Bhagya

JAC Class 9 Science Notes Chapter 15 Improvement in Food Resources

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JAC Board Class 9th Science Chapter 15 Notes Improvement in Food Resources

→ All living organisms essentially require food to stay alive.

→ Food provides energy to perform various life activities and is required for growth, development and body repair.

→ Sources of Food
a. Food from agriculture: Cereals, pulses, vegetables, fruits, nuts, oilseeds, condiments and spices.
b. Food from animal husbandry: Dairy products like milk, curd, butter, meat, egg, fish and other sea products.

→ Food Revolutions in India
With the increase in population, there is a need for a sufficient increase in food production, so as to meet the food related demands of the growing population. This led to the rise of the following food revolutions in India:
a. Green Revolution: Introduced to increase the food grain production.
b. White Revolution: Introduced to increase the production of milk.
c. Blue Revolution: Introduced to enhance fish production.
d. Yellow Revolution: Introduced to increase oil production.

→ Crop Season: Different crops require different climatic conditions like temperature, moisture and photoperiod, to grow well and complete their life cycle.
Two main crop seasons are:

  1. Kharif Season: Summer season from the month of June to October, i.e., during rainy season. Crops grown in this season require more water. Examples of Kharif season crops are paddy, soyabean, pigeon pea, maize, black gram, green gram and rice.
  2. Rabi Season: Winter season from the month of November to April. Crops grown in this season require less water. Examples of Rabi season crops are wheat, gram, peas, mustard and linseed.

→ Improvement in Crop Yield: Main approaches implemented to enhance the crop yield are as follows:
1. Crop Variety Improvement: This involves the introduction of improved varieties to obtain better food qualities. It is mainly done to achieve the following targets:
a. Higher yield of crops by adopting technologies like cross-breeding and hybridisation.
b. Improved quality of products.
c. Biotic resistance against diseases and insects.
d. Aboitic resistance against drought, salinity, heat, cold, etc.
e. Decreased duration to attain maturity as short duration crops require less costing and more rounds of crop can be grown in a season.
f. Wider adaptability so that the crops growing in different environmental conditions can have high production.
g. Desired agronomic traits like height, branching, leaves, etc., will result in an increased production.

2. Crop Production Improvement: It involves different practices carried out by the farmers to achieve higher standards of crop production.

→ Main practices involved here are stated below:
a. Nutrient Management: Like other organisms, plants also require some elements for their growth. These elements are called nutrients. There are sixteen nutrients which are essential for plants. These nutrients are supplied to the plants by air, water and soil.

These nutrients are divided into following two categories:

  • Macronutrients: The essential elements which are utilised by plants relatively in large quantities are called macronutrients.
  • Micronutrients: The essential elements which are used by plants in small quantities are called micronutrients.
Sources Nutrients
Air Carbon and oxygen (macronutrients)
Water Hydrogen and oxygen (macronutri­ents)
Soil 1. Macronutrients present in soil are nitrogen, phosphorus, potassium, calcium, magnesium, sulphur.
2. Micronutrients present in the soil are iron, manganese, boron, zinc, copper, molybdenum, chlo­rine.

Manure: It is a kind of natural fertiliser formed from the decomposition of animal excreta and plant waste. It mainly contains organic matter and some nutrients in small amount. It helps in improving the soil structure by increasing the water holding capacity of the soil.

→ Types of manures: Based on the kind of biological waste material used, the manures are classified as:

  • Farmyard manure (FYM): It is the decomposed mixture of cattle excreta (dung) and urine along with litter and leftover organic matter such as roughage or fodder. The waste materials are collected daily from the cattle shed and stored in a pit for decomposition by the microorganisms (bacteria, fungi, etc.). FYM contains nitrogen, phosphorous and potassium.
  • Compost: It is a mixture of decomposed organic matter derived from garbage, sewage, vegetable waste, etc. The mixture is decomposed in pits and the process is known as composting.
  • Vermi-compost: The compost which is made by the decomposition of dead parts of plants and animals with the help of redworms is called vermi-compost.
  • Green manure: It is prepared by cultivating fast growing green manure crops like sunhemp, horse gram, guar, cow pea, etc., before sowing of seeds. The fast growing crops are then ploughed back into the soil. Green manure enriches the soil with nitrogen, phosphorus as well as organic matter and provides protection against erosion and leaching.

