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
Challenges India Faces in Building Its Military
Source: The post Challenges India Faces in Building Its Military Industry has been created, based on the article “Make in India, Make for Defending India” published in “Times of India” on 27th January 2024. UPSC Syllabus Topic: GS Paper 3 – Indian Economy – changes in industrial policy and their effects on industrial growth. Challenges… Continue reading Challenges India Faces in Building Its Military
On GST Dispute Settlement – How to make GST less taxing
Source: This post on GST Dispute Settlement has been created based on the article “How to make GST less taxing” published in “Indian Express” on 25th January 2024. UPSC Syllabus Topic: GS Paper 3 Indian Economy – Indian Economy and issues relating to mobilization of resources. News: The article discusses the various issues arising regarding… Continue reading On GST Dispute Settlement – How to make GST less taxing
On the Semiconductor Design-Linked Incentive (DLI) scheme
Source: This post on the Semiconductor Design-Linked Incentive (DLI) scheme has been created based on the article “The need to overhaul a semiconductor scheme” published in “The Hindu” on 24th January 2024. UPSC Syllabus Topic: GS Paper 3 Indian Economy – Changes in industrial policy and their effects on industrial growth. News: The article discusses… Continue reading On the Semiconductor Design-Linked Incentive (DLI) scheme
On India’s toy industry- The truth about India’s booming toy exports
Source: The post India’s toy industry has been created, based on the article “The truth about India’s booming toy exports” published in “The Hindu” on 24th January 2024. UPSC Syllabus Topic: GS paper 3- Indian economy- changes in industrial policy and their effects on industrial growth. News: The article discusses how India’s toy industry became… Continue reading On India’s toy industry- The truth about India’s booming toy exports
Fired up and plugged in – India balancing economic growth with climate action
Source: The post India balancing economic growth with climate action has been created, based on the article “Fired up and plugged in” published in “The Hindu” on 23rd January 2024. UPSC Syllabus Topic: GS Paper 3- Indian economy- growth and development, infrastructure, Fired up and plugged in – India balancing economic growth with climate action,… Continue reading Fired up and plugged in – India balancing economic growth with climate action
Tax Contribution by States Needs to be Revisited – Issue of Tax Distribution Among State
Source: The post issue regarding Tax Contribution has been created, based on the article “Tax contribution by States needs to be revisited” published in “The Hindu” on 23rd January 2024. UPSC Syllabus Topic: GS Paper 3 – Indian Economy – mobilization of resources Tax Contribution by States Needs to be Revisited, The article discusses how… Continue reading Tax Contribution by States Needs to be Revisited – Issue of Tax Distribution Among State
Increased Capital Expenditure by Indian states in 2024- States are spending
Source: The post Increased capital expenditure by Indian states has been created, based on the article “States are spending. The economy is waiting” published in “Indian express” on 20th January 2024. UPSC Syllabus Topic: GS Paper 3 – Indian Economy and issues relating to planning, mobilisation of resources, growth and development. Increased Capital Expenditure by… Continue reading Increased Capital Expenditure by Indian states in 2024- States are spending
Improving Competitiveness in Electronic Sector
Source: The post on improving competitiveness has been created based on the article ‘’ Improving competitiveness: The electronics sector would benefit from global integration’ published in ‘’ Business Standard’’ on 18th January 2024. UPSC Syllabus Topic: GS Paper 3 – Indian economy-changes in industrial policy News: The article discusses issues associated with the electronic sector and the… Continue reading Improving Competitiveness in Electronic Sector
On the Atal Setu and Indian Economy – Bridge to prosperity
Source: This post on the Atal Setu and Indian Economy has been created based on the article “Bridge to prosperity” published in “Indian Express” on 15th January 2024. UPSC Syllabus Topic: GS Paper 3 Indian Economy – Growth and Infrastructure. News: The article discusses the significance of the recently inaugurated Atal Setu and the positive… Continue reading On the Atal Setu and Indian Economy – Bridge to prosperity
Economic divide among India’s States – The geography of unequal growth
Source: The post economic divide in India’s States has been created, based on the article “The geography of unequal growth” published in “Business standard” on 15th January 2024. UPSC Syllabus Topic: GS paper3 -Economic- growth, development and employment; Inclusive growth and issues arising from it. News: The article discusses the growing economic gap between India’s… Continue reading Economic divide among India’s States – The geography of unequal growth
RBI’s new regulatory framework relies on significant self-policing
Source: The post RBI’s New Approach to Regulation has been created, based on the article “RBI’s new regulatory framework relies on significant self-policing” published in “Live mints” on 15th January 2024. UPSC Syllabus Topic: GS paper3- Economy – mobilisation of resources, growth, development and employment. News: The article discusses how the Reserve Bank of India… Continue reading RBI’s new regulatory framework relies on significant self-policing
Issue with Swachh Survekshan Awards
Source: The post Issue with Swachh Survekshan Awards has been created, based on the article “Numbers game: Factors affecting general improvement in sanitation must be overcome” published in “The Hindu” on 13th January 2024. UPSC Syllabus Topic: GS paper3- Economy- infrastructure News: The article discusses the Swachh Survekshan Awards in India, where cities are ranked… Continue reading Issue with Swachh Survekshan Awards
Telecommunications Act of 2023- Open up the playing field
