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
Beekeeping in India: The increasing profitability of apiculture
Source: The post Beekeeping in India has been created, based on the article “The increasing profitability of apiculture” published in “Business standard” on 15th April 2024. UPSC Syllabus Topic: GS Paper 3-economy-agriculture News: This article discusses the growth and potential of India’s beekeeping industry, highlighting its significance in agriculture and exports. The increasing profitability of… Continue reading Beekeeping in India: The increasing profitability of apiculture
Recent SC judgement on Jim Corbett National Park
Source: The post recent SC judgement on Jim Corbett National Park has been created, based on the article “Decoding the judgment on Jim Corbett” published in “The Hindu” on 15th April 2024. UPSC Syllabus Topic: GS Paper 3 – Ecology, and environment- conservation News: The Supreme Court of India recently ruled against the illegal cutting… Continue reading Recent SC judgement on Jim Corbett National Park
Reforming GST
Source-This post on Reforming GST has been created based on the article “Reforming GST: It should be a priority after the elections” published in “The Business Standards” on 15 April 2024. UPSC Syllabus-GS Paper-3- Indian Economy and issues relating to Planning, Mobilization of Resources, Growth, Development and Employment. Context– One major reform in the last… Continue reading Reforming GST
Improving Agri food space in India
Source-This post on Improving Agri food space in India has been created based on the article “New government must fix India’s food systems” published in “The Indian Express” on 15 April 2024. UPSC Syllabus–GS Paper-3– Issues related to Direct and Indirect Farm Subsidies and Minimum Support Prices; Public Distribution System – Objectives, Functioning, Limitations, Revamping;… Continue reading Improving Agri food space in India
Concerns related to India’s interest rates: Last-mile transmission a big hurdle to policy rate cut
Source: The post concerns related to India’s interest rates has been created, based on the article “Last-mile transmission a big hurdle to policy rate cut” published in “Live mints” on 13th April 2024. UPSC Syllabus Topic: GS Paper 3- Indian economy – mobilisation of resources News: The article discusses why India’s central bank, the RBI,… Continue reading Concerns related to India’s interest rates: Last-mile transmission a big hurdle to policy rate cut
Solutions for job creation: India’s missing jobs
Source: The post solutions for job creation has been created, based on the article “India’s missing jobs — and where the next government can find them” published in “Indian express” on 13th April 2024. UPSC Syllabus Topic: GS Paper 3 – Indian Economy – Issues related to Growth and employment News: The article discusses India’s… Continue reading Solutions for job creation: India’s missing jobs
Significance of making rules simple to boost export
Source-This post on Significance of making rules simple to boost export has been created based on the article “Policymakers must simplify trade rules to boost exports” published in “The Hindu” on 13 April 2024. UPSC Syllabus-GS Paper-3- Indian Economy and issues relating to Planning, Mobilization of Resources, Growth, Development and Employment. Context– The Asian Development… Continue reading Significance of making rules simple to boost export
Unemployment situation in India: THE SKILL HANDICAP
Source: The post unemployment situation in India has been created, based on the article “THE SKILL HANDICAP: It is not really a case of jobless growth, just that job creation is more for the low-skilled” published in “Business standard” on 12th April 2024. UPSC Syllabus Topic: GS Paper 3- Economy- Employment News: The article discusses… Continue reading Unemployment situation in India: THE SKILL HANDICAP
Concerns related to savings in India: Borrowing to consume
Source: The post concerns related to savings in India has been created, based on the article “Borrowing to consume” published in “Business standard” on 12th April 2024. UPSC Syllabus Topic: GS Paper 3 – Indian economy – Mobilisation of resource Context: The article discusses how India saves a lot of money, but most is not… Continue reading Concerns related to savings in India: Borrowing to consume
Implications of accelerating disinvestment: Reviving disinvestment
Source: The post implications of accelerating disinvestment has been created, based on the article “Reviving disinvestment: This must be a top priority for the next govt” published in “Business standard” on 12th April 2024. UPSC Syllabus Topic: GS Paper 3- Indian economy – mobilization of resources News: The article discusses the Indian government’s commitment to… Continue reading Implications of accelerating disinvestment: Reviving disinvestment
Decoding State Budgets
Source-This post on Decoding State Budgets has been created based on the article “Decoding state budgets: Can growth projections keep pace with reality?” published in “The Indian Express” on 12 April 2024. UPSC Syllabus- GS Paper 3 – Government Budgeting Context – In India, the central government’s finances are closely examined whereas state governments’ fiscal… Continue reading Decoding State Budgets
Globalisation of Indian rupee
Source-This post on Convertibility of Indian rupee has been created based on the article “Can the rupee go global without convertibility?” published in “Live Mint” on 10 April 2024. UPSC Syllabus-GS Paper-3- Indian Economy and issues relating to Planning, Mobilization of Resources, Growth, Development and Employment. Context– Prime Minister has recently asked the Reserve Bank… Continue reading Globalisation of Indian rupee
India’s labor market and employment situation: Has the growth of our economy translated into domestic jobs?
Source: The post India’s labor market and employment situation has been created, based on the article “Has the growth of our economy translated into domestic jobs?” published in “Live mints” on 9th April 2024. UPSC Syllabus Topic: GS Paper 3-economy-employment News: The article discusses how India’s job market is recovering, especially in non-farm sectors. It… Continue reading India’s labor market and employment situation: Has the growth of our economy translated into domestic jobs?
