Indian Economy Current Affairs Updates For UPSC IAS Mains 2024 Examination
On this page you will find articles that falls under subject Indian Economy for UPSC IAS Mains 2024 examination
Role of Citizen Stack
Source: The post role of Citizen Stack has been created, based on the article “What we mean by good digital public infrastructure” published in “Indian Express” on 9th August 2024 UPSC Syllabus Topic: GS Paper 3- Economy (financial inclusion) and GS paper 2-Governance- e-governance Context: The article discusses India’s success in achieving financial inclusion through… Continue reading Role of Citizen Stack
World Bank’s growth forecast for India
Source: The post World Bank’s growth forecast for India has been created, based on the article “Trading up: World Bank’s growth prognosis for India moots some policy shifts” published in “The Hindu” on 5th August 2024 UPSC Syllabus Topic: GS paper 3 – Indian Economy -growth, development and employment Context: The article discusses India’s revised… Continue reading World Bank’s growth forecast for India
Indian businesses are held back by an irrational fear of worker strikes
Source: The post Indian businesses are held back by an irrational fear of worker strikes has been created, based on the article “Do It The French Way” published in “ The Times of India” on 31st August 2024 UPSC Syllabus Topic: GS Paper 3- Economy Context: The article argues that India’s private sector is hindered… Continue reading Indian businesses are held back by an irrational fear of worker strikes
Mismatch between India’s GDP growth and employment growth
Source: The post mismatch between India’s GDP growth and employment growth has been created, based on the article “How to deal with the country’s growth-employment paradox” published in “Live Mint” on 30th August 2024 UPSC Syllabus Topic: GS Paper 3 – Indian Economy – Employment Context: The article discusses India’s economic growth and the mismatch… Continue reading Mismatch between India’s GDP growth and employment growth
“Right to Disconnect” law Introduced in Australia
Source: The post Australia has introduced the “Right to Disconnect” law has been created, based on the article “The right to log off from work: Is it a good idea?” published in “Live Mint” on 30th August 2024 UPSC Syllabus Topic: GS Paper 3- Economy-employment And GS paper 2- Governance-Government policies and interventions for development… Continue reading “Right to Disconnect” law Introduced in Australia
Need to raise India’s tax-to-GDP ratio
Source: The post there is a need to raise India’s tax-to-GDP ratio has been created, based on the article “Tax reform dilemmas” published in “Business Standard” on 30th August 2024 UPSC Syllabus Topic: GS Paper 3- Economy- mobilization of resources Context: The article discusses the need to raise India’s tax-to-GDP ratio for economic growth. It… Continue reading Need to raise India’s tax-to-GDP ratio
Women-Led Development and Budget Allocations
Source-This post on Women-Led Development and Budget Allocations has been created based on the article “Analysing the Gender Budget of 2024-25″ published in “The Hindu” on 30 August 2024. UPSC Syllabus-GS Paper 3- Government Budgeting. Context– This year’s Budget emphasizes women-led development with increased funding for women-focused programs. The Gender Budget Statement (GBS) for 2024-25… Continue reading Women-Led Development and Budget Allocations
India’s Inflation Targeting Framework
Source-This post on India’s Inflation Targeting Framework has been created based on the article “Inflation targeting: Defending the status quo” published in “Business Standard” on 29 August 2024. UPSC Syllabus–GS Paper-3– Indian Economy and issues relating to Planning, Mobilization of Resources, Growth, Development and Employment. Context– In September 2016, India set a 4% inflation target… Continue reading India’s Inflation Targeting Framework
PMLA’s Draconian Provisions
Source-This post on PMLA’s Draconian Provisions has been created based on the article “Bail for K Kavitha: Time to review PMLA’s draconian provisions” published in “The Indian Express” on 29 August 2024. UPSC Syllabus-GS Paper-3- Money-Laundering and its prevention. Context– Recent Supreme Court rulings emphasize that “bail is the rule, and jail is the exception”… Continue reading PMLA’s Draconian Provisions
Increase women’s participation in the workforce by addressing their caregiving responsibilities
