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
Bloomberg including Indian bonds in its index- Confidence booster
Source: The post Bloomberg including Indian bonds in its index has been created, based on the article “Confidence booster: Index inclusion reflects confidence in India” published in “Business Standard” on 7th March 2024. UPSC Syllabus Topic: GS Paper 3-Indian economy-mobilisation of resources. News: The article discusses Bloomberg adding Indian government bonds to its index, which… Continue reading Bloomberg including Indian bonds in its index- Confidence booster
Household Consumption Expenditure Survey (HCES) 2022-23
Source-This post on Household Consumption Expenditure Survey (HCES) 2022-23 has been created based on the article “The dynamics of household consumption” published in “The Hindu” on 6 March 2024. UPSC Syllabus–GS Paper-3– Indian Economy and issues relating to Planning, Mobilization of Resources and growth. News-The article discusses the significance of Household Consumption Expenditure Survey for… Continue reading Household Consumption Expenditure Survey (HCES) 2022-23
India’s economic growth rate – Inflation has a starring role in 2023-24 growth
Source: The post India’s economic growth rate has been created, based on the article “Inflation has a starring role in 2023-24 growth” published in “Live mints” on 5th March 2024. UPSC Syllabus Topic: GS Paper 3-Indian economy – mobilisation of resources, growth, development. News: The article discusses India’s impressive economic growth and low inflation rate,… Continue reading India’s economic growth rate – Inflation has a starring role in 2023-24 growth
Critical Minerals – The biggest roadblock to India’s net-zero goal
Source: The post Critical Minerals has been created, based on the article “The biggest roadblock to India’s net-zero goal” published in “Indian express” on 5th March 2024. UPSC Syllabus Topic: GS Paper 3- Economy-Infrastructure: Energy Context: This article discusses the global importance of critical minerals, which are essential for technologies like renewable energy and electric… Continue reading Critical Minerals – The biggest roadblock to India’s net-zero goal
Women’s Urban Employment Guarantee Act (WUEGA)
Source– This post on Women’s Urban Employment Guarantee Act (WUEGA) has been created based on the article “A women’s urban employment guarantee act” published in “The Hindu” on 4th March 2024. UPSC Syllabus Topic– GS Paper 3- Indian Economy- Issues relating development and employment. News– There is a growing discussion regarding including women’s empowerment and… Continue reading Women’s Urban Employment Guarantee Act (WUEGA)
Why are farmers protesting? – Rethink the way we grow food
Source: The post why are farmers protesting has been created, based on the article “Rethink the way we grow food” published in “Business Standard” on 4th March 2024. UPSC Syllabus Topic: GS Paper 3-economy-Issues related to direct and indirect farm subsidies and minimum support prices; News: Why are farmers protesting? The article discusses the high… Continue reading Why are farmers protesting? – Rethink the way we grow food
The projections for oil and gas demand impact the clean energy transition- This is what’s slowing down the clean energy transition
Source: The post the projections for oil and gas demand impact the clean energy transition has been created, based on the article “This is what’s slowing down the clean energy transition” published in “Indian express” on 4th March 2024. UPSC Syllabus Topic: GS Paper 3-economy-infrastructure (Energy) News: This article discusses how major oil companies’ projections… Continue reading The projections for oil and gas demand impact the clean energy transition- This is what’s slowing down the clean energy transition
India’s growth surprise
Source-This post on India’s growth surprise has been created based on the article “DK Joshi writes India’s growth surprise” published in “The Indian Express” on 2 March 2024. UPSC Syllabus–GS Paper 3– Indian Economy and issues relating to Planning, Mobilization of Resources, Growth. News-The article discusses GDP forecast and observation of recently released household consumption… Continue reading India’s growth surprise
Growth of semiconductor industry in India
Source-This post on Growth of semiconductor industry in India has been created based on the article “Express View on semiconductors: Betting big” published in “The Indian Express” on 2 March 2023. UPSC Syllabus–GS paper 3- Changes in Industrial Policy and their Effects on Industrial Growth. News-The article mentions the steps taken by the government to… Continue reading Growth of semiconductor industry in India
Informal waste picker: Indispensable but invisible part of workforce
Source-This post on Informal waste picker: Indispensable but invisible part of workforce has been created based on the article “Understanding the world of the informal waste picker” published in “The Hindu” on 28 February 2024. UPSC Syllabus–GS Paper 3– Indian Economy and issues relating to Planning, Mobilization of Resources, Growth, Development and Employment. GS paper… Continue reading Informal waste picker: Indispensable but invisible part of workforce
Capital expenditure in India- THE PUBLIC SECTOR GAP In Centre’s CAPEX Spree
Source: The post capital expenditure in India has been created, based on the article “THE PUBLIC SECTOR GAP In Centre’s CAPEX Spree” published in “Live mints” on 29th February 2024. UPSC Syllabus Topic: GS Paper 3-Indian economy-mobilisation of resources News: The article discusses the Indian government’s increased spending on capital expenditure (building assets like roads… Continue reading Capital expenditure in India- THE PUBLIC SECTOR GAP In Centre’s CAPEX Spree
Culture in global development- Why culture was recognised as a goal for the first time under India’s G20 presidency
Source: The post on culture in global development has been created, based on the article “Why culture was recognised as a goal for the first time under India’s G20 presidency” published in “Indian express” on 28th February 2024. UPSC Syllabus Topic: GS Paper 3- Economy- growth, development and employment. News: The article discusses how India,… Continue reading Culture in global development- Why culture was recognised as a goal for the first time under India’s G20 presidency
India’s import tariffs- Express View on India’s tariff regime: Costs of a barrier
