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Lifelines of National Economy Video Lecture | NCERT Video Summary: Class 6 to Class 12 (English) - UPSC

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FAQs on Lifelines of National Economy Video Lecture - NCERT Video Summary: Class 6 to Class 12 (English) - UPSC

1. What are the lifelines of the national economy?
Ans. The lifelines of the national economy refer to the crucial sectors or systems that play a vital role in the overall economic development of a country. These lifelines include transportation, communication, banking, and irrigation.
2. How does transportation contribute to the national economy?
Ans. Transportation is a lifeline of the national economy as it facilitates the movement of goods, services, and people. It connects different regions and enables trade and commerce. Efficient transportation systems promote economic growth, create job opportunities, and enhance the overall productivity of a country.
3. What role does communication play in the national economy?
Ans. Communication is an essential lifeline of the national economy as it enables the exchange of information and ideas. It plays a crucial role in facilitating business transactions, promoting innovation, and fostering economic development. Effective communication systems help in the efficient functioning of industries, businesses, and government operations.
4. How does banking contribute to the national economy?
Ans. Banking is a vital lifeline of the national economy as it provides financial services that support economic activities. Banks facilitate savings, investment, and borrowing, which stimulate economic growth. They play a crucial role in channeling funds to various sectors, promoting entrepreneurship, and ensuring the smooth functioning of the financial system.
5. What is the significance of irrigation in the national economy?
Ans. Irrigation is a lifeline of the national economy as it ensures agricultural productivity and food security. It provides water to crops, increasing their yield and quality. Adequate irrigation facilities support the growth of the agricultural sector, which contributes significantly to the national economy. Irrigation also helps in reducing dependence on rainfall and mitigating the impact of droughts, thereby stabilizing the economy.
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