Category: Maharashtra State Board Notes

By going through these Maharashtra State Board Class 11 Sociology Notes Chapter 2 Contribution of Western and Indian Sociologists students can recall all the concepts quickly.

Maharashtra State Board Class 11 Sociology Notes Chapter 2 Contribution of Western and Indian Sociologists

→ France is said to be the birthplace of sociology as the foundations of sociology were laid by Auguste Comte and Emile Durkheim.

→ Sociology was later continued in other countries in Europe and the western world.

Introduction to Western Sociologists:

1. Auguste Comte (1798-1857).
2. Emile Durkheim (1858-1917)
3. Karl Marx (1818-1883)

(1) Auguste Comte (1798-1857).

• Auguste Comte is popularly known as the ‘Father of Sociology’.
• His full name was ‘Isidore Auguste Marie Francois Xavier Comte.
• He was a mathematician and philosopher, yet expressed the need for ‘reconstruction of society’.

Three Stages pf Evolution:

1. Theological Stage
2. Metaphysical Stage
3. Positive/Scientific Stage

(2) Emile Durkheim (1858-1917)

• Emile Durkheim has written on social facts, social solidarity, collective representation, social values and morality, crime and punishment.
• He has elaborated an analysis of suicide as a social fact and phenomenon in his book. ‘Le Suicide’.
• Durkheim, “suicide refers to every case of death which results directly or indirectly from a positive or negative act, carried out by the victim himself, knowing that it will produce this result”.

Forms of Suicide:

1. Fatalistic Suicide
2. Altruistic Suicide
3. Egoistic Suicide
4. Anomic Suicide

(3) Karl Marx (1818-1883)

• Karl Marx is also known as the architect of communism.
• In his ‘Communist Manifesto’ he said that at every stage in history, there is a war between the classes.
• According to Marx, the economic factor forms the basis of class.

Theory of ‘Class Conflict’ :

• The Importance of Property
• Class Solidarity and Antagonism
• Polarization of Classes
• Revolution
• Surplus Value
• Dictatorship of Proletariat
• Pauperization
• Emergence of the Communist Society
• Alienation

Introduction to Indian Sociologists:

• ‘Sociology’ and ‘Social anthropology’ were brought to India by British scholars living in India.
• Indian scholars trained in Britain and USA played a major role in the development of their two disciplines.
• A separate department was started in the University of Mumbai (then Bombay) in the year 1919.
• Indian sociologist played a major role in the development of sociology in India, with their specific
  contributions.

By going through these Maharashtra State Board Class 11 Sociology Notes Chapter 1 Introduction to Sociology students can recall all the concepts quickly.

Maharashtra State Board Class 11 Sociology Notes Chapter 1 Introduction to Sociology

→ Initially, sociology as a discipline emerged in Europe, but sociology emerged as an independent and separate discipline in the mid 19th century. Sociology is the science of social relationships and social behaviour. The French philosopher Auguste Comte is considered to be the ‘Father of Sociology’.

Nature of Sociology:

1. Empirical Science
2. Theoretical and Applied Science
3. Factual Science
4. Holistic Science

The emergence of Sociology: The roots of the emergence of sociology as a scientific discipline can be traced during the French Revolution and Industrial Revolution of European history which embodied tremendous Social, Political, and Economical changes. This period of change in European Society is known as the ‘Enlightenment period.’

Factors that affect the emergence of sociology:

1. Commercial Revolution
2. Industrial Revolution
3. French Revolution
4. scientific revolution
5. Urbanization

→ The subject matter of Sociology is very wide, because all aspects of social interactions are included in Sociology.

Scope of Sociology:

• Bio-Sociology
• Sociology of Art
• Sociology of Market Research
• Visual Sociology
• Diaspora Sociology

Importance of Sociology:

• studies society in a scientific manner
• gives knowledge about social diversities
• develops a scientific approach
• career-oriented
• solution to social problems
• keeps people updated and alert

By going through these Maharashtra State Board Organisation of Commerce and Management 11th Notes Chapter 2 Trade students can recall all the concepts quickly.

Maharashtra State Board Organisation of Commerce and Management 11th Notes Chapter 2 Trade

Meaning of Trade-

Trade means the process of exchange of goods and services with an object of earning profit estab1ishin
link between producers and consumers.

Types of Trade :

1. Internal Trade
2. External Trade

Internal Trade

• Wholesale Trade
• Retail Trade

Retail Trade

1. Itinerant Retailers
2. Fixed Shop Retailers

Itinerant Retailers:

• Hawkers
• Peddlers
• Street Traders
• Cheap Jacks
• Market Traders

Fixed Shop Retailers

1. Small Scale Retailers
2. Large Scale Retailers

Small Scale Retailers-

• General stores
• Second hand goods shops
• Authorized dealers
• Speciality shops

Large Scale Retailers

• Departmental Stores
• Supermarket Stores
• Chain Stores
• One price shops
• Malls

Channel Of Distribution-

• Producer / Manufacturer
• Wholesaler
• Retailer
• Consumer

Wholesale Trade-

By Philip Kotler
“Wholeselling includes all activities involved in selling goods or services to those who buy for resale or for business use.”

