General awareness: Economics notes # 4

(Source: XI NCERT Economics Chapter 6 & 7)                         

 CHAPTER 6 : RURAL DEVELOPMENT

·        -  In 1969 India adopted social banking and multi agency approach to adequately meet the needs of rural credit.

·        -  NABARD was set up in 1982.

·        -  Kudambashree is a women oriented community based poverty reduction programme being implemented in Kerala.

·        -  Four measures that were initiated to improve the agricultural marketing aspect

1.       Regulation of markets to create orderly and transparent marketing conditions.

2.       Provision of physical infrastructure facilities like roads, railways, warehouses, godowns, cold storages etc.

3.       Cooperative marketing in realizing fair prices for farmers products.

4.       Policy instruments like

a.       MSP for 24 agricultural products

b.      Maintenance of buffer stocks of wheat & rice by FCI

c.       Distribution of food grains and sugar through PDs.

·         - Operation Flood from 1966 onwards – Milk Production

·         - Golden Revolution – Horticulture

·        -  Organic Farming helps in the sustainable development of Agriculture.

CHAPTER 7 EMPLOYMENT

·         - The construction workers are known as casual workers.

·         - All economic activities were divided into 8 different industrial divisions

1. ·         Agriculture                                                                         
2. ·         Mining & Quarrying
3.        Manufacturing
4. ·         Electricity, Gas & Water Supply                                 
5. ·        Construction
6. ·         Trade
7. ·         Transport & Storage                                                      
8. ·         Services

·        -  The process of moving from self employment and regular salaried employment to casual wage work as casualisation of workforce

·        -  Those work in the public sector establishments and those private sector establishments which employ 10 or more hired workers are called formal sector establishments.

·         - There are three sources of data on unemployment

o   Reports of Census of India

o   NSSO’s reports of employment & unemployment

o   Directorate general of Employment and Training Data of Registration with employment exchanges.

·        -  Unemployment prevailing in Indian farms is disguised unemployment.

·      -    Disguised unemployment: Suppose a farmer has four acres of land and he actually needs only two workers and himself to carry out operations on his farm in a year, but if he employs 5 workers and his family members, this situation is known as disguised unemployment.

·        -  Majority of workers in India are Self Employed.