Importance of Per Capita GDP: Express View on PM’s ‘guarantee’ for Indian economy
Source: The post Per Capita GDP important has been created, based on the article “Express View on PM’s ‘guarantee’ for Indian economy: Goal worth setting” published in “Indian express” on 8th April 2024. UPSC Syllabus Topic: GS Paper 3-Economy-growth and development News: The article discusses India’s economic growth under present government. It moved from the… Continue reading Importance of Per Capita GDP: Express View on PM’s ‘guarantee’ for Indian economy
Green Hydrogen: Why green hydrogen presents both major opportunities, significant challenges
Source: The post Green Hydrogen has been created, based on the article “Why green hydrogen presents both major opportunities, significant challenges” published in “Indian Express” on 6th April 2024. UPSC Syllabus Topic: GS Paper 3-economy- infrastructure- renewable energy News: The article discusses India’s efforts to use green hydrogen, a cleaner fuel, for transportation. It talks… Continue reading Green Hydrogen: Why green hydrogen presents both major opportunities, significant challenges
Unusual taxes around the world: The weird tax club has a new entry from Toronto
Source: The post unusual taxes around the world has been created, based on the article “The weird tax club has a new entry from Toronto” published in “Live mints” on 5th April 2024. UPSC Syllabus Topic: GS Paper 3- economy News: The article discusses unusual taxes around the world. It mentions Toronto’s proposed ‘stormwater charge’,… Continue reading Unusual taxes around the world: The weird tax club has a new entry from Toronto
Challenges faced by local solar panel manufacturers: Solar manufacturing challenge
Source: The post challenges faced by local solar panel manufacturers has been created, based on the article “Solar manufacturing challenge” published in “Business standard” on 5th April 2024. UPSC Syllabus Topic: GS Paper 3- economy- infrastructure – Energy News: This article discusses how subsidies and import restrictions aimed at boosting local solar panel manufacturing may… Continue reading Challenges faced by local solar panel manufacturers: Solar manufacturing challenge
Finding of the India Employment Report (IER) 2024: Turning the spotlight on the urban poor
Source: The post finding of the India Employment Report (IER) 2024 has been created, based on the article “Turning the spotlight on the urban poor” published in “The Hindu” on 4th April 2024. UPSC Syllabus Topic: GS Paper 3- Economy- Employment News: The India Employment Report (IER) 2024 raises concerns about whether the working class… Continue reading Finding of the India Employment Report (IER) 2024: Turning the spotlight on the urban poor
India should target per capita, not aggregate GDP: Path to Viksit Bharat
Source: The post India should target per capita, not aggregate, GDP has been created, based on the article “Path to Viksit Bharat” published in “Indian express” on 4th April 2024. UPSC Syllabus Topic: GS Paper 3-Indian economy- growth and development News: The article compares the economic growth of China and India from 1990 to 2022.… Continue reading India should target per capita, not aggregate GDP: Path to Viksit Bharat
Development of India’s defense ecosystem: India’s atmanirbhar defense sector
Source: The post development of India’s defense ecosystem has been created, based on the article “India’s atmanirbhar defense sector” published in “Indian express” on 3rd April 2024. UPSC Syllabus Topic: GS Paper 3 – Indian Economy – Changes in industrial policy and their effects on industrial growth. News: This article discusses India’s efforts to strengthen… Continue reading Development of India’s defense ecosystem: India’s atmanirbhar defense sector
How has the RBI evolved: Next phase for RBI: Central bank should be empowered further
Source: The post on how the RBI evolved has been created, based on the article “Next phase for RBI: Central bank should be empowered further” published in “Business standard” on 2nd April 2024. UPSC Syllabus Topic: GS Paper 3 – Indian economy – mobilization of resources (banking) and GS Paper 2 – governance – Statutory,… Continue reading How has the RBI evolved: Next phase for RBI: Central bank should be empowered further
Solar surge
Source-This post on Solar surge has been created based on the article “India’s solar industry must grow without compromising on quality” published in “The Hindu” on 1 April 2024. UPSC Syllabus – GS Paper 3 – Effects of Liberalization on the Economy, Changes in Industrial Policy and their Effects on Industrial Growth Context – The… Continue reading Solar surge
Major concerns in global economics: Firms in a tough global environment
Source: This post major concerns in global economics has been created, based on the article “Firms in a tough global environment” published in “Business standard” on 1st April 2024. UPSC Syllabus Topic: GS Paper 3- Economy-Effects of liberalization on the economy News: Global economic integration previously spurred growth, but now, trends towards de-integration are impacting… Continue reading Major concerns in global economics: Firms in a tough global environment
Climate change impacting wheat production in India: POINTERS FROM WHEAT
Source: The post climate change impacting wheat production in India has been created, based on the article “POINTERS FROM WHEAT: Green Revolution 2.0’s focus must be on input use efficiency and building climate resilience” published in “Indian express” on 1st April 2024. UPSC Syllabus Topic: GS Paper3- Indian economy-issues of buffer stocks and food security;… Continue reading Climate change impacting wheat production in India: POINTERS FROM WHEAT
Challenges for Indian agriculture to realize its aspiration of a Viksit Bharat by 2047: Viksit must be inclusive
Source: The post challenges for Indian agriculture to realize its aspiration of a Viksit Bharat by 2047 has been created, based on the article “Viksit must be inclusive” published in “Indian express” on 1st April 2024. UPSC Syllabus Topic: GS Paper3- Indian economy- growth and development News: The article discusses the challenges and necessary strategies… Continue reading Challenges for Indian agriculture to realize its aspiration of a Viksit Bharat by 2047: Viksit must be inclusive
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.
