THANE POLICE SCHOOL
ACADEMIC YEAR 2024-2025
Name of the student: ___________________________ Roll No. _______
Class: IX Div.: ______ Topic: Economic Development
Date: 14/09/2024 Notes (Pages-5)
I Explain the concepts-
1. Mixed Economy
i) In a capitalist system, the means of production are privately owned. In a
socialist economy, the means of production are owned by the State in the
name of the society.
ii) A mixed economy works both in the private and the public sector.
iii) The industries like defence, scientific research, education, roads, railways,
waterways, sea port and airport development.
iv) For mixed economy to run smoothly there is a need for coordination
between the private sector and the public sector.
v) This system aims at maximisation of production and social welfare on
a large scale.
vi) An effort has been made in this system to bring together the good aspects of
both the capitalist and the socialist systems.
vii) A mixed economy cannot ignore the profit motive, entrepreneurship,
discipline, time bound planning, etc.
viii) A mixed economy cannot ignore the profit motive, entrepreneurship,
discipline, time bound planning, etc.
2. 20 Point Programme
The main provisions of the 20 point programme are as follows :
1) Land ceiling for cities and agricultural land, equal distribution of wealth,
minimum wages for workers, increase in water conservation schemes.
2) Workers’ participation in industry, national training scheme, freeing bonded
labour.
3) Prevention of tax evasion, economic crimes and smuggling.
4) Regulation of prices of essential commodities, improvements in the public
distribution system.
1
, 5) Improvement in the textile industry by developing the handloom sector,
waiving loans for weaker sections, housing, communication facilities,
making educational equipment available to schools.
II. Give reasons for the following statements:
1. Independent India opted for a mixed economy.
1) India adopted mixed economy after independence under the leadership of
Pandit Jawaharlal Nehru.
2) This system brings together the good aspects of both the capitalists and
socialist system.
3) Economic development was a priority before India after her independence.
4) Economic development requires development of basic and heavy industries
which required huge capital investment but the returns are delayed.
5) Not many private industries are keen to invest in these areas.
7) In such a situation, the government has to take initiative and thus India
adopted mixed economy.
2. Banks were nationalised in 1969.
1) Banking was a monopoly of the private sector.
2) Banks were working towards developing industrial sector and increasing its
profits.
3) India had adopted a mixed economy after independence.
4) Nationalisation of banks was essential to cover the deficits if they occurred
while implementing different schemes.
5) Also the profits of these banks would come into the government treasury
once they were nationalised.
6) Along with this, the policy of developing small industries and
pharmaceutical industries had to be implemented.
7) ‘Congress Forum for Socialist Action’, a group in the Congress party
inspired by socialist ideas made a demand for nationalisation of commercial
banks which was supported by the Communist Party.
2
ACADEMIC YEAR 2024-2025
Name of the student: ___________________________ Roll No. _______
Class: IX Div.: ______ Topic: Economic Development
Date: 14/09/2024 Notes (Pages-5)
I Explain the concepts-
1. Mixed Economy
i) In a capitalist system, the means of production are privately owned. In a
socialist economy, the means of production are owned by the State in the
name of the society.
ii) A mixed economy works both in the private and the public sector.
iii) The industries like defence, scientific research, education, roads, railways,
waterways, sea port and airport development.
iv) For mixed economy to run smoothly there is a need for coordination
between the private sector and the public sector.
v) This system aims at maximisation of production and social welfare on
a large scale.
vi) An effort has been made in this system to bring together the good aspects of
both the capitalist and the socialist systems.
vii) A mixed economy cannot ignore the profit motive, entrepreneurship,
discipline, time bound planning, etc.
viii) A mixed economy cannot ignore the profit motive, entrepreneurship,
discipline, time bound planning, etc.
2. 20 Point Programme
The main provisions of the 20 point programme are as follows :
1) Land ceiling for cities and agricultural land, equal distribution of wealth,
minimum wages for workers, increase in water conservation schemes.
2) Workers’ participation in industry, national training scheme, freeing bonded
labour.
3) Prevention of tax evasion, economic crimes and smuggling.
4) Regulation of prices of essential commodities, improvements in the public
distribution system.
1
, 5) Improvement in the textile industry by developing the handloom sector,
waiving loans for weaker sections, housing, communication facilities,
making educational equipment available to schools.
II. Give reasons for the following statements:
1. Independent India opted for a mixed economy.
1) India adopted mixed economy after independence under the leadership of
Pandit Jawaharlal Nehru.
2) This system brings together the good aspects of both the capitalists and
socialist system.
3) Economic development was a priority before India after her independence.
4) Economic development requires development of basic and heavy industries
which required huge capital investment but the returns are delayed.
5) Not many private industries are keen to invest in these areas.
7) In such a situation, the government has to take initiative and thus India
adopted mixed economy.
2. Banks were nationalised in 1969.
1) Banking was a monopoly of the private sector.
2) Banks were working towards developing industrial sector and increasing its
profits.
3) India had adopted a mixed economy after independence.
4) Nationalisation of banks was essential to cover the deficits if they occurred
while implementing different schemes.
5) Also the profits of these banks would come into the government treasury
once they were nationalised.
6) Along with this, the policy of developing small industries and
pharmaceutical industries had to be implemented.
7) ‘Congress Forum for Socialist Action’, a group in the Congress party
inspired by socialist ideas made a demand for nationalisation of commercial
banks which was supported by the Communist Party.
2
