CBSE Class 10 Economics Notes Chapter 2 Sectors Of Indian Economy

CBSE Class 10 Social Science Economics Notes Chapter 2: Chapter 2 of CBSE Class 10 Economics Chapter 2 Notes is all about the different parts of Sectors Of Indian Economy. We learn about three main parts: primary, secondary, and tertiary sectors. The primary sector includes farming, fishing, mining, and other basic activities.

CBSE Class 10 Social Science Economics Notes

CBSE Class 10 Economics Chapter 2 Notes

Primary Sector :

• Definition and significance.
• Activities such as farming, fishing, mining, and quarrying.
• Contribution to GDP and employment.

Secondary Sector :

• Definition and importance.
• Overview of manufacturing industries.
• Contribution to GDP and employment.

Tertiary Sector :

• Definition and role.
• Various service sectors like trade, transport, communication, banking, education, and healthcare.
• Contribution to GDP and employment.

Interdependence of Sectors :

• Understanding how sectors rely on each other.
• Impact of developments in one sector on others.

Employment Generation :

• Role of each sector in creating jobs.
• Challenges and opportunities for employment in different sectors.

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CBSE Notes Class 10 Economics Chapter 2 Sectors Of Indian Economy PDF

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CBSE Notes Class 10 Economics Chapter 2 – Sectors of the Indian Economy

Sectors of Economic Activities

Primary Sector :

Secondary Sector :

Tertiary Sector :

Comparing the 3 Sectors :

Where are Most People Employed?

• More than half of the workers in India work in the primary sector, mostly in farming.
• The secondary and tertiary sectors together employ less than half the people.
• But they produce most of the things, around four-fifths.

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How to Create More Jobs?

• We can create jobs by promoting industries and services in rural areas.
• Tourism, local crafts, and new services like IT can also generate employment.
• The government's law, MGNREGA 2005, guarantees 100 days of work to rural people if they need it.

Division of Sectors as Organised and Unorganised

Organised Sector

• The organised sector has jobs with fixed schedules and stable employment. Workers here have assured work.
• These jobs are regulated by the government. Laws like the Factories Act, Minimum Wages Act, and Payment of Gratuity Act apply to them.
• Workers in this sector usually have regular hours. If they work extra, they get paid for the extra time.
• Employment in the organised sector is secure. Employees can't be fired without a valid reason.
• Workers in this sector enjoy various benefits like paid leave, holidays, and medical coverage. They also have retirement benefits like pensions.

Unorganised Sector

• The unorganised sector consists of small, scattered businesses not regulated by the government.
• Since they're not registered, they don't have to follow government laws and regulations.
• Jobs in this sector are often irregular and low-paying.
• Employment in the unorganised sector isn't secure. Workers can be fired without any reason.
• There are no benefits like paid leave, holidays, or medical coverage in the unorganised sector.
• Examples of the organised sector include government employees, factory workers, and professionals like nurses or teachers. In contrast, the unorganised sector includes jobs like farming, shopkeeping, or domestic work.

Protecting Workers in the Unorganised Sector

• The government can set minimum wages and working hours.
• It can offer cheap loans and basic services like education and healthcare.
• Laws can be made for benefits like paid leave and sick leave.

Sectors in Term of Ownership: Public and Private Sectors

Public Sector

• In the public sector, most assets are owned by the government, and it provides all services.
• Examples include government-run services like railways or the post office.
• The main goal of the public sector is public welfare, not just making profits.

Private Sector

• In the private sector, individuals or companies own assets and provide services.
• Companies like Tata Iron and Steel Company Limited (TISCO) or Reliance Industries Limited (RIL) are examples.
• The main motive of the private sector is to make profits.

Government Responsibilities

• The government raises money through taxes to provide services like roads, electricity, and education.
• It supports farmers by buying their produce at fair prices and selling it at lower prices to consumers.
• Ensuring proper schools, healthcare, and housing for all are also government duties.