Source: The post increase women’s participation in the workforce by addressing their caregiving responsibilities has been created, based on the article “India needs to develop a care ecosystem” published in “The Hindu” on 28th August 2024 UPSC Syllabus Topic: GS Paper 3- Economy-employment Context: The article discusses the need to increase women’s participation in the… Continue reading Increase women’s participation in the workforce by addressing their caregiving responsibilities
Unified Lending Interface (ULI) Initiative
Source-This post on Unified Lending Interface (ULI) Initiative has been created based on the article “Ease of lending – New platform will improve access to credit” published in “Business Standard” on 28 August 2024. UPSC Syllabus-GS Paper-3- Indian Economy and issues relating to Planning, Mobilization of Resources, Growth, Development and Employment. Context– Following a successful… Continue reading Unified Lending Interface (ULI) Initiative
Financial Inclusion and the Pradhan Mantri Jan Dhan Yojana (PMJDY)
Source-This post on Financial Inclusion and the Pradhan Mantri Jan Dhan Yojana (PMJDY) has been created based on the article “PM Jan Dhan Yojana has accelerated financial inclusion, reduced inequalities” published in “The Indian Express” on 28 August 2024. UPSC Syllabus-GS Paper-3- Indian Economy and issues relating to Planning, Mobilization of Resources, Growth, Development and… Continue reading Financial Inclusion and the Pradhan Mantri Jan Dhan Yojana (PMJDY)
India Inc.’s Bright Outlook
Source-This post on India Inc.’s Bright Outlook has been created based on the article “India Inc is in a sweet spot but risks are looming too” published in “Live Mint” on 27 August 2024. UPSC Syllabus-GS Paper-3- Indian Economy and issues relating to Planning, Mobilization of Resources, Growth, Development and Employment. Context– India’s corporate sector… Continue reading India Inc.’s Bright Outlook
The Multifaceted Challenge of Energy Transition
Source-This post on The Multifaceted Challenge of Energy Transition has been created based on the article “A one-way street to net-zero will put us in a jam of our own making” published in “Live Mint” on 27 August 2024. UPSC Syllabus-GS Paper-3- Infrastructure: Energy, Ports, Roads, Airports, Railways etc. Context – The article notes that… Continue reading The Multifaceted Challenge of Energy Transition
The RBI’s Currency Management
Source-This post on The RBI’s Currency Management has been created based on the article “Why RBI’s attempts to control the Rupee can have adverse consequences” published in “The Indian Express” on 24 August 2024. UPSC Syllabus-GS Paper-3- Indian Economy and issues relating to Planning, Mobilization of Resources, Growth, Development and Employment. Context– The Indian rupee… Continue reading The RBI’s Currency Management
Benefits and Challenges of E-commerce Growth in India
Source: The post benefits and challenges of e-commerce growth in India has been created, based on the article “Express View on ‘predatory pricing’: Market facts and spectres” published in “Indian Express” on 23rd August 2024. UPSC Syllabus Topic – GS Paper 3 – Indian Economy – industries and industrial policies Context: The article discusses concerns… Continue reading Benefits and Challenges of E-commerce Growth in India
Reassessing Inflation Measurement
Source: The post reassessing inflation measurement has been created, based on the article “India’s inflation aim: Let us go by its reality and not the perception” published in “Live Mints” on 22nd August 2024 UPSC Syllabus Topic: GS Paper 3-Indian Economy-Inflation Context: The article discusses the debate on whether India’s inflation targeting should focus on… Continue reading Reassessing Inflation Measurement
Deposit Insurance and Banking Stability
Source-This post on Deposit Insurance and Banking Stability has been created based on the article “Zero bank failure is the best deposit insurance” published in “LiveMint” on 22 August 2024. UPSC Syllabus-GS Paper-3- Indian Economy and issues relating to Planning, Mobilization of Resources, Growth, Development and Employment Context- The article highlights the decreasing popularity of… Continue reading Deposit Insurance and Banking Stability
Need for sustainable mass employment in India
Source: The post need for sustainable mass employment in India has been created, based on the article “A ground plan for sustainable mass employment” published in “The Hindu” on 21st August 2024 UPSC Syllabus Topic: GS Paper 3- Economy-employment Context: The article discusses the need for sustainable mass employment in India. It emphasizes creating jobs… Continue reading Need for sustainable mass employment in India