→ Fertilisers: Fertilisers are chemicals manufactured in factories and are highly rich in nutrients like nitrogen, phosphorus and potassium. They provide large amounts of nutrients and thus ensure better growth of plants. Excessive use of fertilisers for a long period of time can damage soil fertility,

b. Irrigation: The process of supplying water to the crop plants through human efforts by means of canals, wells, reservoirs, tube-wells, etc., is known as irrigation. Most agriculture in India is dependent on timely monsoons and sufficient rainfall spread through most of the growing season. However, the extra water required by crops is met through irrigation.

→ Sources of Irrigation: Some most commonly used sources of irrigation are as follows:

  • Wells: These are of two types:
    Dug wells: Where water is collected from water bearing strata through bullock-operated devices or by pumps. Tube wells: Where water is collected from underground through diesel or electricity run pumps.
  • Canal system: Water from the main river or reservoir is carried by canal into the field which is divided into branch canals having further distributaries to irrigate the fields.
  • River-lift system: In this system, water is directly drawn from the river for supplementing irrigation. It is used where occurs insufficient flows from canals.
  • Rainwater harvesting: Rainwater is collected and recycled into groundwater by digging canals.
  • Watershed management: Small check dams are built up in watershed areas to increase percolation of water into the ground and reduce the flow of rainwater to prevent soil erosion.

c. Cropping pattern: It includes different ways of growing crops so as to get the maximum benefit. These different ways include the following types:

  1. Mixed cropping: It refers to growing of two or more crops simultaneously on the same piece of land.
  2. Intercropping: It refers to growing of two or more crops simultaneously on the same field in a definite row pattern.
  3. Crop rotation: The growing of different crops on a piece of land in a pre-planned succession is known as crop rotation.

→ Animal Husbandry: It is the scientific management of animal livestock including feeding, breeding and disease control.

→ The food requirements of dairy animals are of two types:
a. Maintenance requirement, i.e., the food required to support the animals to live a healthy life.
b. Milk producing requirement, i.e., the type of food required during the lactation period.

→ Artificial insemination: It is the process in which semen is collected from the desired bull and is injected into the vagina of cows during the period of heat.

→ Poultry farming: Poultry includes duck, geese, turkeys, pigeons, etc. However, poultry farming is undertaken basically to raise fowl for egg production and chicken for meat.

→ Fish production: It includes finned fishes, i.e., true fishes and shell fishes such as prawns and molluscs.

→ In composite fish culture a combination of five or six species of fishes are put in culture system. These species of fish are such that they do not compete for food among themselves, i.e., have different food habits.

→ Honey has medicinal value specially in disorders related to digestion, dysentery, vomiting, and ailments of stomach and liver.

→ Apis mellifera, Italian bee, has now been domesticated in India to increase the yield of honey.

→ A colony of honeybees includes queen, drones and workers.

JAC Class 9 Science Notes

JAC Class 10 English Solutions First Flight & Footprints without Feet Jharkhand Board

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JAC Jharkhand Board Class 10th English Solutions First Flight & Footprints without Feet

JAC Board Class 10th English Solutions First Flight

JAC Jharkhand Board Class 10th English First Flight Prose

JAC Jharkhand Board Class 10th English First Flight Poem

JAC Class 10th English Solutions Footprints without Feet

JAC Jharkhand Board Class 10th English Supplementary Reader Footprints without Feet

JAC Class 10 English Reading Comprehension

JAC Class 10 English Grammar

JAC Class 10 English Writing

JAC Class 9 Science Notes in Hindi & English Jharkhand Board

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JAC Jharkhand Board Class 9th Science Notes in Hindi & English Medium

JAC Board Class 9th Science Notes in English Medium

JAC Board Class 9th Science Notes in Hindi Medium

JAC Class 9 Science Important Questions and Answers in Hindi & English Jharkhand Board

