Indian Economy — Flashcards
Gujarat Board · Class 11 · Economics
20 flashcards for Indian Economy (Gujarat Board Class 11 Economics) to test yourself on key terms and facts. Sample: "What were the three main.
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What were the three main occupational sectors in Ancient India?
Answer
1. Agriculture - Villages were self-reliant producing grains, vegetables, fruits, clothes, and dairy products 2. Industries - Cotton, jute, muslin, wool, indigo, terracotta, and earthenware manufactur…
According to historian Angus Maddison, what was India's share of world wealth during the Maurya dynasty?
Answer
India commanded 25% of the world's wealth during the Maurya dynasty. During Mughal rule, India had almost 90% of southern Asian region's wealth. Around 1700 A.D. under Aurangzeb, India's national inco…
When did the first railway run in India and between which stations?
Answer
The first railway in India ran on April 16, 1853, between Boribandar (present day CST/Victoria Terminus) and Thane. By 1947, India had a rail network of 53,000 km serving a population of 68 lakh peopl…
What were the 'Home Charges' during British rule in India?
Answer
Home Charges were payments made to Britain from India's income, including: 1. Interest payments for debts incurred in maintaining Indian colony 2. Interest on railways 3. Civil and military charges 4.
How did British industrial policy affect Indian industries?
Answer
British industrial policy was exploitative: 1. Only light consumer goods industries were developed 2. No attention to machine manufacturing or heavy industries 3. Raw materials sent from India to Brit…
What is Per Capita Income and what was India's PCI in 2013 according to Human Development Report?
Answer
Per Capita Income (PCI) is the average share of national income per person in an economy. Formula: PCI = Total National Income ÷ Total Population India's PCI in 2013 was $5,150 (at purchasing power p…
How has the share of agriculture in employment changed in India from independence to recent times?
Answer
Agriculture's share in employment has steadily declined: - 1947: 72% of population dependent on agriculture - 2001-02: 58% - 2013-14: 49% - 2011-12: 48.9% This decline indicates economic development …
What are the three sectors used to analyze employment and income in India?
Answer
1. Primary Sector: Agriculture and allied activities, dairy farming, animal husbandry 2. Secondary/Industrial Sector: Manufacturing, construction, mining, quarrying - all production activities 3. Tert…
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