A change in India’s power export rules
Source: This post is based on the article “A change in India’s power export rules”, published in “The Hindu” on 20th August 2024. UPSC Syllabus: GS paper 3 – Indian Economy – Infrastructure and Energy Context: India’s power export rules have been amended. It will resolve the challenges faced by Indian power exporters supplying electricity to… Continue reading A change in India’s power export rules
Evolution of India’s economic policies and their impact
Source: The post evolution of India’s economic policies and their impact has been created, based on the article “Revamping corporate governance” published in “Business standard” on 20th August 2024 UPSC Syllabus Topic: GS Paper3- Indian Economy and issues relating to planning, mobilisation of resources, growth, development Context: The article discusses the evolution of India’s economic… Continue reading Evolution of India’s economic policies and their impact
Benefits of Bamboo cultivation for India
Source: This post ‘Benefits of Bamboo cultivation for India’, is based on the article Bamboo as food, fuel, and timber, published in Business Standard on 19th August 2024. UPSC Syllabus topic: GS Paper 3 – Indian Economy – Crops and cropping patterns in India Context: Bamboo, often referred to as the “poor man’s timber,” has… Continue reading Benefits of Bamboo cultivation for India
India’s progress and challenges in agriculture and economic reforms compared to China
Source: The Post India’s progress and challenges in agriculture and economic reforms compared to China has been created, based on the article “Ashok Gulati writes: The path to Viksit Bharat runs through fields” published in “Indian Express” on 19th August 2024 UPSC Syllabus Topic: GS Paper 3- Economy-growth, and development Context: The article discusses India’s… Continue reading India’s progress and challenges in agriculture and economic reforms compared to China
Impact of Excluding Food Prices from the Inflation Target
Source: The post Impact of Excluding Food Prices from the Inflation Target has been created, based on the article “The essence of India’s inflation problem” published in “The Hindu” on 17th August 2024 UPSC Syllabus Topic: GS Paper3- Economy- inflation Context: The article argues against removing food prices from India’s inflation target, emphasizing that food… Continue reading Impact of Excluding Food Prices from the Inflation Target
Challenges faced by Regional Rural Banks (RRBs)
Source: The post challenges faced by Regional Rural Banks (RRBs) has been created, based on the article “DIGITAL DEFICIT – Regional rural banks are losing ground to commercial banks amid tech challenges. Should they merge with their parents?” published in “Business Standard” on 16th August 2024 UPSC Syllabus Topic: GS Paper 3- Economy-mobilisation of resources… Continue reading Challenges faced by Regional Rural Banks (RRBs)
How to read Indian Economy for UPSC
In UPSC IAS preparation, one subject which most of the students find very difficult to start with and understand is Indian Economy. They mostly struggle with the approach, textbooks to follow and how to read Indian Economy related news in the newspaper.
Indian Economy consists of both static as well current affairs. In this subject, textbook will build your basic understanding and help you to solve around 3-5 % of the total questions asked in the UPSC Prelims exam. Students need to refer multiple sources to better understand Indian Economy and fetch good marks in both UPSC Prelims and Mains. Every year around 10-15% questions are asked in UPSC Prelims exam from static portion, current affairs (schemes) and India Year Book. It has even increased up to 30 % in 2018 and 2019 UPSC Prelims exam. So, in any case students cannot avoid this subject as it is as important as History, Polity and Geography.
In this article, we will discuss in detail about the study approach of Indian Economy. This article would be very helpful for those who are scared of this subject and always try to run away from this. Once you will understand the basic concepts of Indian Economy, you will start enjoying this subject and eventually you will have a good command over this subject.
Before starting any subject in UPSC IAS preparation, it is advisable for all the students to see the past year trend of both UPSC Prelims and Mains questions. Indian Economy is part of both UPSC IAS Prelims Syllabus and UPSC Mains Syllabus. Hence, it becomes very important for the students to study this subject with right approach and have a good understanding over the topics asked in the exam.