By Evelyn Thomas
“A true wholesaler is himself neither a manufactures nor a retailer but act as a link between the two.”

Features of Wholesaler-

• Purchases goods from the producer in large quantities.
• Takes risk in the process of distribution.
• Deals with one or few types of goods.
• A large amount of capital is required.
• Maintains price stability by balancing supply and demand factors. Manufacturers get direct information about market.
• Sells the goods to the retailers.

Performs the marketing functions-

• Assembling
• Warehousing
• Transporting
• Advertising
• Grading

Services of Wholesalers

1. To Retailers
2. To Manufacturers

To Retailers

• finance Assistance
• Collecting order and Distribution of Goods
• Large Purchase
• Transportation
• Risk Bearing
• Provide Market Information
• Marketing Function
• Storage

To Manufacturers

• Financial Support
• Market nformation
• Risk Bearing
• Stock of Goods
• Warehousing and [ ransport
• Regular Supply
• Sales Promotion

Retail Trade-

Meaning of Retail Trade:

According to Oxford Dictionary “Retail is sale of goods to the public in relatively small quantities for use or consumption rather than for resale”

According to William Stanton “Retail Trade includes all activities directly related to the sale of goods and services to the ultimate consumer for personal and non business use”

Features of Retailers-

• Link between the wholesaler and consumers.
• Operates in local markets.
• Deals in wide varieties of goods in small quality.
• Limited investment is required.
• Less risk and low amount of profit.

Services of Retailers:

1. Service to Wholesaler
2. Service to Consumers

Service to Wholesaler

• Create demand
• Helps to Distribute
• Marketing
• Financing
• Attracts Consumers
• Provides Information
• Connecting Link
• Increase Sales

Service to Consumers

• Variety of Goods
• After Sales Services
• Regular Supply of Goods
• Credit Facilities
• Home Delivery
• Information
• Local Convenience
• Improves Standard of Living
• Sale of Perishable Goods

Types of Retailers-

Itinerant Retailer – Retailers who do not have a fixed place or shop for their business.

• Hawkers: They move from one place to another carrying goods in hand cart.
• Peddlers:  They carry goods on their head in baskets or container.
• Street Traders: They do business on footpaths of busy street of cities and towns
• at crowded places like market places, bus stops, railway stations, etc.
• Cheap Jacks: They have independent shops with temporary setup, keep on changing places of their business.
• Market Traders : They open their shops on market days i.e. on different places on fixed days.

Retailers-
Fixed Shop Retailers
Small Scale Fixed Retailers

They Conduct their business operations on a small scale and deal in variety of goods)

• General Stores: They sell goods which are required by people for their day to day needs situated near residential areas of the city or town.
• Second hand Goods shop :They purchase and sell used goods at cheap rates, which are lack of quality, durability and guarantee.
• Authorized Dealer: They have authorized dealership of particular manufacturers of goods. They get good commission from manufacturers.
• Speciality shops: They deal in particular line of goods, offer goods at varying price range with wide range of choice, giving expert advice to the customer.

Retailers-
Fixed Shop Retailers
Large Scale Fixed Retailers

(They conduct their business operations on a large scale by investing huge capital, selling variety of quality goods and located at localities of the city)

Department Stores-

Meaning of Department Stores:
According to James Stephenson
“A big store engaged in the retail trade of variety of articles under the same roof”

According to G.B. Giles
“A departmental store is collection of shops under one roof and ownership, each shop or department specializing in selling a special range of goods’

Features of Department Stores-

1. Shopping Convenience
2. Centralized Management
3. Wide Variety of Goods
4. Specialization
5. Central Location
6. Huge Capital
7. No Create Facility

Super Market Shop –

“A large store selling a wide variety of consumer goods, particularly food and small articles
of household requirements.”

Features of Super Market Shop –

1. Location
2. Types of Goods
3. Self Service
4. Reasonable Prices
5. Capital
6. Cash Sales
7. Attractive Packing
8. Impulsive Buying

Chain Stores-

Definition of Chain Stores:
According to James Stephenson “A chain store shops consists of a number of similar shops owned by a single business firm”.

According to Clark and Clark
“Chain stores system consists of a number of retail store, which sell similar products are centrally owned and operated under one management”.

Features of Chain Stores-

• Low and Uniform Price
• Uniformity
• Limited Range of Goods
• Large Investment
• Distribution through Branches
• Cash Sales
• Quality of Goods
• Impulsive Buying

One Price Shop-

Meaning

• The shops where the prices of all the products or goods are same is known as one price shop.
• Selling a large variety of goods of daily use at low prices.

Features of One price Shop

• Uniform Price
• Low Price
• Variety of Goods
• Location
• Cash Sales
• Less Capital

Mall
Meaning —A mall is large enclosed shopping complex containing various stores, business and restaurants.
Features:

• Enables customer to buy different products from one unit to other units of mall.
• Entertainment venues such as movie theaters and restaurants.
• Variety of things available at one place.

International Trade-
Meaning — When the trade activities are conducted between two or more countries, it is called as ‘International Trade’.

International Trade (External Trade)-

1. Export Trade
2. Import Trade
3. Entrepot Trade

Export Trade-
Meaning — Export trade refers to sale of goods and services to foreign country.

