Economics for UPSC
Economics for UPSC
Basic Concepts of Economics
- Microeconomics vs. Macroeconomics
- Demand, Supply & Market Equilibrium
- Elasticity of Demand and Supply
- National Income Accounting (GDP, GNP, NNP, etc.)
- Methods of Measuring National Income
- Inflation – Types, Causes, Effects, and Control Measures
- Unemployment – Types, Causes, and Impact
- Poverty & Measurement (Tendulkar, Rangarajan, Multidimensional Poverty Index)
- Economic Growth vs. Development
Indian Economy
- Evolution of Indian Economy (Pre & Post Independence)
- Five-Year Plans – Objectives & Achievements
- NITI Aayog – Functions & Role
- Economic Reforms Since 1991 (Liberalization, Privatization, Globalization – LPG)
- Industrial Policies (1948, 1956, 1991)
- Public Sector, Disinvestment, and Privatization
Money, Banking & Financial System
- Role of Money – Functions & Types
- Monetary Policy – Objectives & Instruments
- Reserve Bank of India (RBI) – Functions, Monetary Policy Tools
- Banking System in India – Types of Banks, Role of Commercial Banks
- Non-Banking Financial Companies (NBFCs)
- Financial Inclusion – Jan Dhan Yojana, Microfinance, SHGs
- Digital Payments & UPI
- Cryptocurrency & Central Bank Digital Currency (CBDC)
Public Finance & Budgeting
- Government Budget – Components (Revenue, Capital, Fiscal Deficit, etc.)
- Taxation – Direct & Indirect Taxes, GST
- Fiscal Policy – Objectives & Instruments
- FRBM Act & Fiscal Consolidation
- Subsidies & Economic Impact
- Public Debt & Borrowing
External Sector & International Trade
- Balance of Payments (BoP) – Components & Trends
- Exchange Rate System – Fixed, Floating, Managed
- Foreign Exchange Reserves & Forex Market
- Trade Policy – Free Trade vs. Protectionism
- WTO & India’s Position
- International Financial Institutions – IMF, World Bank, AIIB, NDB, etc.
- FDI vs. FPI, Foreign Direct Investment (FDI) Trends in India
Agriculture & Food Security
- Agriculture’s Role in Indian Economy
- Green Revolution & Its Impact
- Agricultural Pricing & Minimum Support Price (MSP)
- Agricultural Marketing – APMC, e-NAM
- Food Security – PDS, Buffer Stock, Food Security Act
- Land Reforms & Issues in Land Acquisition
- Farm Subsidies & Direct Income Support Schemes
- Agri-Infrastructure & Rural Development
Industry & Infrastructure
- Industrial Growth – Trends & Issues
- MSMEs – Challenges & Support Measures
- Make in India, Startup India, Production-Linked Incentive (PLI) Scheme
- SEZs & Industrial Corridors
- Transport Infrastructure – Roads, Railways, Ports, Airports
- Energy Sector – Thermal, Hydro, Nuclear, Renewable Energy
Services Sector & Economic Growth
- Role of Service Sector in India’s GDP
- IT, Telecom, Tourism, and Healthcare Industries
- Banking & Insurance Sector Growth
- Impact of AI & Digital Economy on Services Sector
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