Economy and Government — Flashcards
Karnataka Board · Class 10 · Social Science
20 flashcards for Economy and Government (Karnataka Board Class 10 Social Science) to test yourself on key terms and facts.
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What is economic planning and why is it important for developing countries?
Answer
Economic planning is the conscious and wise process through which the government, with specific objectives, utilizes the country's resources profitably to secure maximum satisfaction of its people. It…
Who is known as the 'Father of Economic Planning in India' and what was his contribution?
Answer
Sir M. Visveswariah is known as the 'Father of Economic Planning in India'. He first conceived modern planning in India and published a book titled 'Planned Economy for India' in 1934, where he stress…
Social Justice
Answer
Social justice refers to the equal distribution of income and wealth generated in the country to everybody without any discrimination based on caste, class, literacy, economic status, or location (urb…
When was the National Planning Commission formed and what is its main objective?
Answer
The National Planning Commission was formed in 1950 after India's independence. Its main objective is to precisely estimate the natural and human resources and capital in the country, and to prepare p…
What is the National Development Council and what role does it play in planning?
Answer
The National Development Council was established in 1952. Chief ministers of all states are members of this council. It approves the draft copies of five-year plans prepared by the National Planning C…
When did India's first Five-Year Plan begin and how many have been completed so far?
Answer
India's first Five-Year Plan came into effect on 1st April 1951. So far, 12 Five-Year Plans have been implemented. In 2015, NITI Aayog was established to replace the National Planning Commission.
List the main objectives of India's Five-Year Plans.
Answer
The main objectives of India's Five-Year Plans are: 1) Eradication of poverty and improving standard of living, 2) Increasing production to maximum extent possible, 3) Increasing employment opportunit…
How has India's national income growth rate changed over different periods of planning?
Answer
India's national income growth has gradually improved: Initial 20 years (1951-1971): 3.5% per annum average; Next 20 years (1971-1991): 5% per annum average; 1991-2000: 5.6% annually; 2001-2010: 7.3% …
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Sources & Official References
- Karnataka SSLC — kseeb.kar.nic.in
- Dept of Pre-University Education, Karnataka
- National Education Policy 2020 — education.gov.in
Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.
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