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'Kudumbashree' is a woman-oriented community-based poverty reduction programme being implemented in Kerala. In 1995, a thrift and credit society was started as a small savings bank for poor women with the objective to encourage savings. The thrift and credit society mobilised ₹1 crore as thrift savings. These societies have been acclaimed as the largest informal banks in Asia in terms of participation and savings mobilised.

Based on this passage,

a) Discuss the role of Self-Help Groups (SHGs) in meeting the credit requirements of the poor. 

b) List some of the drawbacks of such micro-credit programmes.

OR

(a) ‘Modernisation does not refer only to the use of new technology but also to changes in the social outlook.’

Analyse the above statement with reference to the core ideas that the government aimed to promote in the newly independent India. 

(b) List some economic costs of unemployment.

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1. Poor women or women who do not have any collateral, were excluded from formal institutions of credit. 

2. With Self-Help Groups, women are able to avail credit, with reasonable repayment plans. 

3. Further, SHGs also receive funds as Community Investment Support Funds, to create self-employment 

4. SHGs not only make credit accessible to poor women, but provide them with opportunities to generate their own income and make decisions. 

5. SHGs foster a sense of community since the credit is disbursed from a pool of money contributed by all. This also holds them accountable to the group. 

6. SHGs allow rural women to be financially empowered.

OR

(a) The government wanted to increase the production of goods and services through new methods with the help of technology. But they also, through its various policies, simultaneously ensured that this progress in a socialist economy should be assessed in accordance with the

1. Equality of opportunities between men and women.

2. Bridging the gap between the haves and have-nots. 

3. Availability of basic infrastructural facilities to all. 

4. Optimum utilization and distribution of resources.

(b) Following are some economic costs of unemployment:

1. low production of goods and services 

2. decreasing GDP 

3. fall in government revenue 

4. reduced demand for goods and services 

5. stalled economic growth

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