Export Procedure-

1. Priliminary Stage
2. Preshipment Stage
3. Shipment Stage
4. Post Shipment Stage

Priliminary Stage:

• Registration
• Appointment of Agent

Preshipment Stage:

• Receipt of order
• Letter of credit
• Pre-shipment finance
• Production
• Packaging
• ECGC cover (Export Credit and Guarantee Corporation
• GST Formalities (Goods and Services tax)
• Marine Insurance
• C & F agents (Clearing and Forwarding)

Shipment Stage:

• Processing
• Examination of goods
• Loading of goods

Post Shipment Stage:

• Shipment advice
• Presentation of document
• Realization of incentives
• Follow up

Import Trade-
Meaning — Import trade refers to the purchase of goods and services from foreign country.

Import Procedure –

1. Priliminary Stage
2. Pre Import Stage
3. Import Stage
4. Post Import Stage

Priliminary Stage:

• Registration
• Negotiation

Pre Import Stage:

• Quota – Certificate
• Foreign Exchange
• Order placement
• Letter of Credit
• C & F Agent
• Shipment Advice

Import Stage:

• Receipt of Document
• Bill of entry
• Delivery of order
• Custom Clearance

Post Import Stage:

• Post trust due
• Custom duty
• Insurance premium
• Freight payment
• Exporter payment
• Follow-up

Entrepot Trade-
Meaning — The term entrepot is referred to as a seaport or warehouse where goods would be imported for storage or process before re- export.

Word Meaning:

vital – important; strategies – planning; entity – individual body; relatively – in comparison; promotion – to support; barter – exchange of goods and services without using money; preferences – likings; simplified
– easy; salesmanship – skill or ways to use sell something; establishes – builds; arrivals – new things; itinerant – travelling from one place to another; window display – in a shop product are display to attract the customer; sufficient – adequate / enough; channel – medium / method; after sales service – providing service after purchasing something; intermediaries – middleman; durable – long lasting; stability – fixed; commission – monetary benefits for service provided; assembling – to collect; urbanization – making an area to a city; grading – to arrange as per size and shape; recruitment – appointment; valuable – very useful; access – approach; fluctuations – rise and fall of something; variants – different; induced – influence / attracted; impulsive – unplanned / quick; appearance – the way that something looks like; discrepancies
– differences; irrespective – without consideration; overhead – above; bargaining – to discuss; door to door – way of marketing from one door to another door; reasonable – fair; globe – world; complex – a whole structure of building interconnected; tariff – tax / duty; prompt – quick; convenience – without any effort; lengthy – very long; exporter – a person / company that send goods or services to another country; importer – a person / company that buys goods or services from another country; transit – transport; incentive – benefit; indigenous – local; freight – goods transported by train / ship / truck; quota – quantity; overseas – foreign country; port – a place where ships are loaded and unloaded.

By going through these Maharashtra State Board Secretarial Practice 12th Commerce Notes Chapter 11 Financial Market students can recall all the concepts quickly.

Maharashtra State Board Class 12 Secretarial Practice Notes Chapter 11 Financial Market

→ Every business has to raise short and long-term funds to meet the working and fixed capital needs of the business.

→ Financial Market is a place where borrowers and lenders are coming together.

→ Financial Market consists of –

(1) Money Market – Provide Short term loans
RBI controls over money market

(2) Capital Market – Provide Medium / Long term loans
SEBI controls over capital market

→ Financial Market is advancing loans to an individual, public and private institutions, state-local-central Government.

→ Money Market is dealing with –

1. Treasury Bills
2. Commercial Papers
3. Certificate of Deposits
4. Commercial Bills
5. Money Market Mutual Fund
6. Repo and Reverse Repo

→ Capital Market is dealing with –

1. Shares
2. Debentures
3. Bonds
4. Mutual Funds etc.

By going through these Maharashtra State Board Organisation of Commerce and Management 11th Notes Chapter 1 Introduction of Commerce and Business students can recall all the concepts quickly.

Maharashtra State Board Organisation of Commerce and Management 11th Notes Chapter 1 Introduction of Commerce and Business

Human Activities –

Non-Economic Activities

• Done without monetary reward.
• Done to satisfy personal social or religious requirements.
• Examples
  • Teacher teaching her son.
  • Serving people.
  • Cooking by mother, etc.

Economic Activities:

• Involves production, distribution and consumption of goods and services.
• Done for monetary reward
• Examples
  • Teacher teaching in a school.
  • Worker working in a factory.
  • Doctor working for a hospital.
• Further divided into 3
  1. Business
  2. Profession
  3. Employment

Definition of Business-

By Prof. L. H. Haney
“Business activities are all those human activities which are directed towards the prod uction and processing of wealth”

By Pride, Hughes and Kapoor “The organised efforts of individuals to produce and sell for a profit, the goods and services that satisfy society’s needs”

