Economics and Commerce Notes for TNUSRB SI Exam 2022

The TNUSRB has conducted an exam every year for recruiting SI posts. The candidates who wish to prepare for the exam should know the exam syllabus and pattern thoroughly. The study notes for each topic will help the candidates prepare well for the exam. The ENTRI Learning App provides you the entire notes regarding the TNUSRB SI exam in PDF format also. Here we discussed the topic of Economics and Commerce in the written exam.

Economics and Commerce Notes for TNUSRB SI Exam

The Economics and Commerce section Consists of various sub-topics as follows:

•  Agriculture
•  Main Crops and Crop Pattern in India
•  Industrial Development
• Main, Medium, Small Scale, and Cottage Industries of Tamil Nadu village 
• Rural Development of India
• Five-year planning

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AGRICULTURE IN INDIA 

Agriculture is the prior source of livelihood for about 58 percent of India’s population. Gross Value Counted by agriculture, forestry, and fishing is calculated at Rs 17.67 trillion (US$ 274.23 billion) in Financial Year 2018. The economic assistance of agriculture to India’s GDP is steadily declining with the country’s broad-based economic development. Still, agriculture is demographically the most comprehensive economic sector and plays an important role in the overall socio-economic fabric of India.

India is predicted to achieve the enterprising goal of doubling farm income by 2022. The agriculture sector in India is expected to develop better momentum in the next few years due to improved investments in agricultural infrastructure such as irrigation facilities, warehousing, and cold storage. Similarly, the growing use of genetically modified crops will likely enhance the yield for Indian farmers. India is expected to be self-sufficient in pulses in the coming few years due to the concerted actions of scientists to get early-maturing varieties of pulses and the increase in minimum support price.

Major Crops in India

A large variety of crops are developed to meet the necessity of the growing population. Crops also provide raw materials for agro-based industries. The primary food crops are wheat, rice, maize, millets etc. Jute and cotton are fiber crops. Significant beverage crops are tea and coffee.

Industrial Development 

The monthly Index of Eight Core Industries (ICI) is considered as the production volume index. The objective of the ICI is to deliver an advanced indication of the production performance of industries of ‘core’ nature before the out of Index of Industrial Production (IIP) by the Central Statistics Office.

•     Coal-Office of the Coal Controller, Kolkata.
•     Crude Petroleum- 
•     Refinery Developments 
•     Natural Gas
•     Cement- Cement Section, Department of Industrial Policy & Promotion.
•     Steel-Joint Plant Committee, Kolkata.
•     Fertilizers-Department of Fertilizers, Ministry of Chemicals and Fertilizers.
•     Electricity-Central Electricity Authority.

Banking & Finance Committees In India 

Rural Development Programmes

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Five Year Plans in India

Planning Commission (1951- 2014) was set up on March 15, 1950. The Five-year plan system was adapted from Russia by Former Prime Minister Jawaharlal Nehru. From Jan 1, 2015, the planning commission was substituted by Niti Aayog.

The first five-year plan in India was established in 1951. India had established 12th five-year plans in 2012-17. Now the idea of the five-year plan is controlled by the Government of India. The list of all Five Year Plans of India is very essential for all types of competitive exams to be maintained in India.

First Five Year Plan:1. It was made from 1951 to 1956.

1. It was established on the Harrod-Domar model.

III. Its main emphasis was on the agricultural development of the country.

3. This plan was prosperous and achieved a growth rate of 3.6% (more than its target)

Second Five Year Plan:

3. It was made from 1956 to 1961.
4. It was based on the P.C. Mahalanobis Model.

III. Its main emphasis was on the industrial development of the country.

4. This plan was flourishing and attained a growth rate of 4.1%

Third Five Year Plan:

4. It was made from 1961 to 1966.
5. This plan is named ‘Gadgil Yojna’ also.

III. The main motive of this plan was to make the economy independent and to reach the self-active position of take-off.

1. Due to the china war, this plan could not achieve its growth target of 5.6%
2. Plan Holiday:
3. The duration of the planned holiday was from 1966 to 1969.
4. The main reason behind the planned holiday was the Indo-Pakistan war & the failure of the third plan.

III. During this plan, annual plans were created and equal emphasis was provided to agriculture its allied sectors, and the industry sector.

Fourth Five Year Plan:

1. Its period was from 1969 to 1974.
2. There were two major objectives of this plan i.e. development with stability and progressive attainment of self-reliance.

III. During this plan, the motto of “Garibi Hatao” is shown during the 1971 elections by Indira Gandhi.

3. This plan did not succeed and could attain a growth rate of 3.3% only against the target of 5.7%.

Economics and Commerce are another major important topic in TNUSRB SI Exam 2022. Here we discussed the details of the economics and commerce sectors of India for the TNUSRB SI Exam preparation. The candidates should go through the given study materials and prepare well for the exam. Our ENTRI Learning App also provides study materials regarding topics of the TNUSRB SI Exam. Visit our page for more pieces of information regarding the exam.