{"id":14882,"date":"2022-02-11T11:52:51","date_gmt":"2022-02-11T06:22:51","guid":{"rendered":"https:\/\/scholarsclasses.com\/blog\/?p=14882"},"modified":"2025-02-02T12:07:38","modified_gmt":"2025-02-02T06:37:38","slug":"11th-economics-chapter-10-exercise","status":"publish","type":"post","link":"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-10-exercise\/","title":{"rendered":"11th Economics Chapter 10 Exercise Answer (Economic Planning in India) Maharashtra Board &#8211; Free Solution"},"content":{"rendered":"\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_81 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69ef968782099\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69ef968782099\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-10-exercise\/#11th_Economics_Chapter_10_Exercise\" >11th Economics Chapter 10 Exercise<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-10-exercise\/#Chapter_10_%E2%80%93_Economic_Planning_in_India\" >Chapter 10 &#8211; Economic Planning in India<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-10-exercise\/#Q_1_Choose_the_correct_option\" >Q. 1. Choose the correct option<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-10-exercise\/#Q_2_Give_economic_terms\" >Q. 2. Give economic terms<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-10-exercise\/#Q_3_Identify_and_explain_the_concepts_from_the_given_illustrations\" >Q. 3. Identify and explain the concepts from the given illustrations<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-10-exercise\/#Q4_Answer_the_Following\" >Q.4. Answer the Following<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-10-exercise\/#Q5_State_with_reasons_whether_you_agree_or_disagree_with_the_following_statements\" >Q.5. State with reasons whether you agree or disagree with the following statements<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-10-exercise\/#Q7_Read_the_following_passage_carefully_and_answer_the_questions\" >Q.7. Read the following passage carefully and answer the questions.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-10-exercise\/#Solution_of_all_Chapters_of_Economics\" >Solution of all Chapters of Economics<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-10-exercise\/#Check_out_other_posts_related_to_the_11th_Commerce\" >Check out other posts related to the 11th Commerce<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading has-text-align-center\"><span class=\"ez-toc-section\" id=\"11th_Economics_Chapter_10_Exercise\"><\/span>11th Economics Chapter 10 Exercise<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><img decoding=\"async\" width=\"1024\" height=\"576\" data-src=\"https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/02\/11th-Economics-Chapter-10-Exercise-1024x576.jpg\" alt=\"11th Economics Chapter 10 Exercise\" class=\"wp-image-15035 lazyload\" style=\"--smush-placeholder-width: 1024px; --smush-placeholder-aspect-ratio: 1024\/576;width:720px;height:auto\" title=\"\" data-srcset=\"https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/02\/11th-Economics-Chapter-10-Exercise-1024x576.jpg 1024w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/02\/11th-Economics-Chapter-10-Exercise-300x169.jpg 300w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/02\/11th-Economics-Chapter-10-Exercise-768x432.jpg 768w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/02\/11th-Economics-Chapter-10-Exercise-1536x864.jpg 1536w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/02\/11th-Economics-Chapter-10-Exercise-640x360.jpg 640w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/02\/11th-Economics-Chapter-10-Exercise.jpg 1920w\" data-sizes=\"(max-width: 1024px) 100vw, 1024px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" \/><figcaption class=\"wp-element-caption\">11th Economics Chapter 10 Exercise<\/figcaption><\/figure>\n\n\n\n<h2 class=\"wp-block-heading has-text-align-center has-black-color has-vivid-green-cyan-background-color has-text-color has-background has-medium-font-size\"><span class=\"ez-toc-section\" id=\"Chapter_10_%E2%80%93_Economic_Planning_in_India\"><\/span><strong>Chapter 10 &#8211; <\/strong>Economic Planning in India<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-cyan-bluish-gray-background-color has-background\"><span class=\"ez-toc-section\" id=\"Q_1_Choose_the_correct_option\"><\/span>Q. 1. Choose the correct option<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong>1) Statements that are true about the Planning Commission :<br><\/strong>a) Planning Commission was established in 1950.<br>b) The Prime Minister is the Ex-Officio Chairman of Planning Commission.<br>c) Economic planning is a time-bound programme.<br>d) Economic planning is based on predetermined objectives.<br><strong>Options :<br><\/strong>1) a and b <br><strong><span class=\"has-inline-color has-vivid-purple-color\">2) a, b, c and d<br><\/span><\/strong>3) a and c <br>4) None of these<\/p>\n\n\n\n<p><strong>2) Statements that are incorrect regarding India&#8217;s five year plans :<br><\/strong>a) The main objective of first five-year plan was development of agriculture.