Commodities | 2009-10 | 2010-11 | 2015-16 | 2016-17 |
---|---|---|---|---|
Agriculture and allied products | 10.0 | 9.9 | 12.6 | 12.3 |
Ore and minerals | 4.9 | 4.0 | 1.6 | 1.9 |
Manufactured goods | 67.4 | 68.0 | 72.9 | 73.6 |
Crude and petroleum products | 16.2 | 16.8 | 11.9 | 11.7 |
Other commodities | 1.5 | 1.2 | 1.1 | 0.5 |
Case for Free Trade
The act of opening up economies for trading is known as free trade or trade liberalization. This is done by bringing down trade barriers like tariffs. Trade liberalization allows goods and services from everywhere to compete with domestic products and services.
Globalisation along with free trade can adversely affect the economies of developing countries by not giving equal playing field by imposing conditions which are unfavorable. With the development of transport and communication systems goods and services can travel faster and farther than ever before. But free trade should not only let rich countries enter the markets, but allow the developed countries to keep their own markets protected from foreign products.
Countries also need to be cautious about dumped goods; as along with free trade dumped goods of cheaper prices can harm the domestic producers.
How have ‘globalisation’ and ‘free trade’ affected the economies of developing countries?
Case for Free Trade
The act of opening up economies for trading is known as free trade or trade liberalization. This is done by bringing down trade barriers like tariffs. Trade liberalization allows goods and services from everywhere to compete with domestic products and services.
Globalisation along with free trade can adversely affect the economies of developing countries by not giving equal playing field by imposing conditions which are unfavorable. With the development of transport and communication systems goods and services can travel faster and farther than ever before. But free trade should not only let rich countries enter the markets, but allow the developed countries to keep their own markets protected from foreign products.
Countries also need to be cautious about dumped goods; as along with free trade dumped goods of cheaper prices can harm the domestic producers.
What should be done by the developing countries to protect from negative impact of ‘free trade’? Mention any two steps.
In the given reaction sequence, the structure of Y would be:
Categories of Reporting Area | As a percentage of total cultivable land (1950-51) | As a percentage of total cultivable land (2014-15) | Area (1950-51) | Area (2014-15) |
---|---|---|---|---|
Culturable waste land | 8.0 | 4.0 | 13.4 | 6.8 |
Fallow other than current fallow | 6.1 | 3.6 | 10.2 | 6.2 |
Current fallow | 3.7 | 4.9 | 6.2 | 8.4 |
Net area sown | 41.7 | 45.5 | 70.0 | 78.4 |
Total Cultivable Land | 59.5 | 58.0 | 100.00 | 100.00 |