Indian Economy Current Affairs Updates For UPSC IAS Mains 2025 Examination
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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

Current structure of India’s labor force

Source : The article on Current structure of India’s labor force has been based on article “How to make self-employment count” published in Indian Express on 11th December 2024. UPSC Syllabus topic: GS Paper 3- Indian economy Context: The article critically examines the challenges and potential of self-employment in India. Current Structure of India’s Labor… Continue reading Current structure of India’s labor force

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Food and Energy Security

Source: The post Food and Energy Security has been created, based on the article “In energy-dependent world, the issue of food security” published in “The Hindu” on 10th December 2024 UPSC Syllabus Topic: GS Paper3- Economy-growth, development and employment Context: The article examines the critical link between food and energy security in an energy-dependent world. Food… Continue reading Food and Energy Security

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Improving Skills and Jobs with Gamified Simulation-Based Learning

Source: The post Improving Skills and Jobs with Gamified Simulation-Based Learning has been created, based on the article “Gamify India’s skilling initiatives” published in “The Hindu” on 9th December 2024 UPSC Syllabus Topic: GS Paper 3- Economy-growth, development and employment. Context: The article discusses India’s unemployment problem and the need for better skilling programs. It… Continue reading Improving Skills and Jobs with Gamified Simulation-Based Learning

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Warren Buffet’s Philosophy on Wealth Redistribution

Source: The post Warren Buffet’s Philosophy on Wealth Redistribution has been created, based on the article “The place of charity in an unequal society” published in “The Hindu” on 9th December 2024 UPSC Syllabus Topic: GS Paper3- Economy-Inclusive growth and issues arising from it. Context: The article discusses Warren Buffet’s philanthropy and his belief in… Continue reading Warren Buffet’s Philosophy on Wealth Redistribution

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RBI’s monetary policy decisions aim to balance inflation control and economic growth

Source: The post India’s Manufacturing Growth and Challenges it Faced has been created, based on the article “Staying the course: The RBI has done well to stay focused on inflation amid rate cut clamour” published in “The Hindu” and the article “MPC FOCUSES ON STABLE INFLATION, LIQUIDITY BOOST” published in “Live mint” on 7th December… Continue reading RBI’s monetary policy decisions aim to balance inflation control and economic growth

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India’s Manufacturing Growth and Challenges it Faced

Source: The post India’s Manufacturing Growth and Challenges it Faced has been created, based on the article “Building on the revival of the manufacturing sector” published in “The Hindu” on 7th December 2024 UPSC Syllabus Topic: GS Paper3- Economy-growth, development and employment and changes in industrial policy and their effects on industrial growth. Context: The… Continue reading India’s Manufacturing Growth and Challenges it Faced

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Growth Challenges for Viksit Bharat

Source: The post Growth Challenges for Viksit Bharat has been created, based on the article “When dreams of Viksit Bharat stumble over Nehruvian impulses” published in “Indian express” on 6th December 2024 UPSC Syllabus Topic: GS Paper3-Indian Economy and issues relating to planning, mobilisation, of resources, growth, development and employment. Context:  India’s aspiration to transform… Continue reading Growth Challenges for Viksit Bharat

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Windfall Gains Tax on Oil Production and Fuel Exports Removed

Source: The post Windfall Gains Tax on Oil Production and Fuel Exports Removed has been created, based on the article “Windfall gains tax on oil production, diesel-petrol export removed: The impact, explained” published in “Indian Express” on 5th December 2024 UPSC Syllabus Topic: GS Paper 3 – Indian Economy and issues relating to planning, mobilisation,… Continue reading Windfall Gains Tax on Oil Production and Fuel Exports Removed

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Analyzing India’s Economic Slowdown and Policy Responses

Source: The post Analyzing India’s Economic Slowdown and Policy Responses has been created, based on the article “Bring on the rate cut” published in “Indian Express” on 4th December 2024 UPSC Syllabus Topic: GS Paper3- Economy-growth, development and employment. Context: The article discusses India’s economic slowdown and policy responses. It highlights factors like high interest… Continue reading Analyzing India’s Economic Slowdown and Policy Responses

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India’s Economic Slowdown and Path to Recovery

Source: The post India’s Economic Slowdown and Path to Recovery has been created, based on the article “A push for growth” Published in “Indian Express” on 2nd December 2024 UPSC Syllabus Topic: GS Paper 3- Economy-Growth Context: The article discusses India’s slowing GDP growth, driven by weak industrial performance, reduced investments, and muted consumption. It… Continue reading India’s Economic Slowdown and Path to Recovery

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Sharp slowdown in India’s economic growth

Source: The post sharp slowdown in India’s economic growth has been created, based on the article “Express view: RBI’s dilemma— with low growth, narrowing choices” published in “Indian Express” and the article “Deregulation, reforms key to spur growth: CEA Nageswaran” published in “Live mint” on 30th November 2024 UPSC Syllabus Topic: GS Paper3- Economy-Growth Context:… Continue reading Sharp slowdown in India’s economic growth

