Worksheet Solutions: Comparative Development Experiences of India and its Neighbours- 1 | Economics Class 12 - Commerce PDF Download

Multiple Choice Questions

True and False

Match the Following

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Q5: Match the economic challenge with the strategy adopted by India:
 
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Very Short Answers

Q1: Name one major challenge faced by India and its neighbouring countries in achieving economic development.
Ans: Poverty

Q2: Which neighbouring country of India is known for its robust garment industry?
Ans: Bangladesh

Q3: What is the primary focus of India's "Make in India" campaign?
Ans: Promoting manufacturing sector

Q4: Mention one factor that has contributed to the economic growth of Sri Lanka.
Ans: Tourism

Q5: Name the international organization that publishes the Human Development Index (HDI) rankings.
Ans: United Nations Development Programme (UNDP)

Short Answers

Q1: Explain the role of education in the economic development of a country.
Ans: Education plays a pivotal role in the economic development of a country. It equips individuals with skills and knowledge, enabling them to contribute effectively to the workforce. Educated citizens are more likely to secure stable jobs, leading to increased productivity and income levels. Moreover, education fosters innovation and entrepreneurship, driving economic growth. Additionally, an educated population is essential for the adoption of advanced technologies and sustainable practices, further enhancing a nation's economic prospects. Therefore, investing in education is crucial for building a skilled workforce and achieving long-term economic development.

Q2: Discuss the challenges faced by India in the agricultural sector and the strategies implemented to address them.
Ans: India's agricultural sector faces challenges such as fragmented land holdings, inadequate irrigation facilities, and outdated farming techniques. These issues hinder productivity and income levels for farmers. To address these challenges, India has implemented various strategies, including promoting sustainable farming practices, providing access to credit and insurance schemes, and investing in irrigation infrastructure. Initiatives like the Green Revolution and organic farming promotion have also been instrumental. Additionally, the government has focused on farmer education and skill development, enabling them to adopt modern techniques. Strengthening agricultural marketing channels and introducing price stabilization measures have been vital to ensure farmers receive fair prices for their produce, contributing to sectoral growth.

Q3: Examine the impact of political instability on Nepal's economic development.
Ans: Political instability has significantly hindered Nepal's economic development. Frequent changes in government and political unrest create an uncertain environment, deterring foreign investments and disrupting economic activities. The lack of stable governance leads to inconsistent policies, making it difficult for businesses to plan and operate efficiently. Moreover, political instability often results in social unrest, affecting infrastructure projects and public services. Investors are reluctant to commit to long-term ventures in such an unpredictable climate. Additionally, political tensions can escalate into conflicts, diverting resources away from economic development efforts. Consequently, Nepal struggles to attract investments, develop infrastructure, and provide essential services to its citizens. To foster economic growth, Nepal needs political stability, good governance, and consistent policies that encourage both domestic and foreign investments, allowing the country to harness its economic potential and improve the standard of living for its people.

Q4: Describe the role of microfinance in promoting entrepreneurship and alleviating poverty in Bangladesh.
Ans: Microfinance has played a transformative role in Bangladesh's economic landscape by promoting entrepreneurship and alleviating poverty. Through microfinance institutions (MFIs), small loans are provided to entrepreneurs, especially women, who lack access to traditional banking services. These loans empower individuals to start small businesses, create employment opportunities, and generate income for their families. Women, in particular, have benefited significantly, as microfinance enables them to engage in income-generating activities, enhancing their financial independence and social status. Moreover, microfinance encourages financial inclusion, fostering a culture of saving and investment among the economically marginalized. By providing access to credit and financial resources, microfinance enables aspiring entrepreneurs to establish ventures, contributing to economic growth. Furthermore, the repayment of microloans helps in building a credit history, allowing borrowers to access larger loans in the future. Overall, microfinance has become a powerful tool in poverty reduction, empowering individuals to break the cycle of poverty and build sustainable livelihoods.

Q5: Discuss the significance of regional cooperation among India and its neighbouring countries for mutual economic development.
Ans: Regional cooperation among India and its neighbouring countries holds immense significance for mutual economic development. Collaborative efforts facilitate the sharing of knowledge, expertise, and resources, fostering economic growth across the region. Joint initiatives in trade, infrastructure development, and technological advancements create a conducive environment for investments and business collaborations. By pooling resources and expertise, countries can address common challenges, such as poverty, environmental issues, and healthcare, more effectively. Regional cooperation enhances market access, allowing businesses to expand their reach and diversify their customer base. Moreover, it promotes cultural exchange and people-to-people connections, fostering mutual understanding and diplomatic ties. Collaborative projects in sectors like energy, transportation, and education can lead to significant advancements, benefiting the entire region. Additionally, regional cooperation promotes stability and peace, ensuring a conducive environment for economic activities. Therefore, fostering strong regional ties and cooperation is essential for leveraging the collective potential of India and its neighbouring countries, leading to sustainable economic development and prosperity for all.