RBSE Solutions Class 10 Social Science Chapter 15 Features of Indian Economy and its T

Features of Indian Economy and its Trends Very Short Answer Questions

Question 1. What was India's per capita income in year 2015?
Answer: In 2015, India's per capita income was $1590. This figure shows the average income for each person in the country that year.
In simple words: India's average income per person in 2015 was $1590.

🎯 Exam Tip: When providing specific data points like per capita income, ensure the number and unit ($) are accurate as per the source.

Question 2. Standard of living is measured by which factors?
Answer: The standard of living for people is mainly judged by their health and education. These two areas are key indicators of a community's well-being and progress.
In simple words: A person's standard of living is mainly checked by how healthy they are and how much education they have.

🎯 Exam Tip: Remember that "standard of living" refers to the level of wealth, comfort, material goods, and necessities available to a certain socioeconomic class or geographic area.

Question 3. How much percentage of India's labour force was engaged in agriculture at the time of independence?
Answer: Around 72% of India's population worked in agriculture when the country gained independence. This highlights how important farming was for jobs back then.
In simple words: When India became free, about 72% of all workers were farmers.

🎯 Exam Tip: Historical percentages related to sector employment are important for understanding economic shifts over time.

Question 4. What was the rate of growth of population of India in 2001-2011?
Answer: From 2001 to 2011, India's population grew by 17.64%. This figure shows the rate at which the number of people in the country increased during that decade.
In simple words: Between 2001 and 2011, India's population increased by 17.64%.

🎯 Exam Tip: Pay attention to the specific years mentioned when answering questions about growth rates, as they define the period of data collection.

Question 5. Human development report is prepared by which organization?
Answer: The Human Development Report is prepared by the United Nations. This international body collects data to assess how well countries are developing their people.
In simple words: The United Nations creates the Human Development Report.

🎯 Exam Tip: Knowing which international organizations are responsible for key reports helps to understand global development efforts.

Question 7. What do you mean by liberalization?
Answer: Liberalization is when economic rules and regulations are made simpler. It means removing unwanted controls and restrictions to make it easier for businesses to operate. This helps the economy to grow freely.
In simple words: Liberalization means making economic rules simpler and removing controls.

🎯 Exam Tip: When defining economic terms like liberalization, include both what it is and what it does (e.g., simplifies policies, removes restrictions).

Question 8. What is the meaning of Privatization?
Answer: Privatization means that the private sector plays a bigger part in the economy. This happens when the private sector gets more chances and the public sector's role becomes smaller. It shifts control from government to private businesses.
In simple words: Privatization is when private companies do more work in the economy, and government companies do less.

🎯 Exam Tip: Clearly distinguish between the roles of the 'private sector' and the 'public sector' when explaining privatization.

Question 9. What do you mean by globalization?
Answer: Globalization means connecting a country's economy with the global economy. It is a process where a national economy goes beyond its own political borders. This includes the free movement of goods, services, money, workers, ideas, and technology across countries. It makes the world more interconnected.
In simple words: Globalization links a country's economy with others around the world, allowing things like goods and ideas to move freely.

🎯 Exam Tip: When explaining globalization, list the key elements that move freely across borders (goods, services, capital, labor, knowledge, finance, technology).

Question 10. What is human capital?
Answer: Human capital refers to the knowledge, abilities, skills, and physical strength of people. These qualities help them to produce more goods and services. When people are educated and healthy, they become valuable assets to the economy.
In simple words: Human capital means the knowledge, skills, and physical ability of people that help them create more things.

🎯 Exam Tip: Focus on the qualities of individuals (knowledge, skill) that contribute to economic productivity when defining human capital.

Question 11. Clarify the ideology of Swadeshi.
Answer: The ideology of Swadeshi is a strong plan to make a country economically stronger. The word 'Swadeshi' simply means 'of one's own country'. It encourages using goods and services made by Indian producers. This helps local businesses and keeps money within the country. Examples of companies promoting Swadeshi are TATA and Patanjali.
In simple words: Swadeshi means using things made in our own country to help our economy grow stronger.

🎯 Exam Tip: When asked to clarify an ideology, explain its core meaning and its main goal or impact.

Features of Indian Economy and its Trends Additional Questions Solved

Question 1. Why was globallisation so essential?
Answer: Globalization was very important to allow the free movement of goods, services, money, workers, knowledge, and finance. It also helped countries to make more products and improve their quality. This global connection boosts economic growth and development.
In simple words: Globalization was needed to allow things like goods, money, and workers to move freely between countries and to make better products.

🎯 Exam Tip: When explaining the necessity of a policy like globalization, focus on the benefits it brings, such as free movement of resources and improved production.

