Revision Notes for Class 11 Indian Economic Development Chapter 1 - Free PDF Download
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CBSE Class 11 Economics Chapter-wise Notes
Chapter 1 - Indian Economy on The Eve of Independence Notes
Access Class 11 Economics Chapter 1 – Indian Economy on the Eve of Independence
The current nature of the Indian economy is not solely owing to its current creation; its roots are deeply rooted in our history, i.e. India's past, particularly during the period when India was under British dominion. The reign lasted around two centuries. The Indian economy was in disarray on the brink of independence. In order to have a brighter future for ourselves and future generations, we as a country have to start from scratch and all over again. Our desire to obtain information and understanding was also stifled by 200 years of British control. We were denied an education because we were held as slaves by our oppressors. As a result of their acts, we were illiterate by the end of their rule. On the eve of independence, the Indian economy was brimming with people who had no idea how to serve the country.
Colonial Rule Resulted in Low-Level Economic Development:
Prior to the arrival of British rule, the Indian economy was self-sufficient.
Agriculture was the main source of livelihood, still the economy was influenced by various other activities like: Handicraft industries in the fields of silk and cotton textiles, metals and precious stone works, etc.
Since high-quality materials were employed and a high standard of craftsmanship was evident in all Indian imports, Indian products had a global market.
The economic policies of the colonial government were highly influenced by the self-centred economic interests.
No sincere attempt was made by the colonial government to estimate India's national and per capita income.
The notable estimators during that time were: Dadabhai Naoroji, William Digby, Findlay Shirras, V. K. R. V. Rao and R.C Desai. V. K. R. V. Rao's estimates were considered very significant at that time.
Conditions of Various Sectors of the Economy on the Eve of Independence.
Around 85% of the Indian population was dependent on agriculture during colonial rule.
Agricultural productivity became low. The sector experienced some growth due to various systems of land settlements which led to expansion of aggregate area under cultivation.
High yield of cash crops in country's certain areas was observed due to commercialisation of agriculture.
There was little progress in irrigation still the sector suffered due to lack of investment in terracing, flood control, drainage and desalination of soil.
The colonial rule did not allow the industrial base to grow in India for their own personal economic interests.
They want India to remain a exporter of important raw materials so that they could set up modern industries in Britain.
They also wanted to turn India into a market for finished products by their industries.
The indigenous handicraft industries began to decline and this created huge unemployment in India.
The roots of modern industry started to grow in India during the second half of the 19th century but the progress remained very slow.
The cotton textile mills were concentrated in western parts of the country that is Maharashtra and Gujarat whereas the jute mills were located in Bengal.
The structure, composition and volume of India's foreign trade was adversely affected by the restrictive policies of the commodity production, trade and tariff of the colonial government.
Primary products such as silk, cotton, wool, sugar jute, Indigo were exported from India.
Foreign trade was largely restricted to Britain, with only a handful of countries such as China, Sri Lanka, and Persia (Iran) being permitted.
The Indian economy was gravely exploited by the British government which led to the drain of Indian wealth.
The population growth in India was uneven.
Census operations were conducted every ten years.
Overall literacy marked less than 16% whereas the indicators of women literacy were as low as 7%. This clearly reflects the social and educational backwardness of the country.
Overall mortality rate was high due to frequent breakouts of water and air borne diseases and unavailability of adequate health facilities.
Low life expectancy existed with an alarmingly high infant mortality rate.
The largest share of the workforce was occupied in the agriculture sector at around 70-75% whereas manufacturing and services sector accounted for around 15 to 20%.
Aside from it, 17.2% of the working population was employed in the service or tertiary sectors of the economy. On the eve of independence and thereafter, this offered sluggish expansion to the Indian economy's tertiary or service sector.
The Indian economy eventually grew out of control just before Independence, with an uneven distribution of wealth.
The basic infrastructure such as railways, ports, water transport etc started developing during the colonial regime.
This development was observed because that would serve colonial interests.
Poor quality roads existed before the colonial government. Railways were introduced by the British in 1850 and this expanded India's exports.
Rather than accelerating the development and growth of the Indian economy, the Colonial government's primary goal was to promote the British government's interests.
Additionally, the barter system of trading gave way to a monetary system of exchange based on the usage of money. This aided the Indian economy's division of labour and large-scale production.
By the time India gained its independence each and every sector of the economy was saddled. There were huge challenges before the government that required immediate attention. What we inherited was a crippled economy.
Economics Class 11 Chapter 1 Notes Free PDF Download
Importance of Vedantu Indian Economic Development Revision Notes
Experts at Vedantu have explained each and every topic in a very friendly manner so that students can study in a stress-free environment.
The Class 11 Economics Chapter 1 notes Indian Economic Development Notes are designed in such a way that each and every concept can be memorized by the students easily and remains for a longer period of time.
These revision notes are explained in a very simple language so that any caliber student can understand it easily and fetch maximum benefits from it.
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Vedantu Revision Notes PDF is very important to study material before the final exams. Many a time the students are not able to perform well in the examination because of no proper revision. Sometimes the inability to recollect a small formula will lead to total failure in an exam. In order to be stress-free during exams, sufficient time must be allocated for revision. Vedantu Revision Notes PDF for economics class 11 chapter 1 notes helps students in learning proper and scientific methodology of revision to see that their efforts do not go waste.
The Vedantu Revision notes for Indian Economic Development class 11 chapter 1 notes are available in a PDF format so that students can simply download it free of cost and can be used offline from anywhere.
Chapter-Wise Indian Economic Development Class 11
Economics is not an easy subject until you have a clear idea regarding the chapters.
