NCERT Class 10 Economics Chapter 2: Sectors of Indian Economy YouTube Lecture Handouts

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NCERT Class 10 Economics Chapter 2: Sectors of Indian Economy

Chapter 2: Sectors of Indian Economy

Primary Sector

  • We depend mainly not entirely on natural factors like rainfall & Climate
  • Agriculture
  • Dairy
  • Mining
  • Fishing
  • Forestry

Secondary Sector

  • Natural product is changed to other form
  • Product is not produced by nature
  • Factory, workshop or at home
  • Industrial sector
  • Earth Bricks Buildings

Tertiary Sector

  • Aid and support the production
  • Transport to sell them at wholesale or retail shops
  • Communication
  • Banking
  • Storage
  • Trade
  • Generates service Service Sector

Quaternary Sector

  • Intellectual activities
  • Government, culture, libraries
  • R & D, education, and IT
  • Consultancy

Quinary Sector

  • Highest levels of decision making
  • Top executives or officials

How to Count Goods & Services?

  • Farmer Flour Mill Biscuit, Factory Packed Biscuits
  • Final value counted – includes intermediate values

GDP

  • Gross Domestic Product
  • Production of
  • Value of all final goods & services produced within a country during a particular year
  • Shows how big economy is

Changing Paradigms

  • India – Gradual shift from
  • Share of employment in is highest
  • Share in GDP is highest from sector
  • is largest producing sector since 2000 in India
  • Rising basic services in villages
  • Development in Agriculture leads to transport
  • Rising income restaurants, tourism
  • New services ICT

Ponder Around!

  • Industrial output 8 times; employment 2.5 times
  • Services production 11 times; employment by < 1 times
  • > 50 % population in agriculture with < 25 % of GDP implies workers are underemployed or disguised unemployment
  • Even if you pull out workers, no impact on output

Creating Employment

  • Improving irrigation
  • Investing in transport
  • Credit by local banks
  • Locate industries in semi-rural areas
  • Opening cold storage
  • Only 2/3rd children attend school – open schools – more staff
  • Improve health care – more doctors, nurses
  • Improve tourism & cope for extra 35 lakh jobs
  • Right to Work
  • National Rural Employment Guarantee Act 2005 (NREGA) - guaranteed 100 days of employment per year

Organized Sector

  • Formal sector
  • Assured employment
  • Follow rules and regulations like Factories Act, Minimum Wages Act
  • Must be registered
  • Job security
  • Work only for fixed hours
  • Get paid leave, payment during holidays, PF, gratuity etc.
  • Get medical benefits
  • Get retirement benefits

Unorganized Sector

  • Small and scattered
  • No government control
  • Low paid & irregular jobs
  • Less work
  • Seasonal employment

Protecting Workers of Unorganized Sector

  • In 1990՚s many organized workers lost jobs
  • Organized shift to unorganized to evade taxes with low salary
  • 80 % rural households are small and marginal farmers
  • Casual workers in construction, trade
  • Street vendors, rag pickers
  • Majority from SC/ST/OBCs in unorganized sector
  • Providing social security

Sectors by Ownership

  • Public: Government owns assets and provides services (Railways, Post Office) – money from taxes
  • Private: Ownership by private company (TISCO, Reliance) – profit motive
  • Government supports – for producing electricity at reasonable rates for industries; health; education
  • Fair price – PDS – Ration shops
  • Safe drinking water, housing, nutrition – Govt.

Manishika