Indian Economy Notes for UPSC Complete Syllabus & PDF Download
Macroeconomics
Government budgeting and planning refers to the process by which governments allocate their financial resources and set goals for the future. This process involves the development of a budget, which outlines the government’s expected revenues and expenditures, and a plan, which outlines the government’s priorities and objectives.
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Government Budgeting And Planning
Government budgeting and planning refers to the process by which governments allocate their financial resources and set goals for the future. This process involves the development of a budget, which outlines the government’s expected revenues and expenditures, and a plan, which outlines the government’s priorities and objectives.
Banking
The banking sector is a critical component of the Indian economy, and as such, is an important topic for the Civil Services Exam (CSE) in India. The CSE is a competitive examination conducted by the Union Public Service Commission (UPSC) to select candidates for various civil service positions in the Indian government, including the Indian Administrative Service (IAS), the Indian Foreign Service (IFS), and the Indian Police Service (IPS).
Liberlisation,Privatisation and Globalisation
LIBERALISATION PRIVATISATION AND GLOBALISATION Liberalization refers to the process of removing government restrictions and regulations in various economic sectors, with the goal of increasing efficiency and competitiveness.
Inclusive Growth and Employment
Inclusive growth and employment are important topics that may be covered in the Civil Services Exam (CSE) in India. Inclusive growth refers to economic growth that is distributed fairly across different segments of society and promotes the welfare of all citizens, including disadvantaged and marginalized groups. Employment refers to the availability of paid work and the ability of individuals to secure and maintain employment.
Investment
Investment refers to the act of putting money into various vehicles such as bank deposits, stocks, real estate, gold, businesses, or industries in order to achieve a financial return.
Development Of Industries
The development of industries refers to the process of building and growing businesses in various sectors of the economy, with the goal of increasing economic growth and development. This can involve the establishment of new industries, as well as the expansion and modernization of existing ones.
Infrastructure
Infrastructure refers to the basic physical and organizational structures and facilities needed for the operation of a society or enterprise. This can include things like roads, bridges, airports, ports, water and sewage systems, communication networks, and power plants.
Economy Notes for UPSC
In the vast landscape of the UPSC Civil Services Examination, economics stands as a pivotal discipline within the General Studies Syllabus. While it is often referred to as “economics” or “Indian economy,” its true designation is “economic and social development.” This nomenclature encompasses critical aspects like sustainable development and poverty alleviation, extending beyond conventional economic studies.
Navigating the terrain of economics can be a daunting task for 2024 IAS aspirants. Balancing static and dynamic economic themes in their study materials can prove challenging.
Why UPSC Economics Notes are Invaluable?
- UPSC doesn’t test your ability to memorize facts; it evaluates your capacity to apply knowledge to real-world situations.
- The Indian economy is a crucial segment of the UPSC syllabus. Whether it’s Prelims, Mains, or the Interview, you can’t escape its significance.
- We provide you with the latest data, government policies, and their implications, ensuring you’re well-prepared for current affairs questions.
- From macroeconomics to microeconomics, fiscal policies to monetary policies, and economic surveys to budget analysis, our notes leave no stone unturned.
Economics notes are classified as follows
- Basic Concepts
- Monetary Policy
- Inflation
- Fiscal Policy
- Infrastructure
- Indian Economy-Sectors
- Primary Sector(Agriculture)
- Secondary Sector(Industrial)
- Tertiary Sector(Service)
- Foreign Trade
- Planning and Federalism
- Financial Market
- Money and Capital Market
- Development
- Budgets
- Economic Survey
- World Economy
Complete Economics Notes for UPSC 2024
Indian economy/ Economics is part of both the UPSC Prelims Syllabus and the UPSC Mains Syllabus (GS III). Also, Economics is an optional subject choice in the IAS Mains exam. This highly relevant and scoring subject often poses a challenge to IAS aspirants, as students find it hard to make notes balancing both static and dynamic economic topics.
Hence, we have provided Indian Economy notes for the aspirants. These UPSC notes are made by experienced subject matter experts specifically for the Civil Services exam. These study materials will provide you with all relevant Economics notes for both prelims and UPSC Mains.
