ICSE Set Qa1 Year Icse Economic97 Qa1.php Economics Exam Paper for students online
(a) Discuss the importance of agriculture in Indian economy.
Importance of Agriculture Products in Consumption:- India spent a
large part of her income on fulfillment of their basic requirement.
Agriculture product form a major part of their consumption.
(a) What important steps have been taken by the government to promote
Ans. 8(a) The government has taken the following steps to promote the growth of large scale industries : -
(1) Setting up of the institution which provides finance for the growth of industries such as Industrial Financial Corporation of India (I F C I ), Industrial Credit and Investment Corporation of India, National Small Industries Corporation, Unit Trust of India, Industrial Development Bank of India etc.
(2) Setting up of the other institution for the promotion of industries in India:- The government has set up the many institution to promote industries in India such as Industrial Bureau of Mines (IBM) , National Industries Development Corporation (N I D C), Indian Standard Institute (ISI), National Mineral Development Corporation Limited (N M D C), Hindustan Organic Chemicals Limited, Hindustan Insecticides Limited New Delhi, Indian Petrochemicals Corporation, Hindustan Copper Limited, The National Instrument , The Tea Board, The National Fertilizers, Coffee Board etc.
(b) Give four suggestion to solve the problems of cottage and small-scale
Q9 (a) What is the importance of irrigation in our economic life?
Ans. 9(a) Irrigation is the life line for agricultural production, without irrigation the production is impossible in agriculture. In areas where the rain fall is scanty and uncertain the artificial irrigation is absolutely necessary for agriculture. In modern economies the multicropping has become essential and for multicropping , the irrigation facilities are must. The cash crops as well as food grains output can not be increased if irrigation facilities are not available. After the green revolution the high yielding varieties of seeds need full irrigation because the required quantity of fertilizers, insecticides etc. can not be applied if the irrigation facilities are scanty. For the stable production as well as the double , triple cropping continuous supply of the water for agriculture is a precondition. The government should insure the maximum supply of water to agriculture from the available potential of water in country.
9(b) Explain any four advantages of road transport in India.
Q10 (a) Briefly explain the objectives of fiscal policy.
Ans:10 (a) Fiscal policy is the policy of Govt. regarding taxation, public expenditure and public debts.
Definition:-" A policy under which the Govt. uses its expenditure and revenue programmes to produce desirable effects and avoid undesirable effects on national income production and employment."
------------- A. Smithies.
By equity in distribution of income we do not mean absolute equity in income but reduction in gross inequalities of income.
(2) Mobilisation of resources :-The foremost aim of fiscal policy in underdeveloped countries is to be mobilize resources in private and public sectors.
(3) Accelerated rate of growth:-Fiscal policy promotes to accelerate the rate of economic growth by raising the rate of investment in public as well as in private sector. Balanced development of agriculture and industries is required to accelerate rate of growth.
(4)Encourage socially optimal investment :-Optimal investment is that which promotes economic development and avoids unproductive investment. Fiscal policy encourages investment into those productive channels which are considered socially and economically desirable.
(5) Induce capital formation :-Fiscal policy aims at inducement to investment and capital formation, by making investment in social and economic over heads.
(6) Check inflationary tendencies :- In a developing economy a mild inflation is unavoidable and desirable to stimulate production but galloping inflation disturbs the economy. With additional injection of purchasing power, the demand rises but supply remains inelastic on accounts of its structural rigidities, market imperfection and other bottlenecks, which is turn leads to inflationary pressures on the economy.
Q10 (b) Describe any four purposes of taxation.
Ans.10(b) Taxation is the biggest source of public revenue of Govt. It is legal duty of every citizen of a country to pay tax honestly.
" Tax is a compulsory payment from a person to the Govt. to defray the expenses incurred in the common interests of all without reference to special benefits conferred."
(1)Raising revenue :-Govt.
needs funds for promotional and development activities. Govt. levies taxes
of different types so that its revenue may increase.
(a) What is economic planning? Distinguish between the need , objectives
and strategies of economic planning.
Ans:11-(a) "Economic planning is essentially a way of organising and utilising resources to maximum advantage in terms of defined social ends". Ist five year plan.
In this sense planning implies actions in the light of a definite predetermined objectives with the help of centralised control and deliberate utilisation of national resources.
(1) Need:- Need for
economic planning is the answer to the question -"why economic
planning is required ?" Economic planning is required due to
existence of many economic factors mentioned as below:-
(2) Objectives:- Objectives are the goals which economic planning aims to achieve such as:-
* Economic development
(3) Strategies:-Strategies are the techniques adopted to achieve the objectives of economic planning . Some of the strategies followed in India can be mentioned as below:-
* More importance to
Give four of the main objectives of the Eighth Five Year Plan.
(2) Control of
population:-It also aims at control population growth with the help of
active contribution of public and incentives .
(4) Provision of health services:-The another objective of eighth plan is to make proper arrangement for clean drinking water for all people residing anywhere in India ,specially in villages , making arrangements for first aid and disposal of waste.
(5) Growth and diversification of agriculture:-This plan gave emphasis on agricultural development and diversification to achieve self sufficiency and increase the exports of food products.
(6) Strengthening of infrastructure:-For the continuous development of economy ,eighth plan laid emphasis on strengthening the infrastructure such as transportation ,irrigation ,electricity etc.