(i) Income is included in HDI and excluded in PQLI.
(ii) HDI represents physical and financial attributes of development. PQLI has only physical aspects of life.

(i) Indian agriculture is still a gamble of the monsoons.
(ii) This strategy needs heavy investment in seeds, fertilizers, pesticides and water.
(iii) Gap between irrigated and rain fed areas had widened.
(iv) Farm mechanization created unemployment.
(v) Larger chemical use reduced the soil fertility and spoiled human health.

Who owns the land; Who cultivates the land; Who is responsible for paying the land revenue to the government.

(i) Zamindari system
(ii) Mahalwari system
(iii) Ryotwari system.

(i) Period of merchant capital
(ii) Period of industrial capital
(iii) Period of finance capital.

(i) Morris D Morris developed the Physical Quality of Life Index (PQLI).
(ii) It is a measure to calculate the quality of life
(iii) He included life expectancy, infant mortality rate and literacy rate. A scale of each indicator ranges from 1 to 100.
(iv) Number 1 represents worst performance of any country.
(v) 100 is the best performance. Eg. in case of life expectancy, the upper limit is 100.
(vi) This was assigned to 77 years which was achieved by Sweden in 1973.
(vii) The lower limit 1 was assigned to 28 years achieved by Guinea-Bissau in 1960.
(viii) The difference between HDI and PQLI is the inclusion of income.
(ix) In HDI income is included and it represents both physical and financial aspects of development.
(x) In PQLI income is excluded and only physical aspects of life are considered.

(i) Twelfth Five Year Plan period was 2012 - 2017.
(ii) Its main theme is "Faster, more inclusive and sustainable growth".
(iii) Its growth rate target is 8%.

(i) The policy aimed at correcting the weaknesses and rigidities in the various sectors of the economy - industry, trade, fiscal and agriculture.
(ii) To liberate the industry from licensing system.
(iii) To reduce the role of public sector.
(iv) To encourage foreign participation in India's industrial development.

Zamindari system or Landlord-Tenant system:
(i) In 1793, Lord Cornwallis introduced Permanent Settlement Act.
(ii) Zamindars were the owners of the land and had to pay land revenue to the government.
(iii) The share of the government in total rent collected was fixed at 10/11th, the balance went to the Zamindar as remuneration.
Mahalwari system or Communal Farming system:
(i) This system was followed in Madhya Pradesh and Punjab.
(ii) The ownership of the land was maintained by a collective body of villagers.
(iii) They distributed land among the peasants, collected revenue from them and paid it to the state.
Ryotwari system or Owner-Cultivator system:
(i) This system was first introduced in TamilNadu and later to Maharashtra, Gujarat, Assam, Coorg, East Punjab and Madhya Pradesh.
(ii) The ownership rights of use and control of land were held by the tiller himself.
(iii) There was direct relationship between owners and tillers. This system was the least oppressive system before Independence.

(i) Indian handicraft products had worldwide market. India exported hand-woven cotton and silk fabrics, Calicoes, artistic wares, wood carving.
(ii) Through discriminatory tariff policy, the British government purposefully destroyed the handicrafts.
(iii) With the disappearance of nawabs and kings, there was no one to protect the Indian handicrafts.
(iv) The Indian products could not compete with machine-made products.
(v) The introduction of railways in India increased the domestic market for British goods.

(i) Short term goal 8.29% growth rate.
(ii) The theme was faster, sustainable and more inclusive growth. For this purpose it seeks to achieve 4% growth in agriculture 10% in manufacturing sector.
(iii) The total budget was 47.7 lakh crore which is 135% more than that of the 11th plan.
Broad Objectives
(i) To reduce poverty.
(ii) To improve living conditions for SCs, STs, OBCs, Minorities.
(iii) To improve regional equality.
(iv) To generate attractive employment.
(v) To eliminate gender gaps.
Growth indicators
(i) It aims at average GDP growth rate of 8%.
(ii) It aims at generating 50 millions work opportunities in non farm sector.
(iii) Reducing IMR to 25, MMR to 100 and Total fertility rate to 2% Achieving universal road connectivity and power for all villages.
(iv) Provision of banking services for 90% households.
(v) Major welfare benefits and subsidies via Aadhaar card.
(iv) Secondary education for all by 2017.
(vi) Increase public spending to 2.5% of GDP
(vii) Getting 5 Indian universities in the list of top 200 universities in the world.
(viii) Eliminate gender and social gap in school enrollment.
(ix) Increasing green cover by 1 million hectare every year

Introduction:
(i) The main objective of economic planning was social welfare. Before Independence commercial banks were in the private sector.
(ii) These commercial banks failed in helping the government to achieve the objectives.
(iii) So the government nationalised 14 major commercial banks in 1969 and 6 more in 1980.
Objectives:
(i) The main objective was to attain social welfare.
(ii) Agriculture, small & village industries were in need of funds for their expansion.
(iii) Nationalisation of banks helped to curb private monopolies in order to ensure a smooth supply of credit to socially desirable sections.
(iv) In India 70% population live in villages.
(v) It was needed to encourage the banking habit among the rural population.
(vi) It was required to reduce the regional imbalances where the banking facilities were not available.
(vii) Before Independence the number of banks were less.
(viii) After nationalization, new bank branches were opened in rural and urban areas.
(ix) Banks created credit facilities to the agriculture sector and its allied activities.

Introduction :
(i) Small scale industries play an important role for the development of Indian economy.
(ii) 60 - 70% of total innovations in India comes from SSIs.
Provides employment:
(i) SSIs use labour intensive techniques.
(ii) They provide employment to artisans, technically qualified persons and professionals, people engaged in traditional arts, people in villages and unorganized sector.
(iii) The employment-capital ratio is high.
Brings balanced regional development:
(i) SSIs are set up in backward and rural areas.
(ii) This promotes decentralised development of industries.
(iii) They reduce congestion, slums, sanitation and pollution in cities since they are found outside city limits.
(iv) They improve the standard of living of people in suburban and rural areas
(v) The entrepreneurial talent is tapped from different regions.
Helps in mobilization of local resources:
(i) SSIs mobilize and use local resources like small savings, entrepreneurial talent etc of the entrepreneurs which might have remained idle.
(ii) It promotes traditional family skills and handicrafts.
Paves for optimisation of capital:
(i) SSIs needs less capital. They give quick profit due to shorter gestation period.
(ii) SSIs functions as a stabilizing force by providing high output-capital ratio and high employment capital ratio.
(iii) They encourage people living in rural areas to save and channelize them into industrial activities.
Promotes export:
(i) Since they do not need sophisticated machinery, import of machinery from abroad is not needed.
(ii) There is great demand for goods produced by SSIs.
(iii) They reduce the pressure on balance of payment as they earn foreign exchange
Complements large scale industries:
(i) They provide components, parts, accessories to large scale industries.
(ii) They serve as ancillaries to large scale units.
Meets consumer demand:
(i) SSIs produce a wide range of consumer products.
(ii) They serve as an anti-inflationary force by providing goods of daily use.
Develops entrepreneurship:
(i) SSIs help to develop entrepreneurs.
(ii) They help the job seekers to become job givers.
(iii) They promote self-employment and a spirit of self-reliance.
(iv) It increases the per capita income of India.
(v) There is development of backward areas and weaker sections.
(vi) It helps in equitable distribution of income.