<br>b) Social welfare and poverty eradication were the prime objectives of the seventh five-year plan.<br>c) By the second five-year plan, focus increased on faster, inclusive growth.<br>d) Development of both agriculture and industry were the main objectives of the third five year plan.<br><strong>Options : <br><\/strong>1) a <br>2) a, b and d<br><strong><span class=\"has-inline-color has-vivid-purple-color\">3) c <br><\/span><\/strong>4) b and d<\/p>\n\n\n\n<p><strong>3) Identify the correct pairs from the given options :<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong>A<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>B<\/strong><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">1) Economic Planning<\/td><td class=\"has-text-align-center\" data-align=\"center\">a) Selection by Prime Minister<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">2) Twelfth Five Year Plan<\/td><td class=\"has-text-align-center\" data-align=\"center\">b) Think Tank group of Indian Government<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">3) NITI Aayog<\/td><td class=\"has-text-align-center\" data-align=\"center\">c) Fast and sustainable growth<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">4) NITI Aayog ice-Chairperson<\/td><td class=\"has-text-align-center\" data-align=\"center\">d) Time-bound program<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><strong>Options : <br><\/strong>1) 1-c, 2-a, 3-d, 4-b <br>2) 1-d, 2-b, 3-a, 4-c<br><strong><span class=\"has-inline-color has-vivid-purple-color\">3) 1-d, 2-c, 3-b, 4-a <br><\/span><\/strong>4) 1-b, 2-d, 3-c, 4-a<\/p>\n\n\n\n<p><strong>4) Choose the correct statement :<br>Statement 1<\/strong> &#8211; NITI Aayog takes note of dynamic change in the Indian economy.<br><strong>Statement 2<\/strong> &#8211; Considering the economic, social, and technological differences in underdeveloped districts, the body plans to implement various programmes and bring about economic changes.<br><strong>Options :<br><\/strong>a) statement 1 is correct<br>b) statement 2 is correct<br><strong><span class=\"has-inline-color has-vivid-purple-color\">c) statement 2 is the result of statement 1<br><\/span><\/strong>d) there is no relation between statement 1 and statement 2.<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-cyan-bluish-gray-background-color has-background\"><span class=\"ez-toc-section\" id=\"Q_2_Give_economic_terms\"><\/span>Q. 2. Give economic terms<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>1) Conscious and deliberate choice of economic priorities by some public authority. &#8211; <strong><span style=\"text-decoration: underline;\">Economic Planning<\/span><\/strong><br>2) A group of people called forth by the government to discuss various problems and also try to find solutions to them. &#8211; <strong><span style=\"text-decoration: underline;\">Think Tank<\/span><\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-cyan-bluish-gray-background-color has-background\"><span class=\"ez-toc-section\" id=\"Q_3_Identify_and_explain_the_concepts_from_the_given_illustrations\"><\/span>Q. 3. Identify and explain the concepts from the given illustrations<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong><span class=\"has-inline-color has-vivid-purple-color\">1) Sayali&#8217;s mother maintains a book of accounts for household purpose and plans the expenditure accordingly.<br><\/span>Concept:<\/strong> <strong><strong>Economic planning<\/strong><br>Explanation:<\/strong> Economic planning is a time bound programme to achieve certain objectives with the help of available resources by the planning authority.<\/p>\n\n\n\n<p><strong><span class=\"has-inline-color has-vivid-purple-color\">2) Ramabai gets a subsidy on domestic LPG directly transferred to her bank a\/c.<br><\/span>Concept: Service Delivery<br>Explanation:<\/strong> It is one of the important objective of 12th five year plan. Major subsidies and welfare related<br>beneficiaries to be shifted to a direct cash transfer by using the Aadhar platform linked with bank accounts.<\/p>\n\n\n\n<p><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-purple-color\">3) To solve classroom related issues, the teacher forms a group of students. This group discusses the problems and finds solutions to it.<\/mark><\/strong><br><strong>Concept: Think-tank<br>Explanation:<\/strong> Think-tank is a group of experts who are gathered together by an organisation in order to consider various problems, try and work out ways to solve them.