Characteristics / Features of Business-

1. Continuity in Dealings: Every business requires regularity in transactions.
2. Uncertain Returns: Returns are never predictable or guaranteed, it may earn profit or suffer a loss.
3. Risk Element: Exposure to loss due to some unfavorable or undesirable event. Intensity of risk can be minimized but can’t be avoided.
4. Satisfaction: Satisfying the customers by providing quality products and services at a reasonable price.
5. Two Parties: Minimum two parties are required for exchange i.e. the seller and the buyer.
6. Economic Activity : To earn money or livelihood.
7. Profit Motive :
8. Basic purpose of business is to earn the profit.
9. It is spine of business which keeps the business growth till long term.
10. Production of Goods and Services : Goods are either manufactured or procured from the supplier with aim of selling to consumers for profit.
11. Exchange of Goods and Services :
    1. Transfer of goods and services directly or indirectly with money or money’s worth.
    2. e.g. Buying clothes against cash.
12. Dealings in Goods and Services :

• Every business is involved either with Goods or Services.
• Goods-
  • Consumer Goods (Tea, Milk, Pencil, etc.)
  • Capital Goods (Machinery, Plant, Furniture, etc.)

Profession-
Part of economic activities under which a person uses his educational knowledge and special skill to
render services for earning some income.
e.g. Doctor, Lawyer, Chartered Accountant, Professor, etc.

Features of Profession-

(i) Qualification : Practiced after acquiring required qualifications.

(ii) Returns :

• Professional gets fees in exchange of service rendered.
• Can be employed in an organization or self employed.

(iii) Capital:

• Either can be practiced independently or professionals can work under someone.
• Independent practiced professional requires huge capital for setup.

(iv) Work Nature :
Professionals hold special knowledge and do skillful work like Doctors , Lawyers, etc.

(v) Aim:

• Practiced for earning money.
• Render service to their clients and solve their problems.

(vi) Registration and Membership : Professionals have to register them with their respective council and get certificate for practice.

(vii) Non-transferability : Profession cannot be transferred to other person on the will of professional.

Employment-

• It is an economic activity in which people work for others for remuneration.
• Term and conditions are agreed by both employer and employee.

Features of Employment-

(i) Qualifications:

Skilled Job

• Requires specific qualifications,
• E.g. Job of Accountant or Nurse

Unskilled

• Requires specific qualifications,
• E.g. Office boy or Clerk.

(ii) Monetary Returns :

Wages

• Decided in advance before appointment.
• Paid daily or weekly.

Salary

• Paid monthly
• Other benefits are also provided.

Capital: No capital is required for employment.

Nature of Work : The nature of job decide the nature of work.

Aim: To earn money for meeting needs of employer and employee.

Registration:

• No registration is required.
• Has to follow rules and regulation as mentioned in the terms and conditions of the employment- contract.

Non-transferability : Employment cannot be transferred from one person to another.

Business Objectives-

1. Economic Objectives
2. Social Objectives

Economic Objectives

• Searching New Customers
• Earning Profit
• Best Possible use of Resources
• Innovations

Social Objectives

• Contributing to the welfare of the society
• Avoiding unfair trade practices
• Supplying quality Products
• Help to solve social problems
• Employment generation
• Welfare of employees

Role of Profit in Business
Profit = Revenue – Total Cost

Role of Profit

1. Returns to investor
2. Research and Deve1opmen
3. Growth and Expansion
4. Increases efficiency
5. Means of livelihood.
6. Reputation .
7. Reward for risk
8. Survival

Classification of Business Activities-

1. Industry
2. Economic Activities-

Industry:

1. Primary Industry
2. Secondary Industry
3. Tertiary Industry

Primary Industry

• Industry
• Agriculture
• Extractive
• Genetic

Secondary Industry

• Manufacturing
• Construction

Tertiary Industry

• Transport
• Banking
• Hotel
• Tourism
• Entertainment

Economic Activities-

• Trade
• Auxiliaries to trade-

Trade

• Home Trade
• Foreign Trade

Home Trade

• Wholesale Trade
• Retail Trade

Foreign Trade

• Import
• Export
• Entrepot/ Re-export

Auxiliaries to trade-

• Transport
• Warehousing
• Insurance
• Banking
• Advertising
• Mercantile agents
• Communication

Word Meaning:

monetary – related to money; consumption – using; livelihood – to get basic needs of life; systematic – properly arranged; reward – returns; multiple – many; complex – difficult; manpower – human; cultivating – a process in farming; warehousing – place where goods are stored; spine – backbone; intangible – can’t be seen physically; continuity – regularly; predictable – expected; intensity – force; render – provide; acquiring – obtaining; code of conduct – set of rules; expert – person knowledgeable in a particular area; remuneration – salary; quarters – place to stay provided by company to his employees; subsidized – in low cost; bulk – in large quantity; survival – continuing to live; scarce – short in supply; unfair trade – wrong business practice; black marketing – illegal trade; misleading – false information; divyang – physically challenged; welfare – wellbeing; impartial – equal treatment; incentives – benefits in terms of money; retention – continuation; volume – size; diversification – process of enlarging the business; adverse – unfavorable; utility – useful; crude – raw material; tertiary – service; uninterrupted – continuation; auxiliaries – assistant; hindrances – problems; reasonable – low cost; rescue – save; desire – strong wish to have something; prominent – important; scattered – found in various location; information explosion – increased amount of information; broader – large; narrow – limited.