You will get 10 vital chapters here, along with easy explanations and examples. Indian Economic Development Class 11 Notes Chapter 1 CBSE Chapter-Wise:
Chapter 1 Indian Economy on the Eve of Independence
Chapter 2 Indian Economy 1950 – 1990
Chapter 3 Liberalisation, Privatisation and Globalisation : An Appraisal
Chapter 4 Poverty
Chapter 5 Rural Development
Chapter 6 Human Capital Formation in India
Chapter 7 Employment: Growth, Informalisation and Related Issues
Chapter 8 Infrastructure
Chapter 9 Environment Sustainable Development
Chapter 10 Comparative Development Experience of India with its Neighbours
Steps to Follow Revision Notes Class 11
Here the term notes mean everything is in a well-mannered form. Students of Class 11 should not need to arrange separate notes. They can depend on Vedantu’s revision notes only to prepare an entire syllabus of their economics.
Let’s find out the way to prepare your class 11 economics chapter 1 notes with these notes:
Always start with a simple and short chapter.
Keep understanding the concept until you grab it thoroughly.
Make sure to highlight the concepts which seem complex to you.
Make sure to read these revision notes daily. You don’t need to give much of your time during the exams. You just need to revise only.
Confidently answer all the questions.
Try to take your time as a small mistake, in the beginning, will put the error in the end.
Thus, it is a time to say goodbye to thinking that concepts of economics are never-ending. Just download these revision notes free of cost in PDF form. Once done, you need to start preparation only. Moreover, you can also refer these to your classmates as these can download free of cost like you as well and can be used offline.
FAQs on Indian Economy on the Eve of Independence Class 11 Notes CBSE Economics Chapter 1 (Free PDF Download)
1. From Where can You Download Economics Chapters Notes in PDF?
To score well in your Class 11 exam, completing the syllabus is not enough. You need something extra effort, and that extra effort and resources you will get from here, now you can easily download the PDF Economic Notes from Vedantu. It is designed and explained by the expert at Vedantu. So just refer to these revision notes and score well in your exam.
2. What are Some Important Points to Use Class 11 Revision Notes?
When you have everything in ready form, you just need to start preparation.
Here are some of the important points as to why to use revision notes:
All the information written in the revision notes is true as well as scoring.
These are designed after analyzing the last 10 years’ records.
The Vedantu expert teachers know which concept should be learned first and which may be left if you can’t do it.
They divide the complex answers into maximum sections, thereby, students can understand them properly.
Moreover, these notes have not been prepared by a single teacher. Every chapter has been designed as per the professional at Vedantu.
3. How to Prepare for CBSE Class 11 Economics Notes in one Month?
Few important tips to prepare in one month for exams are:
Managing the time and revision of the Economic paper.
Solve PYQP (Previous Year Question Paper).
Do not cram prior to the exam.
Do not panic.
Write neat, and present well.
Shift between subject categories.
4. What is economy and economics class 11?
The economy presents a system where every individual in order to satisfy their wants has to go through the process of production, consumption, investment and exchange. Economics, on the other hand, is the study of economics. It is the art of decision making, which presents the study of the use of scarce resources, under the conditions of scarcity in order to attain maximum satisfaction. It helps to determine how a human makes decisions when there is a scarcity of resources. It focuses on the way the economy works and the way in which the economic agents interact and behave.
5. What was the state of the agriculture sector and industrial sector of the Indian economy on the eve of Independence?
Our economy was known to be an agro state on the eve of independence. There was a rapid decline in the Indian agricultural sector. There was de-industrialisation, which had resulted in the decline of the Indian handicraft industry. The motive behind this for the Britishers was twofold. Firstly, they had planned on getting the raw materials from the land at a cheap rate, which had reduced the Indian market as the mere exporter of the raw materials to these British industries. Secondly, these raw materials were then made into products and sold by the Britishers in the Indian market at a high price.
The main idea of the Britishers was the total dependence of the Indian markets on them for the supply of capital goods and heavy equipment, which resulted in the unbalanced growth of the industries in India.
All these concepts are explained in detail in the NCERT Solutions Class 11 Economics by Vedantu at free of cost, which the students need to go through in order to attain a better understanding.
6. What was the growth rate of per capita income on the eve of Independence?
During the independence in 1947, the per capita income was recorded to be only 249.6 rupees annually. The economic policies laid down by the colonial government were concerned more with the development in their home country rather than in the development in the Indian subcontinent. These policies transformed India into a mere supplier of raw materials and the receiver of finished products at much higher stakes.
To get a better understanding of these concepts it is important for the student to go through the chapter line by line and also refer to the NCERT Solutions Class 11 Economics by Vedantu where everything is explained in detail and in an easy and simple language.
7. What is the name of Chapter 1 in economics class 11?
The first chapter is called the “ Indian Economy on the Eve of Independence.” It gives an overview of the Indian economy at the eve of Independence and how the Government of India had to take relevant steps in order to attain a planned development.
It is important for the student to read the chapter thoroughly and mark the important lines and topics to get a better hold of the subject matter. Apart from this, they are also advised to the students to resort to the NCERT Solutions and practice and read the exercises present in them to score better marks in the exams.
8. How to prepare for Class 11 Chapter 1 Economics?
In order to do well in any exam, it goes without saying that the student needs to be thorough with all that is taught in their syllabus. To achieve this, the student should first list down all the important points for Class 11 Chapter 1 Economics, and make a routine, where they allow enough time. They should also make rough revision notes that will help them in remembering what they have studied. Referring to the NCERT Solution too will be an immense source of help, as with the practice of the exercises present in them and by doing all this, they will be able to do well in the exams. You can also download the Vedantu app and access the study materials at free of cost.