<\/p>\n\n\n\n<p class=\"has-text-align-center\"><strong><a href=\"https:\/\/scholarsclasses.com\/blog\/11th-commerce-notes-maharashtra-board\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-commerce-notes-maharashtra-board\/\">Solution of other subjects<br><\/a><a href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-textbook-solutions-maharashtra-board\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-textbook-solutions-maharashtra-board\/\">Solution of all Chapters of Economics<br><\/a> <a href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-1-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-1-exercise\/\">1<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-2-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-2-exercise\/\" target=\"_blank\" rel=\"noreferrer noopener\">2<\/a>&#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-3-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-3-exercise\/\">3<\/a><strong> &#8211;<\/strong> <a href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-4-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-4-exercise\/\">4<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-5-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-5-exercise\/\">5<\/a><\/strong> <strong>&#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-6-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-6-exercise\/\">6<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-7-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-7-exercise\/\">7<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-8-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-8-exercise\/\">8<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-9-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-9-exercise\/\">9<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-10-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-10-exercise\/\">10<\/a><\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-cyan-bluish-gray-background-color has-background\"><span class=\"ez-toc-section\" id=\"Q4_Answer_the_Following\"><\/span>Q.4. Answer the Following<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong><span class=\"has-inline-color has-vivid-purple-color\">1) Explain the features of Economic Planning.<\/span><\/strong><\/p>\n\n\n\n<p><strong>Answer:<\/strong> <strong><strong>Economic planning has the following features<\/strong><\/strong><br><strong>1) <span style=\"text-decoration: underline;\">Central Planning Authority<\/span>  <br><\/strong>Central Planning Authority in a country undertake  economic planning. In India, it was known as Planning Commission. It has been replaced by National Institution for Transforming India i.e. NITI Aayog since 2015.<\/p>\n\n\n\n<p><strong>2) <span style=\"text-decoration: underline;\">A Survey<\/span><br><\/strong>A comprehensive survey of the economy is undertaken regarding the availability and utilisation of human and<br>natural resources.<\/p>\n\n\n\n<p><strong>3) <span style=\"text-decoration: underline;\">Objectives<\/span><br><\/strong>Economic planning is based on certain pre-determined objectives which are realistic and flexible.<\/p>\n\n\n\n<p><strong>4) <span style=\"text-decoration: underline;\">Priorities and targets<\/span><br><\/strong>Priorities are fixed according to the importance of each sector for accelerating economic development.<br>Target is the concrete step towards the attainment of objectives.<\/p>\n\n\n\n<p><strong>5) <span style=\"text-decoration: underline;\">Mobilisation of Resources<\/span> <br><\/strong>The resources needed for planning are mobilised through various sources like taxation, domestic savings, deficit financing, public debt, external assistance etc.<\/p>\n\n\n\n<p><strong>6) <span style=\"text-decoration: underline;\">Plan Period<\/span><br><\/strong>Plan period varies as per needs. In countries like India, planning is generally for a period of five years.<\/p>\n\n\n\n<p><strong>7) <span style=\"text-decoration: underline;\">Evaluation<\/span><br><\/strong>Periodic assessment such as mid term appraisal is done to incorporate necessary changes in priorities and targets of the plan.<\/p>\n\n\n\n<p><strong>8) <span style=\"text-decoration: underline;\">Continuous Process<\/span> <br><\/strong>Economic planning is a continuous process. It aims at economic  development of the country.<\/p>\n\n\n\n<p><strong>9) <span style=\"text-decoration: underline;\">Co-ordination<\/span> <br><\/strong>States of the country also undertake economic planning along with the centre. Thus, co-ordination between the centre and states is ensured.<\/p>\n\n\n\n<p><strong>10) <span style=\"text-decoration: underline;\">Flexibility<\/span> <br><\/strong>Central Planning Authority maintains flexibility in its approach. This makes it possible to incorporate necessary<br>changes in the plan as per requirements during its implementation.<\/p>\n\n\n\n<p><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-purple-color\"><strong>2) Explain the targets of 12th Five Year plan.<\/strong><\/mark><\/p>\n\n\n\n<p><strong>Answer:<\/strong> <strong>Following were the targets of 12th five year plan<\/strong>:<br><strong>1) <span style=\"text-decoration: underline;\">Economic Growth<\/span> <br><\/strong>\u2022 Real GDP growth rate at 8% to be achieved.<br>\u2022 Agriculture growth rate at 4.0% to be gained.<br>\u2022 Manufacturing or Industrial growth rate at 10% to be achieved.