collect a few relevant newspaper cuttings and from the internet on meetings organised by WTO. Discuss the issues debated in these meetings, and find out how WTO facilitates world trade.

Was it necessary for India to introduce economic reforms at the behest of World Bank and International Monetary Fund? Was there no alternative for the government to solve the balance of payments crisis? Discuss in the classroom.