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JAC Jharkhand Board Class 9th Science Important Questions in Hindi & English Medium

JAC Board Class 9th Science Important Questions in English Medium

JAC Board Class 9th Science Important Questions in Hindi Medium

JAC Class 9 Science Solutions in Hindi & English Jharkhand Board

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JAC Jharkhand Board Class 9th Science Solutions in Hindi & English Medium

JAC Board Class 9th Science Solutions in English Medium

JAC Board Class 9th Science Solutions in Hindi Medium

JAC Class 9 Maths Notes Chapter 11 रचनाएँ

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Students should go through these JAC Class 9 Maths Notes Chapter 11 रचनाएँ will seemingly help to get a clear insight into all the important concepts.

JAC Board Class 9 Maths Notes Chapter 11 रचनाएँ

रचनाएँ (Constructions ) : प्रमेय सिद्ध करते समय या उन पर आधारित प्रश्नों को हल करते समय जो आकृतियाँ बनाते हैं, वे साधारण चित्र होते हैं। इन चित्रों में इतनी परिशुद्धता नहीं होती। लेकिन ज्यामितीय रचनाओं में ज्यामितीय यन्त्रों जैसे अंशांकित रूलर, चाँदा (protractor), सेट स्क्वायर, परकार, इत्यादि का प्रयोग आवश्यक होता है। ज्यामितीय रचना में तर्क और कौशल का समावेश होता है। रचना यथार्थ और शुद्ध (accurate) होती है।

रचना करते समय ध्यान रखना चाहिए कि

  • आकृति शुद्ध और स्वच्छ हो, रबर (eraser) का कम-से-कम प्रयोग करना चाहिए। किसी भी रचना से पूर्व सम्बन्धित आकृति का कच्चा चित्र बना लेने से रचना करना सुगम हो जाता है।
  • रचना से सम्बन्धित समस्त बिन्दु तथा रेखाएँ स्पष्ट तथा यथा सम्भव चौड़ाई रहित होने चाहिए।
  • रचना हेतु खींची गयी सहायक रेखाओं को बिन्दु रेखाओं (dotted lines) द्वारा तथा मुख्य रेखाओं को अधिक स्पष्ट खींचना चाहिए।
  • रचना के समस्त पद क्रमशः लिखे जाने चाहिए।

JAC Class 9 Maths Notes Chapter 11 रचनाएँ

त्रिभुजों की रचनाएँ (Constructions of Triangles) : प्रत्येक त्रिभुज में छ: अवयव होते हैं, तीन भुजाएँ और तीन कोण। इन प्रतिबन्धों के अनुसार त्रिभुज की रचना करने के लिए कम से कम तीन स्वतन्त्र अवयव आवश्यक होते हैं :

  • तीन भुजाएँ, या
  • दो भुजाएँ और उनके बीच का कोण, या
  • दो कोण और एक भुजा, या
  • समकोण त्रिभुज में कर्ण और एक भुजा।

JAC Class 9 Science Notes Chapter 1 Matter in Our Surroundings

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JAC Board Class 9th Science Chapter 1 Notes Matter in Our Surroundings

→Matter: Everything in this universe is made up of material which is called matter. Matter is anything that has mass and occupies space. Matter is made up of lots of tiny particles.

→ Characteristics of particles of matter:
a. Particles of matter have space between them.
b. Particles of matter are continuously moving.
c. Particles of matter attract each other. Matter exists in three different states, viz., solid, liquic and gas.

Solid Liquids Gas
1. Strong intermolecular force of attraction. 1. Weak intermolecular force of attraction. 1. Very weak intermolecular force of attraction.
2. Very less intermolecular space. 2. Large intermolecular space. 2. Very large intermolecular space.
3. Have definite shape and volume. 3. No definite shape but definite volume. 3. No definite shape and volume.
4. High density, high melting and boiling points. 4. Density is lower, low melting and boiling points. 4. Density is very low.
5. Solids cannot be compressed. 5. Liquids can be compressed. 5. Gases are highly compressible.
6. Solids cannot flow. 6. Liquids can flow. 6. Gases can flow.

