Sectors of Indian Economy Class 10 Notes | Economics Chapter 2 Class 10 Notes

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Sectors of Indian Economy Class 10 Notes

Sectors of the Indian Economy

Sectors of Economic Activities

Sectors define a large segment of the Economy in which businesses share the same on a related product OR service.

1. When we produce goods by Extraction and collection of natural resources, it is known as the primary sector F-g. Farming, forestry hunting, fishing, and mining.

2. The Secondary Sector covens activities in which natural products are changed into Other forms through ways of manufacturing the next step after the primary.

Some manufacturing processes are required here It is also called the industrial sector Example - Using cotton fiber from the plant, we spin Yann and weave cloth.

3 Tertiary sector - Includes activities that help in the development of the primary and Secondary Sectors These activities, by themselves, do not produce a good but they are an aid OR support for the production process It is also called the service sector Example - Teachers, doctors, lawyers, call center, barbers.

Comparing the 3 Sectors

The value of final goods and services produced in Each sector during a particular year provides the total production of the sector for that Year.

The Sum of production in the three sectors gives the Gross Domestic Product of a country. GDP is the value of all final goods and services produced within a country during a particular year. Shows how big the Economy is in India.

The task of measuring GDP is taken by the Central Government ministry.

Sectors of Indian Economy Class 10 Notes

In the year 2013-14 , the tertiary sector Emerged as the largest producing sector in India, replacing the primary sector.

The tertiary sector has become important in India because of the following reasons.

1. Services , Such as hospitals , Educational institutions, post and telegraph services, police stations , Counts, Village administrative offices, municipal corporations, defense, transport, banks, and insurance companies are considered basic services and are necessary for all people.

2. The development of agriculture and industry leads to the development of services such as transport, trade storage, etc.

3. With the rise in income of people, they start demanding more services like Eating out tourism, shopping, private schools, professional training, etc.

4- Over the past decade , certain new services based on information and communication tech have become important and Essential.

Where are most people employed?

Primary Sector

More than half of the workers in India are working in the primary sector mainly in agriculture.

Contribute only a quarter of the GDP.

Secondary Sector and Tertiary Sector

These sectors employ less than half of the people as compared to the primary sector.

These sectors produce four-fifths of the product.

How to create more employment

Employment can be given to people by identifying promoting and locating industries and services in semi-rural Areas.

Every State or region has the potential for increasing the income and Employment for people in that area It can be done by tourism or the Regional Craft industry on new services like IT, and from an Estimate by NITI Aayog 20 Lakh Jobs can be created in the Education sector alone.

The Central Govt. in India Mada a law. Implementing the Right to work in about 625 districts of India which is the Mahatma Gandhi National Rural Employment Guarantee Act CMGNREGA) 2005.

Under MGNREGA 2005 all those who can, and need work in rural areas are guaranteed 100 days of employment in a Year by the Government. if failed unemployment allowances for people.

Division of sectors as Organised and Unorganised

Organized Sector

It is the sector where Employment terms are fixed and regular , and the Employees get assured work

They are registered by the Government and have to follow rules and regulations which are given by the Government.

The job is regular and has fixed working hours and gets paid for Overtime.

Job Security is there.

People working get several other Benefits such as Paid leave, Provident fund, etc.

Good working Environment When they retire they get a pension.

Example - Government employees, Industrial workers, etc.

Unorganized sector

The unorganized sector is Chanatensed by small and scattered units which are largely outside the control of the Government.

They do not follow any Rules and Regulations by the government.

jobs are low-paid and Often not regular.

Employment is not secure.

No Other Benefits.

No such facilities are provided.

Examples - Shopkeeping, Farming, and Domestic work.

How to protect workers in the Unorganised sector

It is a need for protection and support of the workers of the Unorganised sector.

1 The government can fix the minimum wage rate and working hours.

2 The Government can provide Cheap loans to self Employed people.

3 Government can provide basic services like Education , and healthy food to these workers.

4 The Government can frame new laws to provide provisions for Overtime, Paid leave,s, etc.

Sectors in terms of ownership Public and Private sectors

Public Sector

In the public sector, the government owns most of the assets and provides all the services.

Railways OR Post office is an Examples of the Public Sector.

The purpose is not to Just Earn profit main aim is Public welfare.

Private Sector

In the private sector, Ownership of assets and delivery of services is in the hands of private individuals or Companies.

Companies like Tata Iron and Steel Company Limited or Reliance are privately owned.

The purpose is to Earn more and more profits.

Responsibilities of Government

There is a large number of activities that are the primary responsibility of the government Here are a few of them.

1 Gout raises money through tax to meet Expenses on the services given by them.

2 Govt has to Undertake heavy spendings such as the Construction of roads bridges railways, bamboo, and dams to provide water for irrigation Also it has to ensure that these facilities are available for Everyone.

3 There are some activities, which the Government has to support to Encourage the private sector.

4 The govt buys wheat and rice at a fair price from the farmers and sells them at lower prices which supports both farmers and consumers.

5 Running proper schools and providing Quality Education, and health facilities for all.

6 Government also needs to pay attention to aspects of Human development such as the availability of safe water, and housing facilities for the poor and for food and nutrition.