In the following table, we will see the total number of questions asked in the UPSC Prelims exam in last 6 years from Indian Economy:
prelims 2021 – 14
2022 – 18
2023 – 12
| Year | Total number of questions asked |
| 2020
| 14
|
| 2019
| 28
|
| 2018
| 29
|
| 2017
| 14
|
| 2016
| 15
|
| 2015
| 21
|
Overview of the UPSC IAS syllabus for Indian Economy:
| Phase | Syllabus |
| UPSC Prelims- General Studies (Paper I)
| Economic and Social Development – Sustainable Development, Poverty, Inclusion, Demographics, Social Sector initiatives, etc.
|
| UPSC Mains- General Studies (Paper III)
| Economic Development
|
Study approach of Indian Economy subject for UPSC IAS:
- Read the syllabus: Students need to go through the syllabus of Indian Economy for both UPSC Prelims and Mains. It will give them a detailed guideline about what they have to read and what they have to leave. Print the syllabus and stick that in that in your study table.
- Start with the basic NCERT textbooks: To understand the basic concepts. One should start the preparation of Indian Economy with NCERT textbooks. One simply read the book, highlight the important point and revise them. Notes making is not much important here. Following are the NCERT textbooks which one need to read:
- Class IX NCERT textbook ‘Economics’
- Class X NCERT textbook ‘Understanding Economic Development’.
- class XI NCERT textbook ‘Indian Economic Development’.
- Class XII NCERT textbook ‘Introductory Microeconomics’.
- class XII NCERT textbook ‘Introductory Macroeconomics’ (Most important).
- Take a step forward with advance book: To cover each topic thoroughly and understand everything in detail, students need to refer one advance book for Indian Polity. ‘Indian Economy’ by Ramesh Singh is simple and good book to understand the topics. Here also, one should not run behind taking notes of each topic. Highlighting the things and multiple revision would be helpful for students.
- Current Affairs: Indian Economy is totally linked with current affairs. Topics like SLR, RR, GDP are current based. One must refer monthly current affairs magazine to cover current based issues. One thing is very important to note that, no current affairs magazine can substitute the Newspapers. To cover Indian Economy related news, “Economic Times or Business Standards” would be recommendable.
- Refer other miscellaneous materials: After reading Economic Survey and Budget, your preparation will be complete. Economy Survey and Budget will give you basic idea about How our country is developing. What is growth, what is the expenditure and revenue? This will help you in both UPSC Prelims and Mains. One can also refer Economic and Political Weekly (EPW) magazine. This is completely optional and will only be helpful when you have completed and revised the other things.
- Focus more on Government Schemes and some important topics of Indian Economy: UPSC every year ask lots of questions on Government Schemes related to Indian Economy. Students must cover every schemes thoroughly and they can also make short notes on them and revise them. Some important topics of Indian Economy on which students need to focus more are:
- National income accounting, GDP, GNP, inflation, balance of payment, fiscal policy, monetary policy, RBI, PSL, NBFC.
- Finance commission – terms of references, themes.
- International organizations – World Bank, IMF, WTO, UNCTAD, WEF and their reports. Bodies like G-15, G-7, G-33, etc.
- Basic economic terms, demographic dividend, inclusive growth.
- Taking help of online sources: Students should utilize the benefits of integration of technology in education. Topics which they find difficult to understand, can easily get command over those topics with the help of You tube, online classes etc. On these platforms, they can read and revise the topics multiple times.
- Refer Previous year UPSC Prelims and Mains questions: Analyzing the past year papers will help students to have a clear understanding of which types of questions are asked by UPSC. On these lines, students should give the second reading to the advance book and NCERTs.
- Practice mock tests: After completing the syllabus once, students need to give mock tests. Firstly, they can solve MCQs topic wise. After that, weekly they can solve MCQs based on complete syllabus of Indian Economy. It will help them to reduce their fear and also build their logic on solving MCQS.
- Answer writing practice: After completing the whole syllabus once, students must start answer writing practice on Previous Years Question of UPSC Mains. They should also practice daily/weekly answer writing based on their capacity.
- Revision is the key: Revision is the key to Success. Students need to revise each and every topic multiple times. Revision will boost their preparation and help to make a blueprint of everything in the back of the mind. It will reduce the time taken in the final exam (Prelims and Mains) to solve the questions.
Indian Economy is an interesting and concept-based subject. One cannot understand the subject if will try to simply mug up the things like in History they do. Understanding the things and solving MCQs with logic will help them a lot.
