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 β 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 β 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 2β3rd children attend school β open schools β more staff
- Improve health care β 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 1990Υs 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 SCβSTβ OBCs in unorganized sector
- Providing social security
Sectors by Ownership
- Public: Government owns assets and provides services (Railways, Post Office) β money from taxes
- Private: Ownership by private company (TISCO, Reliance) β profit motive
- Government supports β for producing electricity at reasonable rates for industries; health; education
- Fair price β PDS β Ration shops
- Safe drinking water, housing, nutrition β Govt.
β Manishika