By going through these Maharashtra State Board Secretarial Practice 12th Commerce Notes Chapter 12 Stock Exchange students can recall all the concepts quickly.

Maharashtra State Board Class 12 Secretarial Practice Notes Chapter 12 Stock Exchange

→ Stock exchange is a place where securities are traded i.e. buying and selling takes place.

→ Stock Exchange in India is regulated by SEBI i.e. Securities Exchange Board of India.

→ The Securities Control (Regulation) Act 1956 provides rules for the functioning, licensing and controlling speculations of Stock Exchanges.

Stock Exchange in India:

1. Bombay Stock Exchange
2. National Stock Exchange

Bombay Stock Exchange (BSE)-

• – It is the oldest stock exchange in Asia which was established in 1875.
• – BSE was the first Stock Exchange in India.
• – The index of BSE is called Sensex or BSE 30.
• – In February 2001, BSE has launched BSEWebx.co.in an internet trading system.

National Stock Exchange of India (NSEI)-

• NSEI was incorporated in November 1992.
• First demutualized electronic exchange in India.
• The Index of NSE is called as the NIFTY launched in 1996.

Agents in Stock Exchange-

1. Boker
2. Speculator

Boker:

• Stag
• Lame Duck
• Wolves

Speculator:

• Bull
• Bear

By going through these Maharashtra State Board Class 11 History Notes Chapter 14 Delhi Sultanate, Vijayanagar and Bahamani Kingdom students can recall all the concepts quickly.

Maharashtra State Board Class 11 History Notes Chapter 14 Delhi Sultanate, Vijayanagar and Bahamani Kingdom

Political conditions in India:
After the decline of Harshavardhan’s empire many big and small kingdoms came into being in North India. There was constant struggle for power among these kingdoms. There was no power, who could have control over the rulers of these kingdoms. The Turkish invaders took advantage of this political instability of India in the 13th century.

During this period many petty rulers existed such as Chauhans of Rajasthan, Pratiharas, and Gadhwals (Rathod) of Kanauj, Chandellas of Bundelkhand, Parmars of Malwa, Kalachuris of Gorakhpur, Kalachuris of Tripuri (Madhya Pradesh), Chalukyas (Solanki) of Gujarat, Palas of Bengal etc. They did resist the invasions of the Turks individually but they did not unite for it.

Arab and Turkish invasions:
Muhammad bin Qasim of the Ummayad dynasty attacked Sindh in the year 712 C.E. He conquered. the entire region from Sindh to Multan. After Muhammad bin Qasim, the Arabs rule in India grew unstable. In India, Islamic rule was established by the Turks.

They attacked India several times. None of the rulers in India could successfully resist them. The Turks looted enormous wealth from India. Many kingdoms were destroyed and Islamic rule was established.

Alauddin Khalji and Yadavas of Devgiri:
After Qutubuddin Aibak, Iltutmish came on the throne of Delhi. After his death, his daughter Razia became the Sultan of Delhi. After Razia, Balban was an important Sultan who ruled Delhi. After the end of the slave dynasty, the Khalji dynasty came to power.

Alauddin Khalji attacked Yadavas of Devgiri and collected enormous wealth. Devgiri was a prosperous city in the South. King Ramadevarai Yadava was ruling over Devgiri. Alauddin attacked Devgiri in 1296 C.E.

In face of the sudden attack Ramadevarai took shelter in the fort of Devgiri (Daulatabad). Alauddin seized the fort. He plundered the city. There was an acute shortage of food in the fort. Finally, Ramadevarai had to sign a treaty with him. Alauddin conquered nearby provinces of Devgiri as well, and collected a large booty as part of the treaty.

Trade and Commerce:
Agriculture was the main occupation of majority of people during the Sultanate period. Agricultural production and its revenue were the main sources of revenue. Along with it, textile industry also flourished on large scale. Delhi, Agra, Lahore, Multan, Banaras, Patna, Khambayat, Burhanpur, Devgiri were the main centres of textile industry during this period. The cotton cloth was exported on a large scale from Bengal to Gujarat. The textile exports included muslin, linen cloth, satin and jari cloth.

Urbanisation:
The rise and fall of the cities depend on its political and cultural graph of events. The process of urbanisation is associated mainly with political and economic development. The rulers play an important role in the settling and development of a city. According to the Arab historian, Ibn Khaldun, trade gains momentum as a result of conducive policies of the ruler. Some cities gain importance as administrative centres while others gain importance as industrial centres.

Art, architecture, literature, social life:
The Sufi saints have greatly contributed to the development of Indian music. The followers of Khwaja Moinuddin Chisti used to present ‘Qawwali’ every evening in the court of Delhi. It. became a popular form of vocal music. Hussain Shah Sharukhi developed the Khayal style of vocal music The Islamic rulers built huge mosques, dargahs, and tombs.

It presents a beautiful blend of Iranian and Indian architecture. Qutubuddin Aibak was the first ruler to have started building monuments in this style, which is known as Indo-Islamic architecture. He built the ‘Quwwat-i-Islam’ mosque at Delhi.

Later, many buildings were built in the precincts of Kutub Minar. Among them are the ‘Alai Darwaza’ and Jamalkhan mosque built by Alauddin Khalji. Firoz Shah Tughlaq built Fatehabad and Hisaf-i-Firuz. He built many forts, bridges, dharamshalas and canals. The buildings built by the Sultans of Tughlaq dynasty were huge but simple.

