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
India’s economic challenges in 2025
Source: The post India’s economic challenges in 2025 has been created, based on the article “India 2025: Navigating an uncertain world” published in “Business Standard” on 2nd January 2025 UPSC Syllabus Topic: GS Paper3- Economy- growth and development Context: The article discusses India’s economic challenges in 2025, including slowing growth and the need for more… Continue reading India’s economic challenges in 2025
Economic challenges and necessary reforms in India, China, and the US
Source: The post economic challenges and necessary reforms in India, China, and the US has been created, based on the article “Abandon myopic policies for the common global good” published in “Live mint” on 2nd January 2025 UPSC Syllabus Topic: GS Paper3- Economy- growth and development and Effects of Liberalization on the Economy, Changes in… Continue reading Economic challenges and necessary reforms in India, China, and the US
Rising Gas Costs Impact City Gas Sector
Source: The post Rising Gas Costs Impact City Gas Sector has been created, based on the article “Gas price rise and Trump’s expected policies” published in “Indian Express” on 2nd January 2025 UPSC Syllabus Topic: GS Paper3-Infrastructures-Energy Context: The article discusses challenges in the city gas distribution sector, primarily due to reduced allocations of cheaper,… Continue reading Rising Gas Costs Impact City Gas Sector
Indian banking sector’s improvements and challenges
Source: The post Indian banking sector’s improvements and challenges has been created, based on the article “Express View on Indian banking system: In good health” published in “Indian Express” on 2nd January 2025 UPSC Syllabus Topic: GS Paper 3- Indian Economy and issues relating to planning, mobilisation of resources. Context: The article discusses the Indian… Continue reading Indian banking sector’s improvements and challenges
UPI Duopoly’s Rise and Market Vulnerabilities
Source: This post on UPI Duopoly’s Rise and Market Vulnerabilities has been created based on article UPI duopoly’s rise and market vulnerabilities published in The Hindu on 31st December 2024. UPSC Syllabus Topic: GS 3-Indian Economy Context: This article delves into India’s obligations and policies concerning Rohingya refugees, a marginalized and stateless population facing severe… Continue reading UPI Duopoly’s Rise and Market Vulnerabilities
Developing countries should prioritize the service sectors
Source: The post Developing countries should prioritize the service sectors has been created, based on the article “Services offer a clear and speedy path to economic development” published in “Live mint” on 31st December 2024 UPSC Syllabus Topic: GS Paper3- Economy- growth and development Context: The article argues that developing countries should focus more on… Continue reading Developing countries should prioritize the service sectors
How Banks Can Adapt to New Savings Trends
Source: The post How Banks Can Adapt to New Savings Trends has been created, based on the article “The recent deposit shortfall is a wake-up call for banks in India” published in “Live mint” on 31st December 2024 UPSC Syllabus Topic: GS Paper3- Economy- growth and development Context: The article discusses how banks have experienced… Continue reading How Banks Can Adapt to New Savings Trends
Assessing Food Security and Nutrition Challenges in India
Source: The post Assessing Food Security and Nutrition Challenges in India has been created, based on the article “What meal data reveals about hunger” published in “Business Standard” on 31st December 2024 UPSC Syllabus Topic: GS Paper3-food security Context: The article discusses food security in India, noting that while most Indians meet their basic meal… Continue reading Assessing Food Security and Nutrition Challenges in India
India’s Economic Slowdown and Its Future Outlook
Source: The post India’s Economic Slowdown and Its Future Outlook has been created, based on the article “2025: The new normal” published in “Business Standard” on 30th December 2024 UPSC Syllabus Topic: GS Paper3- Economy-Indian Economy and issues relating to planning, mobilisation, of resources, growth, development and employment. Context: The article discusses India’s current economic… Continue reading India’s Economic Slowdown and Its Future Outlook
How India Can Overcome the Middle-Income Trap
Source: The post How India Can Overcome the Middle-Income Trap has been created, based on the article “Dodging a middle-income trap may take extra-economic efforts” published in “Live mint” on 30th December 2024 UPSC Syllabus Topic: GS Paper 3- Economy-Indian Economy and issues relating to planning, mobilisation, of resources, growth, development and employment. Context: The… Continue reading How India Can Overcome the Middle-Income Trap
India’s Energy Shift Toward Renewable Energy Sources
Source: The post India’s Energy Shift Toward Renewable Energy Sources has been created, based on the article “The shift fuelling country’s growth engine” published in “Business Standard” on 28th December 2024 UPSC Syllabus Topic: GS Paper3- Infrastructures Context: The article discusses India’s energy evolution, focusing on the shift from coal to renewable energy (RE). It… Continue reading India’s Energy Shift Toward Renewable Energy Sources
India’s Key Sources of Dollar Earnings
Source: The post rise of India’s Key Sources of Dollar Earnings has been created, based on the article “We need more sectors to become reliable dollar earners” published in “Live mint” on 24th December 2024 UPSC Syllabus Topic: GS Paper3 – Indian Economy and issues relating to Planning, Mobilization of Resources, Growth, Development and Employment… Continue reading India’s Key Sources of Dollar Earnings
Rise of cash transfer schemes by Indian states