→ Matter can change its state from solid to liquid and from liquid to gas and vice-versa.
JAC Class 9 Science Notes Chapter 1 Matter in Our Surroundings 2

→ Effect of Temperature: On increasing temperature, the particles gain energy and start vibrating with greater energy. Due to increased kinetic energy, the particles overcome the force of attraction and a new state is obtained.

→ Melting Point: It is the temperature at which a solid becomes a liquid at atmospheric pressure. Boiling Point: It is the temperature at which a liquid changes into its vapour form at atmospheric pressure.

JAC Class 9 Science Notes Chapter 1 Matter in Our Surroundings

→ Latent Heat of Fusion: The amount of heat energy required to change 1 kg of a solid into liquid at its melting point is called the latent heat of fusion of the solid.

→ Latent Heat of Vaporisation: The amount of heat energy required to change 1 kg of a liquid into vapour at atmospheric pressure, at its boiling point is called the latent heat of vaporisation of the liquid.

→ Sublimation: It is the change of state directly from solid to gas or vice-versa without going through the liquid state. Evaporation: It is a surface phenomenon in which a liquid changes into vapour/gas below its boiling point. It results in lowering of temperature, i.e., cooling is caused when evaporation takes place.

→ Factors affecting Evaporation: An increase in surface area increases the rate of evaporation. An increase in temperature increases the rate of evaporation. A decrease in humidity increases the rate of evaporation. An increase in wind speed increases the rate of evaporation.

→ Some measurable quantities and their units:

Quantity SI Unit A Symbol
Temperature kelvin K
Length metre m
Mass kilogram kg
Weight newton N
Volume cubic metre m3
Density kilogram per cubic metre kg/m3
Pressure v pascal Pa

JAC Class 9 Science Notes

JAC Class 10 Social Science Notes Economics Chapter 5 Consumer Rights

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JAC Board Class 10 Social Science Notes Economics Chapter 5 Consumer Rights

→ We the people participate in the market both as producers and consumers. As producers of goods and services we could be working in any of the sectors such as agriculture, industry, or services. Consumers participate in the market when they purchase goods and services that they need.

  • Rules and regulations are required for the protection of the consumers in the marketplace. Individual consumers often find themselves in a weak position.
  • Exploitation in the marketplace happens in various ways. For example, sometimes traders indulge in unfair trade practices, such as, when shopkeepers weigh less than what they should or when traders add charges that were not mentioned before, or when adulterated/defective goods are sold.
  • Markets do not work in a fair manner when producers are few and powerful whereas consumers purchase in small amounts and are scattered. This happens especially when large compnîes are producing these goods.

→ Consumer Movement

  • The consumer movement arose out of dissatisfaction of the consumers as many unfair practices were being indulged in by the sellers.
  • It vas presumed that it was a consumer’s responsibility while buying various products.
  • In Inda, the consumer movement as a ‘social force’ originated with the necessity of protecting and promoting the interests of consumers against unethical and unfair trade practices.
  • A major step taken in 1986 by the Indian government was the enactment of the Consumer Protection Act 1986, popularly known as COPRA.

JAC Class 10 Social Science Notes Economics Chapter 5 Consumer Rights

→ Consumer Rights Safety is Everyone’s Right

  • We as consumers, have the right to be protected against the marketing of goods and delivery of services that are hazardous to life and property.
  • Many goods and services that we purchase, require special attention to safety. For example, pressure cookers have a safety valve which, if it is defective, can cause a serious accident. The manufacturers of the safety valve have to ensure high quality.
  • Information about goods and services: Consumers have the right to be informed about the particulars of goods and services that they purchase. Consumers can then complain and ask for compensation or replacement if the product proves to be defective in any manner. For example, if we buy a product and find it defective well within the expiry period, we can ask for a replacement. If the expiry period is not printed, the manufacturer will blame the shopkeeper and will not accept the responsibility.
  • In October 2005, the Government of India enacted a law, popularly known as RTI (Right to Information) Act, which ensures its citizens all the information about the functions of government departments.