Vijaynagar Empire:
At the end of 13th century, Alauddin Khalji’s invasions, the coffers of local rulers in South India were emptied to a great extent. This was the time when Harihara and Bukka established new kingdom of‘Vijaynagar’ in 1336 C.E.

During the rule of king Krishnadevaraya, the kingdom expanded into an empire spreading from South Konkan in the west to Vishakhapatnam in the East and Krishna river in the north to Kanyakumari in the south. Krishnadevaraya wrote a text entitled, ‘Amuktamalyada’ which is about the State and Policy.

Bahamani Kingdom:
In 1347 C.E. some of the Sardars in south revolted against Sultan Muhammad Tughluq under the leadership of Hasan Gangu. They captured the fort of Daulatabad. Hasan Gangu took up the title, ‘Alauddin Bahamatshah’ and established the Bahamani kingdom.

During the period of Bahamani rule, the Prime Minister (Vazir) Mahmud Gawan strengthened the kingdom. He paid the soldiers with fixed salary instead of Jahagirs (land grants). Gawan was interested in mathematics and medicine.

After the death of Mahmud Gawan, the Bahamani court was divided into different factions. This led to the disintegration of the Bahamani kingdom into five small ruling houses – Imadshahi of Varhad, Baridshahi of Bidar, Adilshahi of Bijapur, Nizamshahi of Ahmednagar and Qutubshahi of Golconda.

By going through these Maharashtra State Board Class 11 Economics Notes Chapter 9 Economic Policy of India Since 1991 students can recall all the concepts quickly.

Maharashtra State Board Class 11 Economics Notes Chapter 9 Economic Policy of India Since 1991

→ Objectives of Economic Policy of 1991

• Plunge Indian economy to arena of Globalisation.
• Bring down rate of inflation.
• Correct the disequilibrium in balance of payments.
• Acquire higher economic growth rate.
• Build sufficient Foreign Exchange Reserves.
• Establish international trade relations without any restrictions.
• Increase the participation of private sector.
• Achieve economic stabilisation and reduce fiscal deficit.

→ Features of the Economic Policy of 1991:

• Delicensing
• Abolition of Monopolies and Restrictive Trade Practices (MRTP) Act
• Encouragement to small sector
• Encouraging Foreign Investment – (FDI)
• Reducing role of Public Sector
• Trade Liberalisation – SEZ and AEZ
• Reforms in Insurance Sector – IRDA
• Reforms in Financial Sector

→ Components of New Economic Policy:

1. Liberalization
2. Privatization
3. Globalization

→ Liberalization — Economic freedom or freedom for economic decision.
Measures Taken For Liberalization:

1. Flexibility of Interest rate
2. Freedom for expansion of industries
3. Abolition of Monopolies and Restrictive Trade Practices
4. Reforms in FERA
5. Investments in infrastructure
6. Encouragement to foreign technology
7. SEBI (Securities and Exchange Board of India)

→ Privatisation→ Privatisation means transfer of ownership from public to private sector.
Measures Taken For Privatisation:

• Disinvestment
• Dereservation policy
• Establishment of BIFR (Board of Industrial and Financial Reconstruction)
• Creation of National Renewal Board (NRB)
• Navratna Status

→ Navratnas:

1. IOC : Indian Oil Corporation
2. ONGC : Oil and Natural Gas Corporation
3. HPCL: Hindustan Petroleum Corporation ltd
4. BPCL: Bharat Petroleum Corporation Ltd
5. IPCL: Indian Petrochemicals Corporation Ltd
6. VSNL : Videsh Sanchar Nigam Ltd
7. BHEL: Bharat Heavy Electricals Ltd
8. SAIL : Steel Authority of India Ltd
9. NTPC : National Thermal Power Corporation Ltd

→ Miniratna Government Of India:

Category – I

Conditions:

• Public sector company having made profit in last 3 years continuously.
• Pre-tax profit- Rs 30 crores or more in atleast one of the 3 years.

Category – II

Conditions:

• Public sector company having made profit for last 3 years.
• Company to have positive net worth.

→ Maharatna Companies:
Central Public Sector Enterprises (CPSEs)
introduced in 2009

Objectives:
To expand operations of mega CPSEs and make them emerge as global
giants like Indian Multinational Companies

→ Globalization:

• Globalization means the creation of global economy. OR
• Integrating an economy with the world economy.

