Notes : Indian Economy

1. Coal movement, remained single largest commodity moved by the railways constituting 42.4 per cent of the total freight moved by the end of 2008.

2. Handloom industry is the largest cottage industry providing maximum employment in Manipur. This industry has been flourishing since time immemorial. One of the special features of the industry is that women are the only weavers.

Food Processing is another popular industry in Manipur. In view of the importance of the industry, State Government has established a Food Processing Training Centre and Food Processing Training Hall at Imphal.

3. About 80 per cent of the people of Mizoram are engaged in agricultural pursuits. The main pattern of agriculture followed is Jhum or Shifting cultivation.

4.A price support scheme can be an agreement set in order by the government, where the government agrees to purchase the surplus of at a minimum price. For example, if a price floor were set in place for agricultural wheat commodities, the government would be forced to purchase the resulting surplus from the wheat farmers (thereby subsidizing the farmers) and store or otherwise dispose of it.
Click this link to see MSP by govt of India on 16.10.08

5. India’s irrigated agriculture sector has been fundamental to India’s economic development and poverty alleviation. Some 28% of India’s Gross Domestic Product (GDP) and 67% of employment is based on agriculture. Agriculture is the primary source of livelihood in rural areas, which account for75% of India’s population and 80% of its poor.

6. The Indian jute industry is mainly private-sector led-90 percent of capacity is in the private sector-with support from the government, including a highly protected domestic market For example, sacking in India enjoys a guaranteed market due to a government policy that requires grains and sugar to be packed in jute made material. In Bangladesh, on the other hand, domestic consumption of jute goods is about half the amount on a per capita basis compared to that of India. This means that the Bangladesh’s jute industry is far more exposed to world market conditions and faces more competitive prices.

Nonetheless, India’s jute industry is beset by similar constraints, including competition from the synthetics sector, high labor costs, obsolete machinery, all of which have led to endemic sickness in the sector. India’s National Jute Policy 2005 is directed towards reviving the jute economy through supportive measures for private operators, including research and development (R&D;), upgrading of technology and market development activities.

7. Characters of Primary Sectors: 1. directly depend upon nature for production, exploit natural resources for production examples : agriculture, forest and fishing

8. Characters of secondary sector: 1. Natural resources changed into finished goods which are ready to consume, addition of value to the commodity , includes manufacturing.

9. Characters of Tertiary sector: Services are included in tertiary sector e. g. Transportation. However there is not clear demarcation lines between secondary and tertiary sector.

10. The State Trading Corporation of India Ltd. (STC) is a premier international trading house owned by the Government of India. Having been set up in 1956, the Corporation has developed vast expertise in handling bulk international trade. Though, dealing largely with the East European countries during the early years of its formation, today it trades with almost all the countries of the world.

By virtue of infrastructure and experience possessed by the Corporation, it plays an important role in arranging import of essential items into India and developing exports of a large number of items from India. It exports a large number of items ranging from agricultural commodities to manufactured products from India to all parts of the world. Because of Corporation’s in depth knowledge about the Indian market, STC is able to supply quality products at most competitive prices and ensure that the goods reach the foreign buyer within the prescribed delivery schedule. It also imports bulk commodities for Indian consumer as per demand in the domestic market. souce :

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  • shakshi

    thanks for the notes.I find them very useful