Source: The post Telecommunications Act of 2023 has been created, based on the article “Open up the playing field” published in “Indian express” on 12th January 2024. UPSC Syllabus Topic: GS paper3- economy- infrastructure News: The article discusses the Telecommunication Act 2023 in India, which replaces older laws and aims to modernize and improve the… Continue reading Telecommunications Act of 2023- Open up the playing field
Develop Lakshadweep but protect its ecology
Source: The post developing Lakshadweep has been created, based on the article “Develop Lakshadweep but protect its ecology” published in “Live mints” on 12th January 2024. UPSC Syllabus Topic: GS paper3- economy- infrastructure; and GS paper2-International relation. News: The article discusses the development of Lakshadweep into a high-end, eco-friendly tourist destination. This plan aims to… Continue reading Develop Lakshadweep but protect its ecology
Issues associated with inverted import duties in India – Our import duty regime needs urgent correction
Source: The post India’s plan to fix inverted import duties, has been created, based on the article “Our import duty regime needs urgent correction” published in “Live mint” on 11th January 2024. UPSC Syllabus Topic: GS paper 3 – Indian economy – Mobilization of Resources News: The article discusses India’s plan to fix inverted import… Continue reading Issues associated with inverted import duties in India – Our import duty regime needs urgent correction
On Regulations on Flight Duty Time Limitations (FDTL) – The right flight path
Source: This post on New Flight Regulations has been created based on the article “The right flight path – DGCA aligns Indian rules with global norms” published in “Indian Express” on 10th January 2024. UPSC Syllabus Topic: GS Paper 3 Indian Economy – Infrastructure: Airports. News: The article discusses the recent changes in DGCA’s new… Continue reading On Regulations on Flight Duty Time Limitations (FDTL) – The right flight path
On India’s K-Shaped Recovery – SBI report: K-shaped questions
Source: This post on India’s K-Shaped Recovery has been created based on the article “SBI report: K-shaped questions” published in “Indian Express” on 10th January 2024. UPSC Syllabus Topic: GS Paper 3 Indian Economy – Issues relating to Growth. News: The article discusses the recent report by SBI on India’s K-shaped recovery. It highlights the… Continue reading On India’s K-Shaped Recovery – SBI report: K-shaped questions
Gap between India’s cereal production and consumption – India’s great grain mystery
Source: The post gap between India’s cereal production and consumption has been created, based on the article “Jean Drèze and Christian Oldiges write: India’s great grain mystery” published in “Indian express” on 9th January 2024. UPSC Syllabus Topic: GS paper 3- Indian economy- issues of buffer stocks and food security News: The article discusses the… Continue reading Gap between India’s cereal production and consumption – India’s great grain mystery
On the Trends in Male and Female LFPR – Does India need to worry about a decline in its male workforce?
Source: This post on Trends in Male and Female LFPR has been created based on the article “Does India need to worry about a decline in its male workforce?” published in “Live Mint” on 9th January 2024. UPSC Syllabus Topic: GS Paper 3 Indian Economy – Issues relating to employment. News: The article discusses gender-based… Continue reading On the Trends in Male and Female LFPR – Does India need to worry about a decline in its male workforce?
Reduction of import duties on EVs – Import concessions:
Source: The post reduction of import duties on EVs has been created, based on the article “Import concessions: Trade agreements should focus on overall gains” published in “Business standard” on 5th January 2024. UPSC Syllabus Topic: GS paper 3 – Indian economy- changes in industrial policy and their effects on industrial growth. News: The article… Continue reading Reduction of import duties on EVs – Import concessions:
On Upskilling Rural Youth
Source: This post on Upskilling Rural Youth has been created based on the article “Why is upskilling necessary for the rural youth?” published in “The Hindu” on 4th January 2024. UPSC Syllabus Topic: GS Paper 3 Indian Economy – Issues related to Employment. GS Paper 2 Social Justice – Issues relating to Human Resources. News:… Continue reading On Upskilling Rural Youth
On the Necessity of Economic Growth in Poor States
Source: This post on the Necessity of Economic Growth in Poor States has been created based on the article “India’s Future Hinges on the Gangetic Plain” published in “Business Standard” on 4th January 2024. UPSC Syllabus Topic: GS Paper 3 Indian Economy – Issues related to Growth and Development. News: The article discusses the status… Continue reading On the Necessity of Economic Growth in Poor States
Indian Development Model – India’s way forward: Services or manufacturing?
Source: The post on Indian development model has been created, based on the article “India’s way forward: Services or manufacturing?” published in Indian Express on 4th January 2024. UPSC Syllabus Topic: GS Paper 3 – Indian Economy – Growth, Development and Employment News: The article questions India’s economic direction, particularly the wisdom of prioritizing services… Continue reading Indian Development Model – India’s way forward: Services or manufacturing?
Shift in India’s Trade Policy – Reverse India’s trend of trace barriers going up
Source: The post India’s Trade Policy Shifting has been created, based on the article “Reverse India’s trend of trace barriers going up” published in “Live mints” 3rd January 2024. UPSC Syllabus Topic: GS paper3 – Indian Economy – Effects of liberalization on the economy News: The article discusses the global decline of free trade, and… Continue reading Shift in India’s Trade Policy – Reverse India’s trend of trace barriers going up
On ISRO’s XPoSat Mission – Meet ISRO’s new X-ray eye in the sky
Source: This post on ISRO’s XPoSat Mission has been created based on the article “Meet ISRO’s new X-ray eye in the sky” published in “Indian Express” on 2nd January 2024. UPSC Syllabus Topic: GS Paper 3 Science & Technology – Awareness in the fields of Space. News: The article discusses the details of the recently… Continue reading On ISRO’s XPoSat Mission – Meet ISRO’s new X-ray eye in the sky
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.