→ Measures Taken For Globalization:

1. Removal of quantitative restrictions
2. Encouragement to Foreign Capital
3. Convertibility of Rupee
4. Foreign collaboration
5. Long term trade policy
6. Encouragement to Exports

→ Evaluation of Economic Policy of 1991 :
Major Achievements:

1. Revolution in IT Sector
2. Solves the problem of scarcity
3. Improvement in Financial Facilities
4. Diversification of cropping pattern
5. Improvement in educational standards
6. Increase in Exports

→ Major Failures In Economic Policy 1991:

1. Lack of Self Sufficiency
2. Unemployment
3. Adverse effect on domestic market
4. Neglects Welfare Aspect
5. Affects poor farmers
6. Unhealthy Competition

Word Meaning:

crisis – time of severe difficulty; socialistic – owned by society as a whole, momentum – gained, unshackle cobweb – set free, bureaucratic – government administrative, plunge – jump, disequilibrium – lack of stability in relation to demand and supply, fiscal deficit – total expenditure is in excess of total revenue, delicensing – cancellation of government license, strategic – long term, hazardous – dangerous, merger – to combine, sick – serious problem suffered by organisation or company, abolished – stopped, era – period, retrenched – to cut down, globalisation – working world wide, integrating – combining, barriers – obstacles, quantitative restrictions – to stop something in terms of quantity, tariff rates – tax rate, collaboration – to associate, revolution – to bring major change, diversification – to change the line of business/to expand, scarcity – short supply, self sufficiency – to be independent, cheaper – low in price, unnoticed – not observed, exhorbitant – extremely high, back seat – to take no interest/less importance, compelled – to force to do something.

By going through these Maharashtra State Board Class 11 Economics Notes Chapter 8 Poverty in India students can recall all the concepts quickly.

Maharashtra State Board Class 11 Economics Notes Chapter 8 Poverty in India

→ Poverty:

1. Denial of Opportunities
2. Socio – economic Phenomenon
3. Deprivation of basic needs
4. Social exclusion

→ Poverty in India During British Period:

1. Economic drain of resources
2. Recurrence of famines
3. Decline of handicraft and cottage industries
4. Oppressive economic policies

→ Policy Measures Undertaken By India Government:

1. Economic Planning
2. Economic Reforms
3. Antipoverty Programme
   → (Garibi hatao)

→ Meaning Of Poverty:

1. Conventional
2. Material Dimensions Poverty

1. Conventional:
Unable to fulfill the basic needs of life i.e. (food, clothing and shelter)

2. Material Dimensions Poverty:

Deprivation in terms of Material Dimensions
e.g.:
food, clothing, shelter, health,
education, road connectivity,
electricity, access to safe drinking
water and sanitation

Deprivation in terms of Non-Material Dimensions
e.g.:
Socio-discrimination

→ Concept Of Poverty:

Absolute Poverty:

• Measured in terms of minimum calorie intake.
• In rural area — per capita daily calorie requirement is 2400 for a person.
• In urban area — per capita daily calorie requirement is 2100 for a person.
• Found in developing and under developing count ries.
• Can be eradicated.

Relative Poverty:

• Measured in terms of differences in the levels of income, wealth, consumption economic inactivity.
• Universal phenomenon.
• Found in all the countries of the world.
• Cannot be completely eradicated.

→ Poverty line

• It is as imaginary line that divides the poor and non-poor.
• Determined in terms of per capita household expenditure.
• As per task Force on Eliminating Poverty constituted by NUT Aayog it is defined as “the threshold expenditure”

OR
the amount necessary to purchase a basket of goods and services that are considered necessary to satisfy human needs at socially acceptable levels.

→ Objectives Of Poverty Line:

1. Determine population living above poverty line (APL) and below poverty line (BPL)
2. Identify the poor on the basis of household consumption expenditure
3. Tracking poverty in a region over a time period and comparing
4. Provide estimate of required expenditure on poverty alleviation programmes

→ Income Pyramid:

→ Types Of Poverty:

1. Rural Poverty
Deprivation of basic needs among section of people living in the villages

Found Among:

• small and marginal farmers.
• agricultural labourers
• contractual labourers
• landless labourers

Reasons:

• low agricultural productivity
• drought
• poor rural infrastructure
• illiteracy
• lack of alternative jobs
• rural indebtedness

Urban Poverty:
Absence of basic needs among section of people living in town and cities

Reasons:

• spillover effects of migration
• lack of affordable housing
• illiteracy
• slow industrial growth

Effects

• growth of slums
• informal sector
• creates law and order problems

→ Causes Of Poverty :

• Other factors
• Population explosion
• Slow economic growth
• Vicious Circle of Poverty
• Unemployment and Underemployment
• Regional Imbalance
• Economic inequalities
• Inflation
• Inaccessibility to infrastructural facilities

→ Vicious Circle Of Poverty:

• Low investments
• Low production
• Less employment
• Low National income
• Low per capita income
• Low savings
• Low capital formation

→ Effects Of Poverty:

1. Retards economic progress
2. Low national income and per capita income
3. Environmental deterioration
4. Low standard of living
5. Misery and economic hardships
6. Low savings, investments and capital formation
7. Misallocation of resources
8. Concentration of economic power and unequal opportunities
9. Rise of anti social and anti national activities.
10. Conflict between rich and poor

→ Measures To Eradicate Poverty:

1. Control of population
2. Nationalization of Banks
3. Agriculture
4. Progressive Tax Measures
5. Rural works
6. Education
7. Rural industrialization
8. Affordable Housing
9. Minimum wages
10. Health Facilities
11. Public distribution system
12. Skill development and Self Employment

→ 17th October is observed as International Day for Eradication of poverty.