<br>\u2022 Every State must have a higher average growth rate in the 12th plan than what was achieved in the 11th plan.<\/p>\n\n\n\n<p><strong>2) <span style=\"text-decoration: underline;\">Poverty and Employment<\/span><br><\/strong>\u2022 To reduce head-count ratio of poverty by 10%.<br>\u2022 To create 50 million new work opportunities in the non-farm sector.<\/p>\n\n\n\n<p><strong>3) <span style=\"text-decoration: underline;\">Education<\/span><br><\/strong>\u2022 Mean years of schooling to increase to seven years by the end of the twelfth plan.<br>\u2022 Access to higher education with reference to skill development.<br>\u2022 Eliminate gender and social gap in school enrolment by the end of this plan.<\/p>\n\n\n\n<p><strong>4) <span style=\"text-decoration: underline;\">Health<\/span><br><\/strong>\u2022 Reduce total fertility rate to 2.1%<br>\u2022 Reduce undernutrition among children in the age group of 0 to 3 years to half of the NFHS-3 levels.<\/p>\n\n\n\n<p><strong>5) <span style=\"text-decoration: underline;\">Infrastructure<\/span><br><\/strong>\u2022 Investment in infrastructure to be increased to 9% of GDP.<br>\u2022 Connect all villages with all weather roads.<br>\u2022 Increase in rural tele vision and telephone density to 70%<\/p>\n\n\n\n<p><strong>6) <span style=\"text-decoration: underline;\">Environment and sustainability<\/span><br><\/strong>\u2022 Increase green cover by 1 million hectare every year during the 12th plan period.<\/p>\n\n\n\n<p><strong>7) <span style=\"text-decoration: underline;\">Service Delivery<\/span><br><\/strong>\u2022 Provide access to banking services to 90% Indian households by the end of the plan.<br>\u2022 Major subsidies and welfare related beneficiaries to be shifted to a direct cash transfer by using the Aadhar platform linked with bank accounts.<\/p>\n\n\n\n<p><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-purple-color\"><strong>3) Explain the structure of NITI Aayog.<\/strong><\/mark><\/p>\n\n\n\n<p><strong>Answer:<\/strong> <strong><strong>Structure of NITI Aayog<\/strong><\/strong>:<br>The Resolution dated 1st January 2015 and its subsequent amendment dated 16 th February 2015, provides for the structure of NITI Aayog as follows :<\/p>\n\n\n\n<p><strong>1) <span style=\"text-decoration: underline;\">Governing Council<\/span><br><\/strong>Comprising of the Chief Ministers of all States and Governors of Union Territories.<\/p>\n\n\n\n<p><strong>2) <span style=\"text-decoration: underline;\">Regional Councils<\/span> <br><\/strong>These would be formed to address specific issues and contingencies impacting more than one state or region.<\/p>\n\n\n\n<p><strong>3) <span style=\"text-decoration: underline;\">Special Invitees<\/span><br><\/strong>These would include experts, specialists and practitioners with relevant knowledge who will be nominated by the Prime Minister.<\/p>\n\n\n\n<p><strong>4) <span style=\"text-decoration: underline;\">Organisational Framework<\/span><\/strong><br>\u2022 <strong>Chairperson<\/strong> : Prime Minister of India<br>\u2022 <strong>Vice Chairperson<\/strong> : To be appointed by the Prime Minister.<br>Full time members &#8211; 5<br>Part time members &#8211; 2<br>\u2022 <strong>Ex-Officio Members<\/strong> : Maximum of 4 members of the Union Council of Ministers to be nominated by the Prime Minister.<br>\u2022 <strong>Chief Executive Officer (CEO)<\/strong> : To be appointed by the Prime Minister for a fixed tenure, in the rank of Secretary to the Government of India.<br>\u2022 <strong>Secretariat<\/strong>&#8211; As deemed necessary.<\/p>\n\n\n\n<p><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-purple-color\"><strong>4) Explain the functions of NITI Ayog.<\/strong><\/mark><\/p>\n\n\n\n<p><strong>Answer:<\/strong> <strong><strong>Functions of NITI Aayog<\/strong><\/strong>:<br><strong>1) <span style=\"text-decoration: underline;\">Shared National Agenda<\/span><br><\/strong>Evolves a shared vision of national development priorities and strategies with the active involvement of states. This will provide a framework of &#8216;National Agenda&#8217; for the Prime Minister and Chief Ministers to implement.<\/p>\n\n\n\n<p><strong>2) <span style=\"text-decoration: underline;\">States&#8217; Best Friend at the Centre<\/span><br><\/strong>Supports states in addressing their own challenges, building on strengths and comparative advantages. This will be through various means such as co-ordinating with Ministries, championing their ideas at the centre, providing consultancy support and building capacity.<\/p>\n\n\n\n<p><strong>3) <span style=\"text-decoration: underline;\">Decentralized Planning<\/span><br><\/strong>Restructuring the planning process into bottom-up model, from village-level i.e. local government to national level or central government.<\/p>\n\n\n\n<p><strong>4) <span style=\"text-decoration: underline;\">Knowledge and Innovation Hub<\/span> <br><\/strong>Be an accumulator as well as booster of research and best practices on good governance, through a State-of-the-art Resource centre which identifies, analyses, shares and facilitates replication of the same.