Source: The post on India’s import tariffs has been created, based on the article “Express View on India’s tariff regime: Costs of a barrier” published in “Indian express” on 28th February 2024. UPSC Syllabus Topic: GS Paper 3 – Indian Economy- Mobilisation of resources News: This article discusses India’s increasing import tariffs since 2014, which… Continue reading India’s import tariffs- Express View on India’s tariff regime: Costs of a barrier
Keynes prediction about the future economy- Keynes’ equitable society won’t be attained without intervention
Source: The post Keynes prediction about the future economy has been created, based on the article “Keynes’ equitable society won’t be attained without intervention” published in “Live mints” on 26th February 2024. UPSC Syllabus Topic: GS Paper 3- News: This article discusses John Maynard Keynes’ 1930 essay about the future economy. Keynes predicted less work… Continue reading Keynes prediction about the future economy- Keynes’ equitable society won’t be attained without intervention
Changing the Growth Paradigm in India
Source: This post has been created based on the article “Changing the growth paradigm” published in “The Hindu” on 24th February 2024. UPSC Syllabus Topic: GS Paper 3 Indian Economy – Indian Economy and issues relating to growth and development. News: The article discusses the dominant paradigm for growth in India and the issues with… Continue reading Changing the Growth Paradigm in India
Varieties of capitalism seen around the world-Capitalism varies across as well as within individual countries
Source: The post varieties of capitalism seen around the world has been created, based on the article “Capitalism varies across as well as within individual countries” published in “Live mints” on 23rd February 2024. UPSC Syllabus Topic: GS Paper 3- Economy- investment model News: This article discusses how different types of capitalism exist within countries.… Continue reading Varieties of capitalism seen around the world-Capitalism varies across as well as within individual countries
RBI research about economic growth and fiscal consolidation-Recalibrating spend
Source: The post implication of recent Supreme Court decision has been created, based on the article “Recalibrating spend: RBI paper redefines the capex-revenue debate” published in “Business standard” on 23rd February 2024. UPSC Syllabus Topic: GS Paper 3- Indian Economy and issues relating to planning, mobilisation of resources, growth, development and employment. News: The article… Continue reading RBI research about economic growth and fiscal consolidation-Recalibrating spend
New housing plan in India- Beyond shelter, dweller needs within the four walls
Source: The post new housing plan in India has been created, based on the article “Beyond shelter, dweller needs within the four walls” published in “The Hindu” on 22nd February 2024. UPSC Syllabus Topic: GS Paper 3- Economy- infrastructure News: The article discusses India’s plan to build more houses under the Pradhan Mantri Awas Yojana.… Continue reading New housing plan in India- Beyond shelter, dweller needs within the four walls
On Reforming India’s Government Procurement System
Source: This post on Reforming India’s Government Procurement System has been created based on the article “Unleashing govt’s procurement power” published in “Business Standard” on 22nd February 2024. UPSC Syllabus Topic: GS Paper 3 Indian Economy – Issues relating to growth. News: The article discusses the issues with government procurement process in India and suggests… Continue reading On Reforming India’s Government Procurement System
Status of air travel in India-Aviation casts a K-like shadow on the ground
Source: The post status of air travel in India has been created, based on the article “Aviation casts a K-like shadow on the ground” published in “Live mints” on 20th February 2024. UPSC Syllabus Topic: GS Paper 3- economy-infrastructure- Railways and Airways News: The article discusses the increase in air travel in India due to… Continue reading Status of air travel in India-Aviation casts a K-like shadow on the ground
On the Challenges in front of a FinTech Revolution in India – Stocktaking on the fintech revolution
Source: This post on the Challenges in front of a FinTech Revolution in India has been created based on the article “Stocktaking on the fintech revolution” published in “Business Standard” on 19th February 2024. UPSC Syllabus Topic: GS Paper 3 Indian Economy – Issues relating to mobilization of resources. News: The article discusses the meaning… Continue reading On the Challenges in front of a FinTech Revolution in India – Stocktaking on the fintech revolution
On the Progress in Achieving SDG Targets – More effort needed
Source: This post on the Progress in Achieving SDG Targets has been created based on the article “More effort needed – India’s track record better than APAC peers on SDGs” published in “Business Standard” on 19th February 2024. UPSC Syllabus Topic: GS Paper 3 Indian Economy – Issues relating to development. News: The article discusses… Continue reading On the Progress in Achieving SDG Targets – More effort needed
Reasons for the increase in the import of edible oil in India -Finding the right policy for edible oil
Source: The post reasons for the increase in the import of edible oil in India has been created, based on the article “Finding the right policy for edible oil” published in “Business standard” on 19th February 2024. UPSC Syllabus Topic: GS paper 3-Economy-marketing of agricultural produce and issues and related constraints. News: This article discusses… Continue reading Reasons for the increase in the import of edible oil in India -Finding the right policy for edible oil
Recommendations of Swaminathan commission
Source: The post Recommendations of Swaminathan commission has been created, based on the article “What Swaminathan panel said” published in “Indian express” on 17th February 2024. UPSC Syllabus Topic: GS paper 3-economy-Issues related to direct and indirect farm subsidies and minimum support prices; News: This article discusses the demands of protesting Punjab farmers for a… Continue reading Recommendations of Swaminathan commission
On the Challenges of post-COVID Indian Economy – Growth sans ‘big bang’ reforms
Source: This post on the Challenges of post-COVID Indian Economy has been created based on the article “Growth sans ‘big bang’ reforms” published in “Business Standard” on 15th February 2024. UPSC Syllabus Topic: GS Paper 3 Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment. News: The article discusses the… Continue reading On the Challenges of post-COVID Indian Economy – Growth sans ‘big bang’ reforms
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.