→ Where should consumers go to get justice?

  • Consumers have the right to seek redressal against unfair trade practices and exploitation. If any damage is done to a consumer, he/she has the right to get compensation depending on the degree of damage.
  • Consumer forums: The consumer movement in India has led to the formation of various organisations locally known as consumer forums or consumer protection councils. They guide consumers on how to file cases in the consumer court. On many occasions, they also represent individual consumers in the consumer courts. These voluntary organisations also receive financial support from the government for creating awareness among the people.
  • Under COPRA, a three-tier quasi-judicial machinery at the district, state and national levels was set up for redressal of consumer disputes.
  • The district level court deals with the cases involving claims upto ₹ 20 lakh, the state level courts between ₹ 20 lakh and ₹ 1 crore and the national level court deals with the cases involving claims exceeding ? 1 crore.
  • If a case is dismissed in district level court, the consumer can also appeal in State and then in National level courts.
  • Thus, the Act has enabled us as consumers to have the right to represent in the consumer courts.

→ Learning to Become Well-Informed Consumers

  • The enactment of COPRA has led to the setting up of separate departments of Consumer Affairs in Central and State governments.
  • The posters are one example through which government spread information about legal process which people can use. You might also be seeing such advertisements on television channels.

JAC Class 10 Social Science Notes Economics Chapter 5 Consumer Rights

→ Taking the Consumer Movement Forward

  • India has been observing 24 December as the National Consumers’ Day. It was on this day that the Indian Parliament enacted the Consumer Protection Act in 1986. India is one of the countries that have exclusive courts for consumer redressal.
  • Today there are more than 700 consumer groups in the country of which only about 20-25 are well organised and recognised for their work.
  • After more than 25 years of the enactment of COPRA, consumer awareness in India is spreading, but slowly.

JAC Class 10 Social Science Notes

JAC Class 10 Social Science Notes Economics Chapter 4 Globalisation and the Indian Economy

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JAC Board Class 10 Social Science Notes Economics Chapter 4 Globalisation and the Indian Economy

→ Today’s consumers have a variety of choice of goods and services. Markets have been transformed vastly in a matter of few years.

→ Production Across Countries

  • Until the middle of the twentieth century, production was largely organised within countries.
  • Trade wa§ the main channel connecting distant countries.
  • Multinational corporations (MNCs) emerged. A MNC is a company that owns or controls production in more than one country.
  • MNCs set up offices and factories for production in regions where they get cheap labour and other resources. This is done to reduce the cost of production and the MNCs can earn greater profits.
  • MNCs not only sell their products globally but also produce the goods and services globally.
  • Production process is spread across the world witji cost optimisation.

JAC Class 10 Social Science Notes Economics Chapter 4 Globalisation and the Indian Economy

→ Interlinking Production Across Countries

  • MNCs have set up production close to the markets; wherein skilled and unskilled labour is available at low costs and the availability of other factors of production is assured.
  • The money that is spent to buy assets, such .as land, building, machines and other equipment is called investment. Any Investment made by MNCs is called foreign investment.
  • At times MNCs set up production in collaboration with local companies. The benefit of the local companies is two¬fold: MNCs provide finance for additional investments. MNCs might bring with them the latest technology for production.
  • The most common route for MNC investments is to buy up local companies and then to expand production. Secondly, large MNCs in developed countries place orders for production with small producers of garments, footwear, sports items, etc. The products are supplied to MNCs, which then they sell under their own brand names to the customers. These MNCs have tremendous power to determine price, quality, delivery, and labour conditions for these distant producers.
  • MNCs are exerting a strong influence on production at these distant locations. Therefore, production in these widely dispersed locations is getting interlinked.

→ Foreign Trade and Integration of Markets

  • For a long time foreign trade has been the main channel connecting the countries. Trade routes connected India and South Asia to markets both in East and West, and extensive trade took place along these routes.
  • Foreign trade creates an opportunity for the producers to reach beyond domestic markets. Buyers have a wide option to choose from the imported goods produced in another country.
  • More choices of goods in the market and prices of similar goods in the two markets tend to become equal. Producers in the two countries closely compete against each other even though they are separated by thousands of miles.
  • Foreign trade, thus, integrates the markets in different countries.