<\/p>\n\n\n\n<p><strong>5) <span style=\"text-decoration: underline;\">Monitoring and Evaluation<\/span><br><\/strong>Monitor the implementation of policies and programmes and evaluate their impact through rigorous tracking of performance metrics and comprehensive programme evaluations. This will identfy weaknesses and bottlenecks for necessary course correction, enable date- driven policy making, encouraging greater efficiency and effectiveness.<\/p>\n\n\n\n<p><strong>6) <span style=\"text-decoration: underline;\">Co-operative and Competitive Federalism<\/span> <br><\/strong>Be the primary platform for operationalizing co-operative federalism, enabling states to have active participation in the formulation of national policy and achieving time-bound implementation of quantitative and qualitative targets through the combined authority of the Prime Minister and Chief Ministers of the states.<\/p>\n\n\n\n<p><strong>7) <span style=\"text-decoration: underline;\">Others Functions<\/span><\/strong><br>\u2022 Inter consultancy<br>\u2022 Conflict Resolution<br>\u2022 Technological upgradation<\/p>\n\n\n\n<p><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-purple-color\">5) Distinguish between Planning Commission and NITI Aayog. <\/mark> <\/strong><\/p>\n\n\n\n<p><strong>Answer:<\/strong> <\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong>Planning Commission<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>NITI Aayog<\/strong><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">1) Planning Commission was established on 15th March 1950.<\/td><td class=\"has-text-align-center\" data-align=\"center\">1) NITI Aayog was established on 1st January 2015.<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">2) Planning Commission enjoyed the powers to allocate funds to Ministry and State governments.<\/td><td class=\"has-text-align-center\" data-align=\"center\">2) NITI Aayog is an advisory body or a think tank that performs the function of allocation of funds.<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">3) Role of states was restricted to the National Development Council (NDC) and annual interaction during Plan meetings.<\/td><td class=\"has-text-align-center\" data-align=\"center\">3) State governments are expected to play a more significant role.<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">4) Secretaries or member secretaries were appointed through the usual process.<\/td><td class=\"has-text-align-center\" data-align=\"center\">4) Secretary known as CEO, to be appointed by the Prime Minister.<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">5) Planning Commission had no provision for part-time members.<\/td><td class=\"has-text-align-center\" data-align=\"center\">5) NITI Aayog has a number of part time members, depending on the need from time to time.<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">6) Planning Commission had a Chairperson, a Member Secretary and full time members.<\/td><td class=\"has-text-align-center\" data-align=\"center\">6) NITI Aayog comprises of Chairperson, Vice-Chairperson, Full time members, Part-time members, Ex-officio members and CEO of Secretary Rank.<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">7) Planning Commission framed policies for States and tied allocation of funds with approval of the project.<\/td><td class=\"has-text-align-center\" data-align=\"center\">7) NITI Aayog is only a think tank and does not have the powers to frame policies.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"has-text-align-center\"><strong><a href=\"https:\/\/scholarsclasses.com\/blog\/11th-commerce-notes-maharashtra-board\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-commerce-notes-maharashtra-board\/\">Solution of other subjects<br><\/a><a href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-textbook-solutions-maharashtra-board\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-textbook-solutions-maharashtra-board\/\">Solution of all Chapters of Economics<br><\/a> <a href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-1-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-1-exercise\/\">1<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-2-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-2-exercise\/\" target=\"_blank\" rel=\"noreferrer noopener\">2<\/a>&#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-3-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-3-exercise\/\">3<\/a><strong> &#8211;<\/strong> <a