Important topics of Economics are explained below:
1. Basic Concepts of Economics
What is Economics? | Main Objectives Of Economy |
3 Basic Economic Activities(Production,Consumption and Capital Formation) | National Income (GDP and GNP) |
2. Monetary Policy
Monetary Policy of India | Expansionary vs Contractionary Monetary Policy |
Repo and CRR rate cuts | Rupee Devaluation, Depreciation, Exports and Imports |
Unified Payment Interface(UPI) | Money Supply |
Monetary Aggregates | Differentiated Banks-Small Finance Banks vs Payments Banks |
Urban Cooperative Banks | Non-Performing Assets (NPA) |
The Twin Balance Sheet Problem (TBS) | Interest Coverage Ratio |
Yes Bank Crisis Reconstruction | Operation Twist |
3. Inflation
Definition with Example | Inflation Rates in India |
Headline vs Core Inflation | Causes of Inflation |
4. Fiscal Policy
Fiscal deficit and Current Account Deficit | FRBM Act- Guidelines, Target, and Escape Clause |
Goods and Service Tax (GST) | Universal Basic Income |
Government Budgeting In India – The Process and Constitutional Requirement | Tax Expenditure and Budgetary Policies |
Cut Motions- Policy cuts, Economy cuts, and Token cuts | Differences between Full Budget and Vote on Account |
Economic Survey | Budget Documents |
5. Infrastructure
Infrastructure Financing | Roads and Highways |
Railways | Civil Aviation |
Waterways Transport | Logistics |
Energy Infrastructure(Non-Renewable Energy) | Renewable Energy |
Digital Infrastructure | Housing |
Industrial Infrastructure | Social Infrastructure |
6. Indian Economy – Sectors
- Primary(Agriculture) Sector
National Commission on Farmers – Recommendations | Agriculture Marketing Reforms: Model APMC Act and NAM |
Farmers Suicide in India-Reasons and Responses | Food Processing and Pink Revolution in India |
Land Reforms in India | National Land Records Modernization Programme(NLRMP) |
MSP | PDS-challenges and reforms |
- Secondary (Industrial) Sector
Index of Industrial Production | Indian Companies Act – Salient Features |
Make In India Initiative | MSME-The Importance In Indian Economy |
- Tertiary (Service) Sector
Insolvency and Bankruptcy Code -Why do we need this? |
NIIF -National Investment and Infrastructure Fund |
7. Foreign Trade
Foreign Trade of India |
Balance of Payment |
India’s Free Trade Agreement |
Masala Bonds |
Foreign Direct Investment in India |
8. Planning and Federalism
Issue Related to Planning | Mobilization of Resources |
Growth, Development, and Employment | Investment Models |
How do States Get Revenue From the Centre? | From Planning Commission to NITI Aayog- Evolution of Indian Planning |
NITI Aayog – The new Think Tank to replace the Planning Commission | The Shrinking Central Plan and Growing Central Assistance |
The 15th and 16th Finance Commission |
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9. Financial Market- Money Market and Capital Market
Capital Market and Money Market Overview | Speculation, Hedging, Arbitration and Investment |
SEBI-Securities and Exchange Board of India | Share and Stock Market |
10. Developments
Poverty – Dimensions and Challenges | Education In India |
No Detention Policy in the Schools- Should it be Scrapped? | Human Capital- What India needs to reap the Demographic Dividend |
National Education Policy – key highlights | The Problems of the Medical Council in India- Should the MCI be scrapped? |
Self Help Groups (SHGs) | Non-Governmental Organisations and recent issues |
11. Budgets
Budget 2024 Highlights |
12. Economic Survey and Latest Data
What is an Economic Survey? |
Commissions and Committees in India |
Indian Economy Statistics -Know India Better |
13. World Economy
WTO, Trade Facilitation Agreement, and India stand |
Fiscal cliff and Fiscal Drag explained |
US Debt Ceiling Crisis US Federal government Shutdown explained |
Bitcoin- understanding the basics |
Ease of Doing Business-Ranks |
Conclusion
Our Economy Notes for UPSC Exams are very Crisp and Well Researched as they cover the whole syllabus from basic to standard books. Aspirants can gain a broad understanding of the Indian as well as world Economy for both Preliminary and main exams.
Related Links For UPSC GS 3:
| Agriculture | Science and Technology |
| Environment | Internal Security |
- Ethics And Human Interface
- Attitude Notes
- Aptitude For Civil Services Notes
- Emotional Intelligence Notes
- Moral Thinkers And Philosophers
- Civil Service Values Notes
- Ethical Issues In International Relations Notes
- Corporate Governance Notes
- Probity In Governance Notes
- Case Study On Above Issues Notes
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