CBSE Class 11 Economics Indian Economic Development Revision Notes

CBSE Class 11 Indian Economic Development Revision Notes

Economics is a social science discipline. It discusses how production, distribution, and demand for goods and services operate. It also addresses how various governing bodies distribute resources.

Extramarks Revision Notes for Class 11 Indian Economic Development ensures effective exam preparation. Prepared by subject matter experts, these notes will help students score well due to their proper format.

Chapter-wise Revision Notes for Class 11 Economics

  • Chapter 1: Indian Economy on the Eve of Independence

The characteristics of the Indian economy and its post-independence growth are introduced in this chapter. 

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  • Chapter 2: Indian Economy 1950 – 1990

The efforts India made to create a stable economy after gaining independence are discussed in this chapter. It explains how aspects of capitalism and socialism were crucial. The significance of India’s economic planning strategies will be made clear to the students. These tactics include quality, modernization, and five-year plans.

  • Chapter 3: Liberalisation, Privatisation, and Globalisation: An Appraisal

This chapter examines how, in 1991, global institutions like the World Bank and the IMF forced India to rewrite its second policies. The chapter focuses on industrial and financial sector reforms.  Globalisation, privatisation, and liberalisation are the main topics covered. It explains how privatisation enhances public sector effectiveness. Globalisation is the collective result of privatisation and globalisation.

  • Chapter 4: Poverty

The current problems with poverty in India are discussed in this chapter. It starts with the parameters that are used for the determination and identification of the poor in India, current numbers, and differences between key concepts like absolute and relative poverty.

  • Chapter 5: Human Capital Formation in India

Chapter 11 of Economics goes into great detail on the economic development of India, including sections on human resources. Additionally, students will quickly grasp economic development, human capital, and growth.

  • Chapter 6: Rural Development

This chapter examines the significant problems affecting the development of rural areas in India. Students will learn the significance of rural development, credit and marketing in such areas and the system of the agricultural market for the expansion of the Indian economy as a whole.

  • Chapter 7: Employment, Growth, Informalisation and Other Issues

Along with the board’s explanation of unemployment, it covers important ideas like the labour force and economic activity. Students will understand how important elements are for the Indian economy including the nature of men’s and women’s fortification with topics like participation of workers, self-employment, employment in offices and factories, evolving employment structure, and unemployment, among others. 

  • Chapter 8: Infrastructure

The chapter highlights the effect of infrastructure on the growth of the country’s economy. It includes the importance of infrastructure, the function of energy, and health, which will be made clear to students. Additionally, the chapter explains how public-private partnerships are the main source of funding for infrastructure development.

  • Chapter 9: Environment and Sustainable Development

The chapter explains the significance of the relationship between people and the natural world for the long-term growth of the nation and its economy. More focus is given to sustainable development and the various strategies associated with it.

  • Chapter 10: Comparative Development Experiences of India and its Neighbours

Students will learn how the political system in India differs from those in its neighbouring countries. All planned development is structurally similar, but its implementation varies in Pakistan, China, and India. Topics like demographic and human development indicators and various strategies for development are included in this chapter.

Chapter-Wise Revision Notes for Class 11 Indian Economic Development

The CBSE textbook contains 10 Chapters which are of equal importance. These chapters are included in the Extramarks Chapter-Wise Revision Notes for Class 11 Indian Economic Development. Such thorough, well-structured notes compiled by subject-matter experts will improve learning that enables students to highlight quality points in their answers.

Conclusion

Referring to thorough revision notes is one of the most crucial components of in-class learning. The revision notes cover minute details and important points of the NCERT textbook. Extramarks provide revision notes which are not only written by subject matter experts but help the student gain interest in the subject, ultimately leading to scoring better.

FAQs (Frequently Asked Questions)

1. What is Class 11 Economics all about?

Class 11 Economics is the branch of social science that studies the various aspects of the Indian economy after independence, as well as the socialist and capitalist factors that influence the economy. It also teaches students about demonetization, privatisation, globalisation, and economic liberalisation, in terms of the public sector. Students will learn about various forms of poverty, rural development, and the nation’s overall economic growth.  Class 11 Economics also covers additional subjects like employment, infrastructure, sustainable development strategies, and comparative national development.

2. How did India plan its economic development?

India was left in ruins as a result of the British using the drain theory during their colonial rule over the country. India had to strengthen and rebuild its economic base because a country cannot function without a robust economy. Typically, the plan in this situation is on how the nation chose to use its resources. The five-year Indian economic plan has always included specific goals and objectives that are set according to specific needs and then actively pursued.

3. What is India's current economic status?

Since the market and the government coexist in India, the country has a mixed economy. India’s economy required stabilisation and growth after gaining independence. India’s economy has recently suffered greatly as a result of the pandemic situation, with a sharp decline in GDP. However, as the economy started to recover over the past year, the restrictions were gradually loosened. With the return of the labour force, the reopening of the industrial hubs, and exports, India’s gross domestic product is gradually increasing.