href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-4-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-4-exercise\/\">4<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-5-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-5-exercise\/\">5<\/a><\/strong> <strong>&#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-6-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-6-exercise\/\">6<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-7-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-7-exercise\/\">7<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-8-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-8-exercise\/\">8<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-9-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-9-exercise\/\">9<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-10-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-10-exercise\/\">10<\/a><\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-cyan-bluish-gray-background-color has-background\"><span class=\"ez-toc-section\" id=\"Q5_State_with_reasons_whether_you_agree_or_disagree_with_the_following_statements\"><\/span>Q.5. State with reasons whether you agree or disagree with the following statements<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong><span class=\"has-inline-color has-vivid-purple-color\">1) State governments have a more significant role to play under NITI Aayog. <\/span><\/strong> <strong><span class=\"has-inline-color has-vivid-purple-color\"> <\/span><\/strong><\/p>\n\n\n\n<p><strong>Answer: Yes, I agree with this statement.<br>Reasons:<\/strong> a) NITI Aayog assumes the active role of states in implementing plans. NITI Aayog provides a framework for the national agenda for the PM and CM for implementation. <br>b) NITI Aayog Supports states in addressing their challenges, building on strengths and comparative<br>advantages.<br>c)<strong> <\/strong>This will be through various means such as co-ordinating with Ministries, championing their ideas at the<br>centre, providing consultancy support and building capacity.<br>d) Thus, State governments have a more significant role to play under NITI Aayog.<\/p>\n\n\n\n<p><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-purple-color\"><strong>2) Functions of Planning Commission has been transferred to NITI Ayog. <\/strong><\/mark><\/p>\n\n\n\n<p><strong>Answer: Yes, I agree with this statement.<br>Reasons:<\/strong> a) Central Planning Authority in a country undertakes economic planning. In India, it was known as Planning Commission.<br>b) Planning Commission has been replaced by National Institution for Transforming India i.e. NITI Aayog since 2015.<br>c) Resolution of NITI Aayog was sanctioned on 1st January 2015, but its actual execution started after completing the 12th five-year plan.<br>d) Thus, Functions of Planning Commission has been transferred to NITI Ayog.<\/p>\n\n\n\n<p><strong><span class=\"has-inline-color has-vivid-purple-color\">3) The objective of the 12th five-year plan was to achieve faster, sustainable and inclusive growth.<\/span><\/strong><\/p>\n\n\n\n<p><strong>Answer: Yes, I agree with this statement.<br>Reasons:<\/strong> a) Real GDP growth rate at 8% to be achieved, agriculture growth rate at 4.0% to be gained and, manufacturing or Industrial growth rate at 10% to be achieved.<br>b) To reduce head-count ratio of poverty by 10%. To create 50 million new work opportunities in the non-farm sector.<br>c) It also had the target of spreading education and health facilities, developing infrastructure, sustaining the environment, etc.<br>d) Thus, the objective of the 12th five-year plan was to achieve faster, sustainable and inclusive growth.<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-cyan-bluish-gray-background-color has-background\"><span class=\"ez-toc-section\" id=\"Q7_Read_the_following_passage_carefully_and_answer_the_questions\"><\/span>Q.7. Read the following passage carefully and answer the questions.<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">The Finance Minister of the Central Government presents the Union Budget before the Parliament during the month of February every year. The budget, also referred to as the annual financial statement reflects the estimated receipts and expenditures of the government for a particular financial year that begins on the 1st of April and ends on 31st March. Changes in the tax structure are suggested in the budget. Besides this, provisions are also made for allocating expenditure on defence, education, research and development etc. The date for presenting the budget has been shifted to the 1st of February every year. This enables generation of funds well in advance prior to the commencement of the financial year.<\/mark><\/p>\n\n\n\n<p><strong>1) Where is the Union Budget usually presented?<br>Answer:<\/strong> The Union Budget is presented in the parliament.<\/p>\n\n\n\n<p><strong>2) What all aspects are considered while preparing the budget?<br>Answer:<\/strong> Changes in the tax structure, provisions for allocating expenditure on defence, education, research and development etc.<\/p>\n\n\n\n<p><strong>3) Why is the date for presenting the budget shifted to the 1st of February?<br>Answer:<\/strong> The date for presenting the budget has been shifted to the 1st of February. This enables the generation of funds well in advance prior to the commencement of the financial year.<\/p>\n\n\n\n<p><strong>4) Explain the term &#8216;budget&#8217;.