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SEBA Class 10 Social Economics Chapter 2 Economics Development
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Economics Development
POLITICAL AND ECONOMICS
Very Short Answer Type Questions:
Answer in one sentence-
1. Economic growth.
Ans: Economic growth relates to growth in output and, in particular, growth in per capita income.
2. Economic development.
Ans: Economic development also looks into how increased income is being distributed so as to avoid concentration of income in the hands of the few.
3. Human development.
Ans: Human development means the expansion of collective choice of the people.
4. Economic planning.
Ans: Economic planning is an instrument to attain a set of well defined objectives within a definite time period as determined by a central planning agency.
5. Democratic planning.
Ans: In democratic planning the people participate in the different stages of plan making.
6. Liberalisation.
Ans: Economic liberalisation means lessening of the degree of state control in the economic system of a country.
7. Privatisation.
Ans: Privatisation is opening up of the sector units to the private sector. The Industrial Policy.
8. Globalisation.
Ans: Globalisation means the integration of the economy of a nation with the economies of the rest of the world.
| Short Answer Type Questions |
1. Mention two important points of difference between economic growth and economic development.
Ans: 1. Meaning: Economic Growth refers to the increase in the output of goods and services and per capita income.
Economic Development includes economic growth along with improvements in education, health, and standard of living.
2. Concept: Economic Growth is a quantitative and narrower concept.
Economic Development is a qualitative and broader concept.
2. What are the three indices of human development?
Ans: The three key indicators of human development are:
(a) Life Expectancy – representing the average lifespan and overall health of the population.
(b) Literacy Rate – indicating access to education and educational attainment.
(c) Standard of Living – primarily measured by access to basic needs such as sanitation and safe drinking water.
3. What is meant by extension of collective choice?
Ans: The expansion of collective choice refers to the broadening of opportunities and options available to individuals within a society, which is a fundamental aspect of human development. At its core, human development is centered on enhancing people’s choices—economic, social, cultural, and political—so they can lead meaningful and fulfilling lives.
Three key factors that influence the expansion of collective choice are:
(a) Life Expectancy – A longer and healthier life allows individuals to participate more fully in social and economic activities.
(b) Literacy and Education – Education empowers people with knowledge and skills, enabling them to make informed decisions and expand their opportunities.
(c) Standard of Living – A decent standard of living ensures access to basic resources, which supports greater freedom and choice in daily life.
4. Mention four important objectives of India’s Five Year Plans.
Ans: The objectives of India’s Five Year Plans are:
(i) Increase in the growth rate of economy.
(ii) Expansion of employment opportunities.
(iii) Eradication of poverty.
(iv) Removal of regional inequalities.
(v) Elimination of socio-economic inequalities.
(vi) Ensure sustainable economic development without harming the environment
5. Who are the members of NITI Aayog?
Ans: NITI Aayog ke members:
(a) Chairman: Prime Minister
(b) Vice-Chairman: Appointed by the PM
(c) Full-time Members: 3 experts
(d) Part-time Members: 2
(e) Ex-officio Members: 4 Cabinet Ministers
(f) CEO: An IAS officer
(g) Governing Council: All CM’s and LG’s of UTs
6. Explain one of the main points of difference between the first phase of planning in India (1951-52 to 1990-91) and the second phase (1991-92 to the present day)
Ans: One of the main differences between the first and second phases of planning in India lies in the role of the public sector. During the first phase (1951-52 to 1990-91), the public sector was the driving force of the economy, with a strong focus on state-led development and centralised planning. In contrast, the second phase (1991-92 to the present) marked a shift towards reducing the role of the public sector. This period saw the emergence and emphasis of policies like liberalisation, privatisation, and globalisation, encouraging private participation and integration with the global economy.
7. Briefly explain the three main causes of the introduction of economic reform measures in India.
Ans: The Three Main Causes of Economic Reforms in India:
(i) Fiscal Deficit: A major reason for economic reforms was the high fiscal deficit, where government expenditure exceeded its revenue. During the early planning phase, many public sector units were running at a loss, worsening the financial situation.
(ii) Inflation: The Indian economy was severely affected by high inflation before the reforms. This particularly hurt low-income and economically weaker sections of society.
(iii) Balance of Payments Crisis: Since the 1980s, India faced a serious balance of payments crisis. Capital outflow was high while inflow declined, leading to a rising trade deficit and depletion of foreign exchange reserves.
In response to this crisis, the World Bank recommended structural reforms. As a result, the Narasimha Rao government introduced economic reforms in 1991 to stabilize and liberalize the economy.
8. Mention three benefits of economic reforms in India.
Ans: Three benefits of economic reforms in India are:
(a) Higher Economic Growth: After the reforms, India’s growth rate increased from 3.5% to over 9% during 2005–2008 and remained around 7% till 2014.
(b) Controlled Inflation: There was a decline in the wholesale price index, indicating better control over inflation.
(c) Rise in Foreign Exchange Reserves: Forex reserves rose significantly from covering just 15 days of imports in 1991 to 7 months by 2015, reaching $328.7 billion.
9. Briefly explain two problems of economic reforms in India.
Ans: The problems of economic reforms in India:
(i) Unequal distribution of benefits: Economic reforms have led to increased competition and growth, but their advantages have largely benefited the urban and affluent sections. A large portion of the rural and poorer population remains untouched due to limited access and low income.
(ii) Rising materialism and social imbalance: The push towards consumerism has led to a shift in social values, with increased focus on material wealth. This can result in erosion of traditional values and growing disparity in society.
10. Mention five important objectives of Assam’s Twelfth Five Year Plan.
Ans: The key objectives of Assam’s Twelfth Plan are as follows:
(i) To increase the growth rate of Assam’s economy to 10 per cent over the next two to three decades, thereby bridging the development gap between Assam and the more advanced states of India.
(ii) To implement various targeted schemes aimed at poverty eradication.
(iii) To address the recurring problems of floods and erosion through the adoption of modern technologies and scientific management methods.
(iv) To boost the annual growth rate of the agricultural sector from 6 percent to 8 percent.
(v) To achieve self-sufficiency in power generation and incorporate modern technologies in the supply and distribution of electricity.
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SEBA Class 10 Social Science Solutions [New Edition Updated]
| S.L No. | CONTENTS |
| PART – I: HISTORY | |
| Chapter 1 | Partition Of Bengal And Swadeshi Movement |
| Chapter 2 | Rise Of Gandhi And The Freedom Movement Of India |
| Chapter 3 | Anti-British Rising And Peasant Revolts In Assam |
| Chapter 4 | Indian British Rising and Peasant Revolts in Assam |
| Chapter 5 | Cultural Heritage Of India And North East Region |
| PART – II: GEOGRAPHY | |
| Chapter 6 | Ecological Geography: Subject Matter and Resource |
| Chapter 7 | Environment And Environmental Problems |
| Chapter 8 | Geography Of The World |
| Chapter 9 | Geography Of Assam |
| PART – III: POLITICAL SCIENCE | |
| Chapter 10 | Indian Democracy |
| Chapter 11 | International Organization |
| PART – III: ECONOMICS | |
| Chapter 12 | Money And Banking |
| Chapter 13 | Economic Development |
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