This post is a compilation of our most viewed notes on Economics, which we think our readers should not miss.
Learn Economics: Must Read Articles
The below-mentioned notes are a must-read for aspirants preparing for various exams.
- Basic Concepts of Economics In Simple Language.
- Factors of Production
- Everything You Need To Know About India’s New GDP Series 2011-12.
- Indian Economy Overview
- Ten Steps For India To Be The Third Largest Economy by 2043.
- Monetary Policy of India
- Expansionary vs Contractionary Monetary Policy
- REPO and CRR Rate Cuts
- Rupee Devaluation, Depreciation, Export and Import.
- Unified Payment Interface (UPI)
- Money Supply
- Monetary Aggregates
- Differentiated Banks – Small Finance Banks vs Payment Banks
- Urban Cooperative Banks
- Non-Performing Assets (NPA)
- The Twin Balance Sheet Problem (TBS)
- Interest Coverage Ratio
- Yes Bank Crisis and Reconstruction
- Operation Twist
- Government Budgeting in India – The Process and Constitutional Requirements.
- Budget Documents Made Simple: Key to Budget Documents.
- FRBM Act – Guidelines, Targets, and Escape Clause
- The difference between the Full Budget and Vote on Account.
- Cut Motions: Policy Cut, Economy Cut, and Token Cut
- Tax Expenditure and Budgetary Policies.
- Fiscal Deficit and Current Account Deficit.
- What is the Economic Survey?
- Goods and Services Tax (GST): Everything You Need to Know Including Issues Unresolved
- Universal Basic Income (UBI): Everything you need to know
Indian Economy – Sectors
- Sectors of Economy: Primary, Secondary, Tertiary, Quaternary, and Quinary.
- Factors Responsible for the Location of Primary, Secondary and Tertiary Sector Industries in Various Parts of the World (Including India).
Primary (Agriculture) Sector
- National Commission on Farmers – Recommendations
- Agricultural Marketing Reforms: Model APMC Act and NAM
- Farmers’ Suicides in India – Reasons and Responses
- Food Processing and Related Industries in India.
- Pink Revolution in Food Processing Industry.
- Land reforms in India.
- National Land Records Modernization Programme (NLRMP)
- Minimum Support Price (MSP) – Explained with Video
- Public Distribution System (PDS): Challenges and Reforms
Secondary (Industrial) Sector
- Index of Industrial Production (IIP): Made Easy to Understand.
- Index of Industrial Production (IIP): All About The New IIP Series (2011-12)
- Indian Companies Act 2013: Salient Features.
- Make In India Initiative.
- Micro, Small and Medium Enterprises (MSME): The Importance in Indian Economy
Tertiary (Service) Sector
- Insolvency and Bankruptcy Code: Why do we need it now?
- National Investment and Infrastructure Fund (NIIF)
- PM Gati Shakti: Master Plan for Multi-modal Connectivity
- National Infrastructure Pipeline (NIP) – Can this mega-push revive the Indian economy?
- National Monetisation Pipeline (NMP)
- Indian Railways – What’s Wrong With The National Transporter?
- Bullet Trains – Does India really need them?
- Privatisation of Air India – Should India’s Public Sector Airline be Disinvested?
- 7 Initiatives by the Government to Promote Energy Efficiency and Energy Conservation
- Neduvasal Hydrocarbon Project Controversy: Everything you need to know
- Foreign Trade of India
- Balance of Payments
- India’s Free Trade Agreements
- Masala Bonds
- Foreign Direct Investment (FDI) in India
Planning and Federalism
- Indian Economy: Issues Related to Planning.
- Indian Economy: Mobilization of Resources.
- Indian Economy: Growth, Development, and Employment.
- Investment Models.
- 12th Five Year Plan 2012-17 Targets.
- From Planning Commission To NITI Aayog: Evolution of Indian Planning.
- NITI Aayog: The new ‘think-tank’ to replace the Planning Commission.
- How do States get revenue from the Center?
- The Shrinking Central Plan and Growing Central Assistance.