<br>Answer:<\/strong> The budget is the annual financial statement that reflects the estimated receipts and expenditures of the government for a particular financial year.<\/p>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:100%\">\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:100%\">\n<h3 class=\"wp-block-heading has-text-align-center\"><span class=\"ez-toc-section\" id=\"Solution_of_all_Chapters_of_Economics\"><\/span>Solution of all Chapters of Economics<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong>Chapter Name <\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>Solution Link<\/strong><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">1) Basic Concepts in Economics<\/td><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-1-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-1-exercise\/\">Solution<\/a><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">2) Money<\/td><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-2-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-2-exercise\/\">Solution<\/a><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">3) Partition Values<\/td><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-3-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-3-exercise\/\">Solution<\/a><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">4) The Economy of Maharashtra<\/td><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-4-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-4-exercise\/\">Solution<\/a><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">5) Rural Development in India<\/td><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-5-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-5-exercise\/\">Solution<\/a><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">6) Population in India<\/td><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-6-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-6-exercise\/\">Solution<\/a><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">7) Unemployment in India<\/td><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-7-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-7-exercise\/\">Solution<\/a><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">8) Poverty in India<\/td><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-8-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-8-exercise\/\">Solution<\/a><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">9) Economic Policy of India Since 1991<\/td><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-9-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-9-exercise\/\">Solution<\/a><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">10) Economic Planning in India<\/td><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-10-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-10-exercise\/\">Solution<\/a><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center\"><span class=\"ez-toc-section\" id=\"Check_out_other_posts_related_to_the_11th_Commerce\"><\/span>Check out other posts related to the 11th Commerce<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong>Textbook Solutions of 11th Commerce (All Subjects)<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/11th-commerce-notes-maharashtra-board\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-commerce-notes-maharashtra-board\/\">Click <\/a><a href=\"https:\/\/scholarsclasses.com\/blog\/11th-commerce-notes-maharashtra-board\/\" target=\"_blank\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-commerce-notes-maharashtra-board\/\" rel=\"noreferrer noopener\">Here<\/a><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong> Free pdf of 11th Commerce Textbooks <\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/11th-commerce-books-pdf\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-commerce-books-pdf\/\">Click Here<\/a><\/td><\/tr><\/tbody><\/table><\/figure>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>&#46;&#46;&#46;<\/p>\n","protected":false},"author":1,"featured_media":15035,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[5],"tags":[4617],"class_list":["post-14882","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hsc-maharashtra-board","tag-11th-economics-chapter-10-exercise"],"_links":{"self":[{"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/posts\/14882","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/comments?post=14882"}],"version-history":[{"count":13,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/posts\/14882\/revisions"}],"predecessor-version":[{"id":36738,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/posts\/14882\/revisions\/36738"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/media\/15035"}],"wp:attachment":[{"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/media?parent=14882"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/categories?post=14882"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/tags?post=14882"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}