Analyse the significance of the Primary Sector in the Indian economy.
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Solution and Explanation
2. Contribution to GDP: Agriculture, fishing, and forestry contribute significantly to India’s economy.
3. Supply of Raw Materials: Essential industries such as textiles and food processing depend on primary sector outputs.
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Loans from Co-operatives
Besides banks, the other major source of cheap credit in rural areas are the co-operative societies. Members of a co-operative pool their resources for co-operation in certain areas. There are several types of co-operatives possible such as farmers co-operatives, weavers co-operatives, industrial workers co-operatives etc. Krishak Co-operative functions in a village not very far away from Sonpur. It has 2300 farmers as members. It accepts deposits from its members. With these deposits as collateral, the co-operative has obtained a large loan from the bank. These funds are used to provide loans to members. Once these loans are repaid, another round of lending can take place. Krishak Co-operative provides loans for the purchase of agricultural equipment, loans for cultivation and agricultural trade, fishery loans, loans for construction of houses and for variety of other expenses.- CBSE Class X - 2025
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The Independence Day Pledge, 26 January 1930
“We believe that it is the inalienable right of the Indian people, as of any other people, to have freedom and to enjoy the fruits of their toil and have the necessities of life, so that they may have full opportunities of growth. We also believe that if any government deprives people of these rights and oppresses them, the people have a further right to alter it or abolish it. The British Government in India has not only deprived the Indian
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