Question 2. What do you mean by poverty?
Answer: Poverty is a situation where a person cannot get the very basic needs for life. These basic needs include food, clothes, a house, health care, and education. It means they lack enough money or resources to live a decent life.
In simple words: Poverty means not being able to get basic things like food, clothes, a home, health care, or education.

🎯 Exam Tip: For definitions of social concepts like poverty, clearly list the essential items that people lack.

Question 3. What do you mean by trade deficit?
Answer: A trade deficit happens when a country buys more goods from other countries (imports) than it sells to them (exports). It means the value of imports is higher than the value of exports. This situation shows that a country is spending more on foreign goods than it earns from selling its own.
In simple words: A trade deficit happens when a country buys more from other countries than it sells to them.

🎯 Exam Tip: Remember that a trade deficit occurs when imports exceed exports, indicating more money flowing out of the country than into it from trade.

Question 4. Define balance of payment.
Answer: The balance of payment is a record that shows all the money transactions between people of one country and people in other countries. It includes all money flowing in and out due to trade, services, and investments. This statement helps to understand a country's economic standing with the rest of the world.
In simple words: Balance of payment is a record of all money exchanges between one country's people and people in other countries.

🎯 Exam Tip: Emphasize that the balance of payment is a comprehensive statement covering all economic transactions with other countries.

Question 6. What was the biggest challenge in front of India just after independence?
Answer: After gaining independence, India's biggest challenge was to lead the country towards economic development. The new nation needed to build its economy and improve the lives of its people. This involved setting up new industries and policies.
In simple words: India's biggest challenge after independence was to grow its economy.

🎯 Exam Tip: Understand the historical context of India's challenges post-independence, with economic development being a primary concern.

Question 7. What played a vital role in deciding the future of country?
Answer: The economic changes made in 1990 were very important in shaping India's future. These reforms helped open up the economy and set the country on a new path of growth. They changed how businesses worked and how India interacted with the world.
In simple words: Economic changes made in 1990 were very important for India's future.

🎯 Exam Tip: The year 1990 is significant for India's economic reforms (LPG policies), which are often asked about in exams.

Question 8. Mention the various factors that proves India is a developing country?
Answer: Several factors show that India is a developing country. These include a fast increase in national income and per capita income, big changes in how the economy is structured, and a quick growth in the service sector. There have also been improvements in economic and social facilities, a decrease in the rate at which the population is growing, and more foreign trade. All these points together show India's progress.
In simple words: India is a developing country because its income is growing fast, its industries are changing, the service sector is expanding, and population growth is slowing down.

🎯 Exam Tip: When listing indicators of a developing country, include both economic (income, sector growth) and social (infrastructure, population) factors.

Question 9. When is the World Youth Day observed?
Answer: World Youth Day is celebrated on July 15 every year. This day focuses on the importance of young people in society and their role in global development.
In simple words: World Youth Day is observed on July 15.

🎯 Exam Tip: For specific dates, ensure accuracy. World Youth Day is distinct from International Youth Day (August 12).

Question 10. Who is the President of National Skill Development Mission and what is its objective?
Answer: The Prime Minister, Narendra Modi, is the President of the National Skill Development Mission. The main goal of this Mission is to give skills to young people and help them find jobs. This makes them ready for work and helps the country grow.
In simple words: Prime Minister Narendra Modi leads the National Skill Development Mission, which aims to train youth and help them get jobs.

🎯 Exam Tip: When identifying leaders of national missions, specify their official title (e.g., Prime Minister). Clearly state the mission's primary objective.

Question 11. Why is ideology of swadeshi so important?
Answer: The ideology of Swadeshi is very important for several reasons:
3. Indian companies often need more workers compared to foreign companies, so Swadeshi helps create more jobs. This is good for employment.
4. When domestic production increases, the need to import goods goes down, which saves valuable foreign money. This helps the country's finances.
5. Foreign companies often take their profits out of the country. Swadeshi can stop this outflow of money by promoting local businesses.
6. It makes the country self-reliant and acts as a shield during difficult times or crises. A country that produces its own goods is stronger.
7. The government gets more tax money because local production goes up. This helps fund public services.
8. Domestic companies usually work in ways that suit the country's conditions and often use natural resources carefully. They are more attuned to local needs.
9. Some countries earn a lot by selling things in India and can cause problems for India on the global stage. Using Swadeshi goods can help control their influence.
10. Swadeshi helps people feel patriotic and proud of their country, which encourages overall development. Supporting local businesses strengthens national spirit.
In simple words: Swadeshi is important because it creates jobs, saves money, makes the country self-reliant, increases government income, promotes careful use of resources, and helps control foreign influence. It also builds national pride.

🎯 Exam Tip: For questions asking 'why important,' provide a numbered list of distinct benefits or reasons, ensuring each point is clearly explained.