Page 244 - General Knowledge

GENERAL KNOWLEDGE 2019

 In terms of size and expenditure involved, there are small and large scale industries.
 Examples of small scale units are: shoe factory, textile unit, printing, glass making, furniture
etc.
 The large scale manufacturing includes steel, automobiles, aluminum, etc.

 Skilled people work in manufacturing business.
 This activity includes construction of residential and non-residential buildings, roads, parks,
bridges, dams, airports, bus stops and so on.
 It is a regular activity seen in urban areas.
 Another occupation people, pursue in the secondary sector is gas, water and electricity
supply. These are essential services.
Tertiary Sectors
 The tertiary sector or service sector is the third of the three economic sectors of the three-
sector theory.
 The others are the secondary sector and the primary sector.
 People also engaged in tertiary sector activities which are different in nature.
 This sector is called service sector where the following services are provided.
 Trade, Hotels and Restaurants.
 Transport, Storage and Communication.

 Financial services such as Banking, Insurance etc.
 Real estate and Business services.
 Public Administration.
 Other services.

2. STRATEGIES OF PLANNING
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1 Five Year Plan
 The first plan was launched on April 1, 1951.
st
st
 Duration: 1 April, 1951 to 31 March 1956.
 It is based on the Harrod Domar model.
 Objectives: Agriculture is the main priority.

 National income was 3.6%
 The per capita income growth rate was 1.8%
 ICOR was 2.95%
nd
2 Five Year Plan
st
st
 Duration: 1 April, 1956 to 31 March 1961.
 It was based on Mahalonobis model.
 Objectives: Initiate and accelerate the process of industrialization.
 This plan was based on a socialistic pattern of society.
 Increase the National Income by 4.27% per annum.
The Capital output ratio was 2:1.
 Originally it was estimated at 3.4:1.
rd
3 Five Year Plan
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 Duration: 1 April, 1961 to 31 March 1966.

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