→ What is Globalisation?

  • Globalisation is the process of rapid integration or interconnection between countries.
  • More and more goods and services, investments and technology are moving between countries. Globalisation has also encouraged movement of people between countries.

JAC Class 10 Social Science Notes Economics Chapter 4 Globalisation and the Indian Economy

→ Factors that have Enabled Globalisation

  • Rapid improvement in technology has been one rpajor factor that has boosted the globalisation process. In the past fifty years, there have been several improvements in technology which have made faster delivery of goods across long distances possible at lower costs.
  • There have been huge advancements in information and communication technology. Information can be obtained and shared instantly.
  • The Indian government, after Independence had put barriers to foreign trade and foreign investment to protect the producers within the country from foreign competition. Starting around 1991, government removed the trade barriers. The time had come for the producers to compete with the producers around the globe. The government thought that this would enable the producers to impro ve’ the performance and the quality of the produce.
  • The goods could be imported or exported more easily and also foreign companies could set up factories and offices in India. This is known as liberalisation.

→ World Trade Organisation:

  • The aim of World Trade Organisation (WTO) is to liberalise international trade. Powerful international organisations believe that barriers to foreign trade and investment are harmful. Trade between the countries should be ‘free’.
  • WTO establishes rules of international trade and sees that these rules are followed. It is seen that the developed countries have unfairly retained trade barriers, while WTO has forced the developing nations to remove trade barriers.

→ Impact of Globalisation in India

  • Globalisation has affected the lives of the people and the economy in both positive and negative way.
  • MNCs have increased their investments in India over the past 20 years. MNCs have been interested in industries, such as cell phones, automobiles, electronics, soft drinks, fast food or service such as banking in urban areas. These products have large number of well-off buyers. In these industries, new jobs have been created. Local companies supplying raw materials, etc., to these industries have prospered.
  • Top Indian companies have benifited from increased competition as they have been able to invest in newer technologies and raise their production standards. Some have gained from the collaborations with foreign companies.
  • Few large Indian companies, such as Tata Motors, Infosys, Ranbaxy, Sundaram Fasteners, Asian Paints, etc., have emerged as multinationals themselves.
  • Governments in India are setting up special industrial zones, known as SEZs to encourage investments by foreign companies and help them establish their offices in India. Labour laws have been made flexible. Companies are allowed to hire workers on a temporary
    basis, instead of on a regular basis. This lowers the cost of production and MNCs are able to make profits.
  • The jobs of workers are no longer secure. They do not have regular work. When they are employed, they have to put in long hours of work and also may have to do night shift. Their wages are low.
  • A large number of small producers had to shut down their units because of stiff competition from MNCs. They have been rendered jobless. Conditions of work in the organised sector have come to resemble the unorganised sector.

JAC Class 10 Social Science Notes Economics Chapter 4 Globalisation and the Indian Economy

→ Struggle for a Fair Globalisation

  • Fair globalisation would create opportunities for all, and also ensure that the benefits of globalisation are shared better.
  • The government can play a major role in making globalisation fair. Its policies should protect not only the rich but also the poor and small producers in the country. The government can ensure that the labour laws are implemented and followed, and the labourers get their rights. It can support the small producers till they become capable of competing in the market with MNCs.
  • The government should ensure that the WTO rules are free and applied fairly across the world.

JAC Class 10 Social Science Notes

JAC Class 10 Social Science Notes Economics Chapter 3 Money and Credit

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JAC Board Class 10 Social Science Notes Economics Chapter 3 Money and Credit

→ Money as a Medium of Exchange

  • A person holding money can exchange it for any commodity or service that he or she might want.
  • Thus everyone prefers to receive payments in money and then exchange the money for things that they want.
  • Both parties have to agree to sell and buy each other’s commodities. This is known as Double Coincidence of Wants.
  • What a person desires to sell is exactly what the other wishes to buy.
  • In a barter system where goods are directly exchanged without the use of money, the Double Coincidence of Wants is an essential feature.
  • In an economy where money is in use, by providing the crucial intermediate step it eliminates the need for Double Coincidence of Wants.
  • Money acts as an intermediate in the exchange process. It is called a medium of exchange. This is known as Barter System.

