Revision: Indian Economic Development Economics ISC (Commerce) Class 11 CISCE

Viticulture is grape cultivation which is speciality of the Mediterranean region.

It is the type of farming where farmers specialize in and grow vegetables only. The distance of truck farms from the market is governed by the distance a truck can cover overnight.

Factory farming is a modern development in the industrial regions of West Europe where livestock especially poultry and cattle rearing is done installs and pens and fed on manufactured feedstuff and carefully supervised against diseases.

Sustainable development means a development that meets the needs of the present without compromising the ability of future generations to meet their own needs.

Sustainable development is the development that meets the needs of the present generation without compromising the ability of future generations to meet their own needs.

• “Sustainable development is development that meets the needs of the present without compromising the ability of future generations to meet their own needs” - World Commission on Environment and Development, 1987
• “The alternative approach (to sustainable development) is to focus on natural capital assets and suggest that they should not decline through time.” - Pearce, Markandya and Barbier, 1989-

\[Per Capita Income=\frac{NationalIncome}{Population}\]

• The book 'Indian Economic Development' covers basic features of the Indian economy post-Independence.
• India's present economic structure is rooted in its history, especially the British colonial period.
• British rule lasted for almost two centuries, ending on 15 August 1947.
• The British colonial objective was to make India a raw material supplier for Great Britain's industrial base.
• The colonial relationship was exploitative in nature.
• Understanding this past is essential for assessing India's post-independence development.
• India's post-independence strategy was shaped by considerations arising from this colonial legacy.

• India's economy was primarily agrarian, with the majority dependent on farming for livelihood.
• Agriculture was stagnant and deteriorating at the time of independence.
• The land settlement system, especially the zamindari system, was a major cause of agricultural backwardness.
• Zamindars had no interest in improving land; their focus was only on collecting rent.
• Cultivators lacked incentives, resources, and access to modern inputs and irrigation.
• Moneylenders exploited small cultivators who borrowed to pay rent and meet basic needs.
• The commercialisation of agriculture forced farmers to shift from food crops to cash crops for British industries.

• India had no strong capital goods industry before independence.
• Deindustrialisation under colonial rule destroyed the handicrafts sector.
• Cotton mills and jute mills were the first forms of modern industrial activity.
• TISCO (1907) at Jamshedpur was among the earliest modern industrial enterprises.
• The public sector was restricted to railways, power, ports, and communications.
• The new industrial sector contributed minimally to GDP/GVA before independence.

• Agriculture depends on physical, institutional, infrastructural, and technological factors.
• Farming includes subsistence, plantation, and market gardening, based on local conditions.
• Land reforms aimed to reduce unequal land ownership.
• The Green Revolution increased crop production using HYV seeds, fertilizers, and pesticides.
• Agricultural subsidies support farmers but remain debated.
• Tamil Nadu has different agro-climatic zones with specific crops and a declining net sown area.
• Across India, urbanization has reduced the net sown area as the economy shifts away from agriculture.

• The industrial sector provides employment stability unlike agriculture.
• The public sector was given "commanding heights" — control over key economic industries.
• The Industrial Policy Resolution 1956 divided industries into three categories based on government vs. private sector ownership.
• A licensing system was used to regulate private sector industries.
• The Karve Committee (1955) underscored the importance of small-scale industries.
• SSIs are defined by their investment limit and are labour-intensive.
• Government support to SSIs included product reservation and concessions.

• Rural credit helps farmers buy inputs and improve agriculture.
• Banks, co-operatives, RRBs, SHGs, and NABARD provide rural credit.
• SHGs and micro-credit reduce dependence on moneylenders and support financial inclusion.
• Many small and marginal farmers still lack access to formal credit.
• Jan-Dhan Yojana expanded banking access and enabled direct benefit transfers.
• Better rural marketing is needed to ensure farmers get fair prices for their produce.

• Diversification reduces risk by moving from agriculture alone to allied and non-farm sectors.
• Animal husbandry, fisheries and horticulture are key sources of supplementary income and employment.
• Women play an increasing role in non-farm activities, cooperatives and value-adding processes.
• Information technology and schemes like SAGY support sustainable rural development and better livelihoods.

• Education spending has increased but is still below the 6% of GDP target.
• Government expenditure on education has risen over time.
• More investment is needed at all levels of education.
• States differ widely in their spending on education.
• The Right to Education (RTE) Act, 2009 ensures free and compulsory education for children aged 6–14.
• School dropouts and child labour reduce human capital formation.

• Unemployment refers to persons in the 15–59 years age group who are able and willing to work at the prevailing wage but cannot find employment.
• Children, elderly persons and those unwilling to work are not counted as unemployed.
• Major types of unemployment are open, seasonal, disguised, educated and underemployment.
• Rural unemployment is mainly seasonal and disguised, while urban unemployment is mainly educated and open unemployment.
• Major causes include population growth, inadequate skills, seasonal employment, technological changes, economic fluctuations and mismatch between demand and supply of labour.
• Unemployment leads to wastage of human resources, poverty, educational stagnation, mental stress, anti-social activities and slow national development.

• Sustainable development meets the needs of the present without compromising the ability of future generations to meet their own needs.
• It balances economic growth, social well-being and environmental protection.
• It is based on inter-generational equity and meeting the basic needs of all, especially the poor.
• The Brundtland Commission (1987) gave the most widely accepted definition.
• Lester Brown, Edward Barbier and Herman Daly made important contributions to the concept.
• The 17 Sustainable Development Goals (SDGs) adopted by the United Nations in 2015 provide a global framework for achieving sustainable development by 2030.