Word Meaning:

phenomenon – a situation that happens, imaginary – unreal, perceived – to consider, threshold – beginning, exclusion – excluding, trapped – shut in, deprivation – to lack something, miseries – hardships/sufferings, denial – not having something, drain – getting exhausted, racial – relating to race of individual, recurrence
– occurring of event again and again, conventional – ordinary, emerged – appear, civil liberties – individual freedom for betterment of society, starvation – lack of food, misallocation – wrong distribution, multifaceted
– many features, vulnerable – risk, calories – energy value of foods, nationalization – transfer of branch of industry from private to state ownership, spillover – over flow, beverages – liquid refreshment to drink, – conveyance – transport, bottlenecks – obstruction, vicious – dangerous, rehabilitation – restoring/ resettlement, correlate – to connect, enrolment – to seek admission.

By going through these Maharashtra State Board Secretarial Practice 11th Commerce Notes Chapter 5 Members of a Company students can recall all the concepts quickly.

Maharashtra State Board Class 11 Secretarial Practice Notes Chapter 5 Members of a Company

Meaning of Member-

• Member means a person whose name is entered in the Register of Members of Company and also includes holder of equity shares as per the records of Depository.
• Two pre requisites for person to be a member.
  • agreement in writing to take shares of company.
  • registration of the person so agreeing in Register of Members of the Company.

Member v/s Shareholder-

(i) Member without being a shareholder

• Signatories to the Memorandum of Association
• Company Limited by Guarantee Amount
• Membership by Acquiescence / Estoppel
• Transfer of shares
• On death of a Member / By Succession / Transmission of shares
• On Insolvency of a Member.

(ii) Shareholder without being a Member

• The transferee (Buyer of the Shares)
• Official Receiver in case of insolvency, Legal heir in case of death

Eligibility Of Membership-

1. Cannot be a Member-
I. Individual

• Minor himself
• Insolvent
• Insane

II. Organisation:

• Partnership firm
• Hindu Undivided Family (HUF)

Can be a Member

I. Individual

• Foreigner
• Karta of HUF / partners
• Individual partners

II. Organisation:

• Company
• Co-operative Society
• Limited Liability Partnership (LPP)
• Registered trust

Acquisition of Membership (One can become member of the company).

• By subscribing to the Memorandum
• By application and allotment of shares
• By holding Shares in Dematerialized form
• By transfer
• By transmission of shares
• Nominee of One Person Company (OPC)
• By Acquiescence

Cessation / Termination of Membership (A person ceases to be the member of company)

• Transfer of Shares
• Death or insolvency of a member
• Sale of Shares by the member in buy back offer
• Forfeiture of Shares
• Surrender of Shares to company
• Exercising of lien over the Shares of a member
• Redeemable Preference Shareholders on redemption of Preference Shares
• Person who rescinds(cancel) the contract of membership on the ground, he/she was cheated
• Winding up of the company

Rights of a Member-

(1) Rights of accessing Books and Documents:

• To get copies of Memorandum and Articles of Association, Auditor’s and Directors reports, Balance Sheet, Profit and Loss account.
• To inspect Register of Members, Debenture-holders, etc.

(2) Right to make Fundamental Corporate Decision:

• Change of Registered office of Company
• Increase in Authorized Capital
• Change of objects of the company
• Amend Articles of Association
• Acquisitions, Mergers and Takeovers
• Appointing Sole – Selling agents
• Winding up of the Company

(3) Right to Participate in General Meetings:

• To receive the notice and agenda of all general meetings
• To appoint proxy, vote at meetings
• To call Extra Ordinary General meeting, etc.

(4) Right to appoint and remove a Director

(5) Right with respect to Company’s accounts and its audit:

• To approve the annual accounts at the Annual General Meeting
• To appoint auditors
• To remove auditors

(6) Right to Participate in Profits of the company:
To approve dividend and get the same within 30 days of its declaration

(7) Shareholding Rights:
To receive share certificate, transfer of shares, Rights Issue and Bonus Issue of shares

(8) Right to receive Surplus Assets:
To get share in surplus assets of company (if any), in event of liquidation of company

(9) Right to Class Action Suit:

• against company or its directors
• in the event of any fraudulent, unlawful or wrongful act or omission
• misleading statements in the audit report

Duties and Liabilities of a Member-

• to abide all the contents of Articles of Association.
• to pay full value of shares issued.
• liable for all debts of the Company (Unlimited Liability Company).

Word Meaning:

eligibility – necessary requirements; acquisition – to obtain; cessation – to end; depository – institution where shares are held in electronic form; interchangeable – similar; acquiescence – agreement; estoppel – by any previous law; misrepresents – giving a false details; refuting – rejection; succession – in continuation; deceased – death; transmission – to pass on; insolvency – financially loss incurred by individual or company(liabilities more then assets); sui-juris – legally capable; insane/lunatic – mental imbalance; render – to provide / to give; dematerialized – convert shares from physical form to electronic form ; insanity – mentally ill; administrator – a person who carries out administers or manage the business; forfeiture – to cancel; redeemable – to repay; rescinds – to cancel; fundamental – basic; fradulent – cheating; tribunal – a body formed to solve disputes; redress – to solve; acquired – to obtain; conferred – to give; convenants – contents; accumulated – collected; transferee – a person on whose name the shares are transferred.