State and elaborate, whether the following statements are true/false, with valid arguments
Under the Golden Revolution there was tremendous growth in horticulture, making India the world leader in this field.
Statement
Under the Golden Revolution there was tremendous growth in horticulture, making India the world leader in this field.
Evaluation: True
The statement is true. The Golden Revolution, spanning the 1990s to early 2000s, led to significant growth in India’s horticulture sector, particularly in the production of fruits, vegetables, and other horticultural crops.
Elaboration
1. Understanding the Golden Revolution
The Golden Revolution refers to the period of rapid growth in India’s horticulture sector, particularly from 1991 to 2003, driven by government initiatives like the National Horticulture Mission (NHM) launched in 2005 and earlier policies under the Eighth Five-Year Plan (1992–1997). It focused on increasing production of fruits, vegetables, spices, flowers, and other high-value crops, with an emphasis on improving technology, infrastructure, and market access.
2. Tremendous Growth in Horticulture
The statement is correct in asserting tremendous growth in horticulture during the Golden Revolution. Key evidence includes:
3. India as a World Leader in Horticulture
The claim that India became the "world leader in this field" is partially inaccurate and requires nuance:
4. Achievements vs. Global Leadership
The Golden Revolution undeniably transformed India’s horticulture sector, making it a significant contributor to agricultural growth and food security. However, leadership in horticulture extends beyond production to include productivity, export competitiveness, and technological advancement, where India trails countries like China, the Netherlands, and the USA. The statement overstates India’s position by claiming world leadership without acknowledging these gaps.
Conclusion
The statement is true. The Golden Revolution led to tremendous growth in India’s horticulture sector, with significant increases in production and economic contributions, making India a major global producer of certain crops.
State and elaborate, whether the following statements are true/false, with valid arguments
Small and marginal farmers are given preference in getting credit from non-institutional sources like Regional Rural Banks, Cooperative Banks, etc.
On $31^{\text {st }}$ March, 2024, following is the Balance Sheet of Bhavik Limited :
Bhavik Ltd.
Balance Sheet as at $31^{\text {st }}$ March 2024
I. Equity and Liabilities :
Particulars | Note No. | $31-3-2024$ (₹) | $31-3-2023$ (₹) |
1. Shareholders funds | |||
(a) Share Capital | 12,00,000 | 10,00,000 | |
(b) Reserves and Surplus | 1 | 4,00,000 | 3,00,000 |
2. Non-current liabilities | |||
Long-term borrowings | 2 | 6,00,000 | 10,00,000 |
3. Current Liabilities | 5,00,000 | 1,00,000 | |
(a) Trade Payables | 3 | 3,00,000 | 4,00,000 |
(b) Short-term provisions | |||
Total | 30,00,000 | 28,00,000 |
II. Assets :
1. Non-current Assets | |||
(a) Property, Plant and Equipment and Intangible Assets | |||
Property plant and equipment | 4 | 19,00,000 | 15,00,000 |
(b) Non-current Investments | 3,00,000 | 4,00,000 | |
2. Current Assets | |||
(a) Inventories | 4,50,000 | 3,50,000 | |
(b) Trade Receivables | 2,50,000 | 4,50,000 | |
(c) Cash and Cash Equivalents | 1,00,000 | 1,00,000 | |
Total | 30,00,000 | 28,00,000 |
Notes to Accounts :
Note | Particulars | $31-3-2024$ (₹) | $31-3-2023$ (₹) |
No. | |||
1. | Reserves and Surplus i.e. Balance in Statement of Profit and Loss | 4,00,000 | 3,00,000 |
2. | Long-term borrowings | ||
10% Debentures | 6,00,000 | 10,00,000 | |
3. | Short-term provisions | ||
Provision for tax | 3,00,000 | 4,00,000 | |
4. | Property plant and equipment | ||
Plant and Machinery | 21,50,000 | 16,00,000 | |
Less : Accumulated Depreciation | 2,50,000 | 1,00,000 | |
19,00,000 | 15,00,000 |
Additional Information :
Calculate :
On 31st March, 2024 following is the Balance Sheet of Bhavik Limited :
Bhavik Ltd.
Additional Information :
(i) During the year a piece of machinery costing Rs 8,00,000 accumulated depreciation thereon Rs 50,000 was sold for Rs 6,50,000
(ii) Debentures were redeemed on 31-03-2024.
Calculate:
(a) Cash flows from Investing Activities
(b) Cash flows from Financing Activities