Learn CBSE Economics Index Terms for Class 11, Chapter 10 Development Experiences in India: A Comparison with Neighbours
1. SAARC – SAARC stands for South Asian Association for Regional Cooperation and is an intergovernmental organisation for the development of economic and regional integration. The organisation has the support of different countries known as member-state.
Since 1985, SAARC has emerged as a major initiative on the part of South Asian countries to encourage regional cooperation and promote peace and stability in the region. It also aims to promote the collective welfare of the region, bring about greater social and cultural contact among the people of South Asia, and build up self-reliance among the member states.
2. European Union – European Union is an international organisation consisting of European countries, which was formed in 1993. It came into force after the signing of the Maastricht Treaty by 28 countries. The Maastricht Treaty is also known as the Treaty of the European Union (TEU). Maastricht is a city located in the Netherlands. The Maastricht Treaty was amended thrice.
3. ASEAN – Association of Southeast Asian Nations or ASEAN is an organisation formed by the Governments of Malaysia, Indonesia, the Philippines, Thailand, and Singapore in 1967 to promote economic growth, peace, security, social progress, and cultural development in the Southeast Asian region.
4. G-8 – The group brings together eight major industrial economies of the world for consultation and policy coordination at the highest level. The G-8 consists of Canada, France, Germany, Italy, Japan, Russia, the UK, and the USA. The group aims at deliberating on and evolve strategies to deal with the major economic and political international issues.
5. G-20 – The G20 summit, founded in 1999, is the premier forum for international cooperation on the most important aspects of the international economic and financial agenda. It brings together the world’s major advanced and emerging economies.
6. BRICS – BRICS is an acronym for five emerging economies of the world: Brazil, Russia, India, China, and South Africa. The BRICS organisation aims to promote security, development, cooperation, and peace.
7. Great Leap Forward – The Great Leap Forward (GLF) campaign initiated in 1958 aimed at industrialising the country on a massive scale. People were encouraged to set up industries in their backyards.
8. Great Proletarian Cultural Revolution (GPCR) – In 1965, Mao introduced the Great Proletarian Cultural Revolution (1966-76), under which students and professionals were sent to work and learn from the countryside.
9. Special Economic Zones – A Special Economic Zone or SEZ is a specially marked territory or enclave within the national borders of a country that has more liberal economic laws than the rest of the country. A SEZ is an enclave within a country that is typically duty-free and has different business and commercial laws chiefly to encourage investment and create employment. Apart from generating employment opportunities and promoting investment, SEZs are also created to better administer these areas, thereby increasing the ease of doing business.
10. GVA – Gross Value Added (GVA) is the measure of the total value of goods and services produced in an economy (area, region, or country). The amount of value-added to a product is taken into account. GVA can be defined as output produced after deducting the intermediate value of consumption. This can also be mentioned as GVA = Gross Domestic Product + Subsidies on products – Taxes on products.
We hope that the offered Economics Index Terms for Class 11 with respect to Chapter 10: Development Experiences in India: A Comparison with Neighbours will help you.
Related Links:
Class 11 Economics Terms – Chapter 1: Development Policies and Experience (1947-90)
Class 11 Economics Terms – Chapter 2: Indian Economy (1950-90)
Class 11 Economics Terms – Chapter 3: Economic Reforms Since 1991
Class 11 Economics Terms – Chapter 4: Current Challenges Facing the Indian Economy
Class 11 Economics Terms – Chapter 5: Human Capital Formation in India
Class 11 Economics Terms – Chapter 6: Rural Development
Class 11 Economics Terms – Chapter 7: Employment, Growth, Informalisation, and Other Issues.
Class 11 Economics Terms – Chapter 9: Environment and Sustainable Development