→ Modern Forms of Money

  • Money acts as a medium of exchange in transactions.
  • Before the introduction of coins, a variety of things were used as money.
  • For example, since the very early ages, Indians used grains and cattle as money.

JAC Class 10 Social Science Notes Economics Chapter 3 Money and Credit

→ Currency

  • Modem forms of money include currency – paper notes and coins.
  • Money is accepted as a medium of exchange because the currency is authorized by the government of the country.
  • In India, the Reserve Bank of India issues currency notes on behalf of the government of India.
  • As per Indian law, no other individual or organization is allowed to issue currency.
  • No individual in India can legally refuse payment made in rupees.

→ Deposits with Bank

  • The other form in which people hold money is ‘deposits with the bank’.
  • People deposit money with the banks by opening a bank account in their name.
  • Banks accept deposits and also pay an amount as interest on the deposits.
  • People also have the provision to withdraw the money as and when they require.
  • Since the deposits in the accounts can be withdrawn on demand, these deposits are called demand deposits.
  • Some payments are made by cheques instead of cash. For payment by cheque, the buyer who has an account with the bank, prepares a cheque for a specific amount.
  • A cheque is a paper instructing the bank to pay a specific amount from the holder’s account to the person in whose name the cheque has been issued.
  • The facility of cheque against demand deposits makes it possible to directly settle payments without the use of cash.
  • Since demand deposits are accepted widely as a means of payment, along with currency, they constitute money in the modem economy.
  • But for the banks, there would be no demand and no payments by cheques against these deposits. The modem forms of money – currency and deposits – are closely linked to the working of the modem banking system.

→ Loan Activities of Banks

  • Banks keep only a small proportion of their deposits as cash with themselves.
  • This is kept as a provision to pay the depository who might come to withdraw money from the bank on any given day.
  • Since, on any particular day, only some of its many depositors come to withdraw cash, the bank is able to manage with this cash.
  • Banks use the major portion of the deposits to extend loans to the individuals for their requirements.
  • There is a huge demand for loans for various economic activities.
  • Banks mediate between those who have surplus funds and those who are in need of these funds.
  • Banks charge a higher interest rate on loans than what they offer on deposits.
  • The difference between what is charged from the borrowers and what is paid to the depositors is their main source of income.

→ Terms of Credit

  • Every loan agreement specifies an interest rate which the borrower must pay to the lender along with the repayment of the principal amount, lenders may demand collateral against the loan.
  • Collateral is an asset that the borrower owns and uses this as a guarantee to a lender until the loan is repaid.
  • The interest rate, collateral, documentation requirement, and the mode of repayment is called the terms of credit.

→ Formal Sector Credit in India

  • People obtain loans from various sources.
  • The various types of loans can be grouped as formal sector and informal sector loans.
  • Between these two sectors, former sector includes loans from banks and cooperatives.
  • The informal lenders include moneylenders, traders, employers, relatives and friends, etc.
  • The Reserve Bank of India supervises the functioning of formal sources of loans.
  • For instance, we have seen that the banks maintain a minimum cash balance out of the deposits they receive.
  • The RBI monitors the banks in actually maintaining a cash balance.
  • Periodically, banks have to submit information to the RBI on how much they are lending, to whom, at what interest rate, etc.
  • There is no organization that supervises the credit activities of lenders in the informal sector.
  • They can lend at whatever interest rate they choose.
  • There is no one to stop them from using unfair means to get their money back.
  • Compared to the formal lenders, most of the informal lenders charge a much higher rate of interest on loans.
  • Thus, the cost to the borrower of informal loans is much higher.
  • The higher cost of borrowing means that, a large part of the earnings of the borrowers is used to repay the loans.
  • Cheap and affordable credit is crucial for the country’s development.

