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Economics · Class 12 Commerce

Ch 8Industrial Sector — Class 12 Economics, concept-first.

The industrial sector occupies a central place in the process of economic development, and this is one of the core themes a TS Inter II year Economics learner has to master for the Industrial Sector unit.

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Key concepts

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Classification of Industries by Output and Scale

Industries are classified along two independent dimensions. By nature of output: basic/key industries (iron and steel, coal, power) supply essential inputs to the rest of the economy; capital-goods industries (machine to…

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Chapter contents

The NCERT structure, section by section. Open a section to see its questions, then read the concept-first solution.

1

Role and Importance of Industry in Economic Development

The industrial sector occupies a central place in the process of economic development, and this is one of the core themes a TS Inter II year Economics learner has to master for the Industrial Sector u…

2

Classification of Industries

Industries can be classified in more than one way, and TS Inter II year Economics exams commonly ask students to distinguish these classifications clearly rather than mixing them up.

3

India's Industrial Policies: 1948, 1956 and the New Industrial Policy of 1991

Industrial policy is the government's declared framework for the role of the public and private sectors, the regulation of private industry, and the treatment of small-scale and foreign investment.

4

Public Sector and Private Sector in Indian Industry

India's mixed-economy approach assigned distinct, evolving roles to the public and private sectors, and this comparison is a favourite short-note topic in Telangana Intermediate commerce industrial se…

5

Small-Scale Industries and MSMEs

Small-scale and village industries have always held a special place in Indian industrial policy, both for economic and for equity reasons, and today this segment is officially organised under the MSME…

6

Industrial Finance and Problems of Indian Industry

Industry needs finance both to set up new capacity (fixed capital for land, buildings and machinery) and to run day-to-day operations (working capital for raw material, wages and inventory).

Exercises

+Show 15 questions15 questions
  1. Q1Explain the role and importance of the industrial sector in the economic development of a country.Free
  2. Q2Classify industries on the basis of the nature of their output, with examples of each.Free
  3. Q3Distinguish between large-scale, small-scale and cottage industries on the basis of scale of operation.Free
  4. Q4Explain the salient features of the Industrial Policy Resolution, 1948.Preview
  5. Q5Describe the three Schedules of industries under the Industrial Policy Resolution, 1956.Preview
  6. Q6Explain the main features of the New Industrial Policy, 1991.Preview
  7. Q7Compare the Industrial Policy Resolution, 1956 and the New Industrial Policy, 1991.Preview
  8. Q8Discuss the changing role of the public sector and the private sector in Indian industry.Preview
  9. Q9What is meant by MSME? Explain the importance of small-scale industries in the Indian economy.Preview
  10. Q10Explain the major problems faced by small-scale industries in India.Preview
  11. Q11What are the main sources of industrial finance in India?Preview
  12. Q12Explain the meaning and causes of industrial sickness in India.Preview
  13. Q13Write a short note on infrastructure bottlenecks and regional imbalances as problems of Indian industry.Preview
  14. Q14Compare the objectives and impact of the public sector's dominant role before 1991 with the private sector's expanded role after the New Ind…Preview
  15. Q15Write a short note on 'Make in India' and ease-of-doing-business reforms as recent initiatives in India's industrial sector.Preview

Sample & Board Papers

Sample papers and previous-year board questions for this subject.

+Show 20 questions20 questions
  1. Q1Critically examine the Industrial Policy Resolution, 1991.Preview
  2. Q2Why should we protect the environment?Preview
  3. Q3Indicate the measures to solve the problems of small scale industries.Preview
  4. Q4Examine the arguments in favour of privatization.Preview
  5. Q5Assess the role of international trade in Indian economy.Preview
  6. Q6Write a short note on: Sustainable developmentPreview
  7. Q7Write a short note on: Environmental degradationPreview
  8. Q8Write a short note on: SEZPreview
  9. Q9Write a short note on: GlobalizationPreview
  10. Q10Write a short note on: WTO objectivesPreview
  11. Q11Critically examine the Industrial Policy Resolution, 1991.Preview
  12. Q12Indicate the measures to solve the problems of small scale industries.Preview
  13. Q13Analyse the differences between GATT and WTO.Preview
  14. Q14Why should we protect the environment?Preview
  15. Q15Write a short note on: Make in India.Preview
  16. Q16Write a short note on: Construction industryPreview
  17. Q17Write a short note on: Balance of paymentsPreview
  18. Q18Write a short note on: FDIPreview
  19. Q19Write a short note on: Sustainable developmentPreview
  20. Q20Write a short note on: EcosystemPreview