- 15th Finance Commission: Recommendations
- The Core of the Core Schemes, Core Schemes, and Major Central Sector Schemes in Union Budget 2018
- Major Programs Under Central Plan: Budget 2015-16.
- Major Programs Under Central Assistance to States Plan: Budget 2015-16.
- Centrally Sponsored Schemes (CSS).
- Rashtriya Kishor Swasthya Karyakram (RKSK) and RMNCH+A.
Financial Market – Money Market and Capital Market
- Financial Market: Money Market and Capital Market.
- Money Market Overview.
- Capital Market Overview.
- Speculation, Hedging, Arbitrage and Investment.
- SEBI (Securities and Exchange Board of India).
- Share and Stock Market: Common Questions.
- Poverty – Dimensions and Challenges Explained
- Human Capital – What India needs to reap the Demographic Dividend
- Education in India – A Detailed Analysis
- No-Detention Policy In The Schools – Should it be scrapped?
- The Problems of Medical Education in India – Should the Medical Council of India (MCI) be Scrapped?
- National Education Policy 2020: Key Highlights
- Self Help Groups (SHG) in India: Gist of Kurukshetra.
- Non-Governmental Organizations (NGOs) and Recent Issues.
Economic Survey and Latest Data
- Economic Survey 2021-22: Highlights
- Economic Survey 2019-2020 Summary: 10 Key points which you should not miss!
- 8 Interesting Facts about Indian Economy from the Economic Survey
- 10 New Facts About Indian Economy Based on Economic Survey 2017
- Indian Economy Statistics: Know India Better.
- Committees and Commissions in India.
- What is the Economic Survey?
- WTO, Trade Facilitation Agreement and Indian Stand.
- Fiscal Cliff and Fiscal Drag Explained.
- US Debt Ceiling Crisis and US Federal Government Shutdown Explained.
- Bitcoin: Understanding The Basics.
- Ease of Doing Business – ‘The Rank’ Explained
- The Black Money Saga In India: A Short Analysis
- Panama Papers: Case of Tax Evasion by the Rich?
- 10 Benefits of Goods and Service Tax (GST)
- Crowdfunding – Benefits and Concerns
- Gig Economy – What’s the problem with this new trend?
- Blue Economy
Check the Economics notes category to read the complete article archives (from the latest posts to the oldest ones).
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Books to learn Indian Economy
- Indian Economy – by Ramesh Singh (Click to buy from Amazon)
- Indian Economy – by Nitin Singhania (Click to buy from Amazon)
- Indian Economy Key Concepts – by Sankarganesh Karuppiah (Click to buy from Amazon)
Additional Reference Books
- Economic Survey.
- India Year Book.
- Indian Economy Since Independence – Uma Kapila.
- Indian Economy – Datt and Sundaram.
- Indian Economy – Sanjeev Varma.
- Indian Economy – Mishra and Puri.
- Indian Economy – Performance and Policies – Uma Kapila.
- March of Indian Economy.
How To Study Economics?
The above-mentioned order of posts follows the order ideal for easy comprehension and understanding.
We have followed a simple and lucid language throughout. Also, real-life examples are provided, which we feel help all our readers to understand concepts faster.
Tip: If you are looking for specific guidance for economics/economy for the IAS exam, refer to our post – How to Prepare Economy for Civil Services Exam?”
What should you understand by the term ‘Economy’?
Aspirants often call this section Economics. There are others who call this section as Indian Economy.
But the exact wordings from the UPSC Prelims syllabus are “Economic and Social Development, Sustainable Development, Poverty, Inclusion, Demographics, Social Sector initiatives, etc.
Questions to test the economics fundamentals are also asked, but most of the questions revolve around topics like Inflation, Monetary Policy, Fiscal Policy etc.
Our approach and advice!
As the Indian Economy section for the UPSC exam is more current affairs oriented, no one can guarantee any textbook is complete. Ideally, one should have at least one book on the Indian Economy plus the latest economic survey.
Also, the latest budget should be properly analyzed. Economic and Political Weekly (EPW) is a magazine that can be suggested as a good read.
The best way to start is by understanding basic concepts, thinking and asking questions. We hope our free online resources on economics would be a good starting point.