JAC Class 10 Social Science Notes Economics Chapter 3 Money and Credit

→ Formal and Informal Credit

  • 85% of the loans taken by the poor households in the urban areas are from informal sources.
  • Urban households take only 10% of loans from informal sources, while 90% from formal sources.
  • The rich households avail a cheap credit from the formal sources whereas the poor households have to pay a large amount of borrowing.
  • The formal sources still meet only about half of the total credit needs of the rural people.
  • The remaining credit needs are fulfilled by the informal sources.
  • Thus, it is necessary that banks and cooperatives increase their lending particularly in the rural areas so that the dependence on informal sources of credit reduces.
  • While formal sector loans need to expand, it is also necessary that everyone receives these loans.
  • It is important that the formal credit is distribute^ more equally so that the poor can benefit from the cheaper loans.

→ Self-Help Groups for the Poor

  • Poor -households are still dependent on informal sources of credit.
  • Banks are not present everywhere in rural India.
  • Even when they are present, getting a loan from a bank is much more difficult than getting a loan from informal sources.
  • The absence of collateral is one of the major reasons which prevents the poor from getting bank loans.
  • Informal lenders such as moneylenders, know the borrowers personally and are often willing to give a loan without collateral.
  • However, the moneylenders charge very high rates of interest, keep no records of the transactions and harass the poor borrowers.
  • In recent years, people had tried out some newer ways of providing loans to the poor like Self Help Groups (SHGS), Grameen Banks, etc.

JAC Class 10 Social Science Notes

JAC Class 10 Social Science Notes Economics Chapter 2 Sectors of Indian Economy

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JAC Board Class 10 Social Science Notes Economics Chapter 2 Sectors of Indian Economy

→ Economy is best understood when the different economic activities are classified in different sectors.

→ Primary, secondary, tertiary, private, public, organized and unorganized are different sectors of economy in which economic activities are grouped.

→ Primary sector produces products that forms the base of other industries. This sector is also called agriculture and related sector.

JAC Class 10 Social Science Notes Economics Chapter 2 Sectors of Indian Economy

→ In secondary sector those activities are covered in which through ways of manufacturing natural products are changed into other forms. This sector is also called as industrial sector.

→ The third sector is the tertiary sector. In this activities that help in the development of the primary and secondary sectors are grouped. This sector is also called service sector.

→ To know the contribution of each sector in an economy the value of final goods and services produced by each sector in a particular year is considered.

→ The total production in three sectors in a year is what is known as Gross Domestic Product (GDP) of a country. The value of GDP indicates the size of the economy.

→ In India, GDP is calculated by Central Government ministry.

→ Historically, it has been observed that countries, which are developed today had strong primary sector in the initial stage of development and eventually the manufacturing and service sectors developed.

→ In India, more people are engaged in agricultural sector than secondary and tertiary sector, however the contribution of secondary and tertiary sector in GDP is more than the primary sector. This is mainly because more people in agriculture sector are underemployed. Underemployed is also known as disguised unemployment because as those underemployed may work but not to their full capacity and earn very less. Besides primary, secondary and tertiary sector, economic activities can be grouped under organized and unorganized sectors. Organized sector covers those activities, enterprises or places of work where the terms of employment are regular and people have assured work. They are registered by the government and have to follow its rules and regulations.

→ Unorganized sector covers those activities, which generally are outside the control of government. Jobs here are often irregular and low paid. Employment is not secure in this sector.

JAC Class 10 Social Science Notes Economics Chapter 2 Sectors of Indian Economy

→ Mostly people from backward communities, scheduled tribes and castes work in unorganized sector.

→ Another way of classification of economic activities is on the basis of ownership such as private and public sectors. In the public sector, the government owns most of the assets and the services. In the private sector, the ownership of assets and delivery of services is in the hands of private individuals or companies. Such as railways are under public sector and Reliance Industries is a private sector entity.

→ There are many activities, which are government’s responsibility and government needs to spend on them for human development.

JAC Class 10 Social Science Notes