Chapter 7 of 11
Revision Notes
Indian Economy — Revision Notes
Gujarat Board · Class 11 · Economics
Indian Economy revision notes for Gujarat Board Class 11 Economics: 4 topics in quick points. Part of the Gujarat Board Class 11 Economics syllabus.
44 questions20 flashcards5 concepts
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Key Topics to Revise
1
Ancient India (Pre-British Period)
- Ancient India was predominantly agricultural with a self-sufficient village economy
- India commanded 25% of world wealth during Maurya dynasty according to historian Angus Maddison
- During Mughal rule, India controlled 90% of South Asian wealth
2
Indian Economy Before Independence (British Rule)
- Railway: First train ran between Boribandar and Thane on April 16, 1853; 53,000 km network by 1947
- Roads: 4,47,105 km roads by 1943 (32% concrete, 68% kachcha roads)
- Banks: Over 700 banks by 1946; RBI established in 1935
3
Indian Economy After Independence
- Per Capita Income: $5,150 in 2013 (PPP) - lower than China ($11,477) and Sri Lanka ($9,250)
- Agriculture: Employment share declined from 72% (independence) to 49% (2013-14)
- Industry: Employment share increased from 10.6% (1950-51) to 24.3% (2011-12)
4
Characteristics of India as a Developing Economy
- Growth Rate: Average 3.5% (1950-91), above 6.8% post-1991 reforms
- Structural Change: Agriculture's share in GDP declined from 53.1% (1950-51) to 17.6% (2014-15)
- Industrial Growth: Share in GDP increased from 16.6% (1950-51) to 29.7% (2014-15)
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Full NotesKey Concepts
Ancient India was predominantly agriculturalBritish rule (1757The distribution of workforce across PrimaryAverage income per person calculated asThe share of different sectors
Frequently Asked Questions
What are the important topics in Indian Economy for Gujarat Board Class 11 Economics?
Key topics in Indian Economy include Ancient India (Pre-British Period), Indian Economy Before Independence (British Rule), Indian Economy After Independence, Characteristics of India as a Developing Economy. Study these first, then practise questions on each for Class 11 exams.
How should I revise Indian Economy for Class 11 exams?
Learn the core ideas first, then work through the 44 practice questions on Indian Economy. Revise definitions regularly and use flashcards for quick recall before the exam.
Sources & Official References
Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.
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