Source: The post rise of cash transfer schemes by Indian states has been created, based on the article “Cash transfers must not lead states to fiscal ruin” published in “Live mint” on 24th December 2024 UPSC Syllabus Topic: GS Paper3 – Indian Economy and issues relating to Planning, Mobilization of Resources, Growth, Development and Employment.… Continue reading Rise of cash transfer schemes by Indian states
GST Council delays reforms and rate rationalization
Source: The post GST Council delays reforms and rate rationalization has been created, based on the article “Express view on PM’s Kuwait visit: Delhi must deliver on West Asia promise” published in “Indian Express” on 24th December 2024 UPSC Syllabus Topic: GS Paper3-Indian Economy- resource mobilization (taxation) Context: The article discusses GST Council’s delay in… Continue reading GST Council delays reforms and rate rationalization
India’s Role in the Global Job Market
Source: This article on India’s Role in the Global Job Market is based on “Envisioning India as a global skill supplier” which is published on The Hindu on 24th December 2024. UPSC Syllabus topic: GS 3- Indian Economy and issues relating to Planning, Mobilization of Resources, Growth, Development and Employment Context: The article examines the… Continue reading India’s Role in the Global Job Market
Supreme Court Rules Coconut Oil as Edible Oil
Source: The post Supreme Court Rules Coconut Oil as Edible Oil has been created, based on the article “Is coconut oil an edible oil or a haircare product? Here is what Supreme Court ruled” published in “Indian Express” on 20th December 2024 UPSC Syllabus Topic: GS Paper3-Economy-taxation Context: The article discusses how the Supreme Court… Continue reading Supreme Court Rules Coconut Oil as Edible Oil
Strengthening the Roots of an Agri-Carbon Market
Source: This post on Strengthening the Roots of an Agri-Carbon Market has been created based on “Strengthening the roots of an agri-carbon market” published in The Hindu on19th December 2024. UPSC Syllabus Topics: GS 3- Indian Economy and issues relating to Planning, Mobilization of Resources, Growth, Development and Employment Context: The article explores the transformative… Continue reading Strengthening the Roots of an Agri-Carbon Market
Making Affordable Generics More Reliable
Source: This post on Making Affordable Generics More Reliable is based on article “ Making affordable generics more reliable” published in The Hindu on 19th December 2024. UPSC Syllabus topic: GS 3- Indian Economy and issues relating to Planning, Mobilization of Resources, Growth, Development and Employment Context: The article delves into the critical role of… Continue reading Making Affordable Generics More Reliable
India’s Shift to a Services-Led Economy and Its Challenges
Source: The post India’s Shift to a Services-Led Economy and Its Challenges has been created, based on the article “Services led exports are a mixed blessing for us” published in “Live mint” on 19th December 2024 UPSC Syllabus Topic: GS Paper3- Indian Economy- changes in industrial policy and their effects on industrial growth. Context: The… Continue reading India’s Shift to a Services-Led Economy and Its Challenges
Global Events Impacting India’s Economic Outlook in 2025
Source: The post Global Events Impacting India’s Economic Outlook in 2025 has been created, based on the article “In 2025, the hurdles to India’s growth” published in “Indian Express” on 19th December 2024 UPSC Syllabus Topic: GS Paper3- Economy Context: The article discusses India’s economic outlook in 2025, highlighting challenges like slow growth, fiscal deficit,… Continue reading Global Events Impacting India’s Economic Outlook in 2025
India’s Demographic Advantage and Challenges
Source: This article on India’s Demographic Advantage and Challenges is based on article “ India’s asset-less, ageing population with poor health is a crisis in the making” published in The Indian Express on 17th December 2024. UPSC Syllabus Topic: GS 3- Indian Economy and issues relating to Planning, Mobilization of Resources, Growth, Development and Employment … Continue reading India’s Demographic Advantage and Challenges
Sluggish Salaries and Economic Slowdown in India
Source: The article on Sluggish Salaries and Economic Slowdown in India is based on article “What sluggish salaries and slowdown in Indian economy might mean” published in India Express on 13th December 2024. UPSC Syllabus topic: GS Paper 3- Indian Economy Context: The article addresses the challenges faced by the Indian economy, emphasizing sluggish salary… Continue reading Sluggish Salaries and Economic Slowdown in India
Why Government Interventions in Monetary Policy Won’t Spur Growth
Source: The post the Why Government Interventions in Monetary Policy Won’t Spur Growth has been created, based on the article “Pressuring the RBI to lower the interest rate isn’t going to solve the problem” published in “Indian Express” on 12th December 2024. UPSC Syllabus Topic: GS 3 Syllabus – Indian Economy and issues relating to Planning,… Continue reading Why Government Interventions in Monetary Policy Won’t Spur Growth
Nehru’s Economic Vision and Its Impact on India
Source: The post the Nehru’s Economic Vision and Its Impact on India has been created, based on the article “How Nehru’s vision hobbled India’s economy” published in “Indian Express” on 12th December 2024. UPSC Syllabus Topic: GS Paper 3- Indian Economy Context: The article critically analyzes the economic policies of India under Jawaharlal Nehru. It argues… Continue reading Nehru’s Economic Vision and Its Impact on India
Global Share of Solar Energy
Source: This article on Global share of solar energy is based on article “What is the extent of the global share of solar energy?” published in The Hindu on 11th December 2024. UPSC syllabus topic: GS 3 -Economy Context: The article provides an overview of the current state, advancements, and impact of solar energy worldwide,… Continue reading Global Share of Solar Energy
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.