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India’s Growth: Strengths, Challenges, and Prospects

Source: The post India’s Growth: Strengths, Challenges, and Prospects has been created, based on the article “Revival on the cards for Indian economy” published in “Indian Express” on 27th November 2024 UPSC Syllabus Topic: GS Paper3-Indian Economy and issues relating to planning, mobilisation, of resources, growth, development and employment. Context: The article discusses India’s economic… Continue reading India’s Growth: Strengths, Challenges, and Prospects

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Financial challenges in urban infrastructure development

Source: The post financial challenges in urban infrastructure development has been created, based on the article “India’s urban infrastructure financing, needs and reality” published in “The Hindu” on 25th November 2024 UPSC Syllabus Topic: GS Paper3- infrastructure Context: The article discusses India’s urban growth challenges, highlighting the need for ₹70 lakh crore by 2036 for… Continue reading Financial challenges in urban infrastructure development

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India’s Rs 1,000 crore venture capital fund for the space sector

Source: The post India’s Rs 1,000 crore venture capital fund for the space sector has been created, based on the article “Space, India’s final frontier and through the government, a gateway to the stars” published in “Indian Express” on 19th November 2024 UPSC Syllabus Topic: GS paper3- Economy and Science and Technology- developments and their… Continue reading India’s Rs 1,000 crore venture capital fund for the space sector

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RBI’s likely decision to keep interest rates unchanged

Source: The post RBI’s likely decision to keep interest rates unchanged has been created, based on the article “For RBI, a choice: Vegetable prices, growth or currency” published in “Indian Express” on 19th November 2024 UPSC Syllabus Topic: GS paper3-Economy- inflation Context: The article discusses the RBI’s likely decision to keep interest rates unchanged due… Continue reading RBI’s likely decision to keep interest rates unchanged

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Need to value care work in India

Source: The post need to value care work in India has been created, based on the article “The consumer economy cannot afford to disregard the care economy of unpaid labour” published in “Indian Express” on 11th November 2024 UPSC Syllabus Topic: GS Paper 3- Economy-growth, development and employment. Context: The article emphasizes the need to… Continue reading Need to value care work in India

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Issue with Women Gig Workers in India

Source: The post Issue with Women Gig Workers in India has been created, based on the article “Calling out exploitative labour dynamics on platforms” published in “The Hindu” on 11th November 2024. UPSC Syllabus Topic: GS Paper3- Economy-Employment Context: The article highlights women gig workers’ exploitation in India, focusing on their “Black Diwali” digital strike… Continue reading Issue with Women Gig Workers in India

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Changed in the RBI’s Currency Policy

Source: The post Changed in the RBI’s Currency Policy has been created, based on the article “Unshackling the Indian Rupee” published in “Indian Express” on 9th November 2024 UPSC Syllabus Topic: GS Paper3- Indian Economy Context: The article discusses the Reserve Bank of India’s recent decision to actively intervene in the foreign exchange market, which… Continue reading Changed in the RBI’s Currency Policy

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India’s Stock Growth vs. China’s Wage Rise: A Comparative Analysis

Source: The post India’s Stock Growth vs. China’s Wage Rise: A Comparative Analysis has been created, based on the article “India could not create mass prosperity. It’s not too late” published in “Indian Express” on 4th November 2024 UPSC Syllabus Topic: GS Paper 3 – Economy-growth, and development Context: The article discusses why China grew… Continue reading India’s Stock Growth vs. China’s Wage Rise: A Comparative Analysis

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India’s concerns related to low levels of investment

Source: The post India’s concerns related to low levels of investment has been created, based on the article “Pratap Bhanu Mehta writes: India’s economic credibility challenge” published in “Indian Express” on 30th October 2024 UPSC Syllabus Topic: GS paper3- Economy-mobilisation of resources, growth, and development. Context: The article critiques India’s economic situation, noting that despite… Continue reading India’s concerns related to low levels of investment

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EAC-PM Report about state-wise economic performance

Source: The post EAC-PM report reveal about state-wise economic performance has been created, based on the article “A picture of a growing economic divide in India” published in “The Hindu” on 30th October 2024 UPSC Syllabus Topic: GS paper3 -Economic- growth, development and employment; Inclusive growth and issues arising from it. Context: The article discusses… Continue reading EAC-PM Report about state-wise economic performance

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How solar energy decentralizes power generation

Source: The post how solar energy decentralizes power generation has been created, based on the article “Solar, a game changer in women’s empowerment” published in “The Hindu” on 29th October 2024 UPSC Syllabus Topic: GS Paper 3- infrastructure and GS1-Society-Role of women Context: This article discusses how solar energy decentralizes power generation, benefiting communities, especially… Continue reading How solar energy decentralizes power generation

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High vegetable inflation makes it hard for the RBI to lower interest rates

Source: The post high vegetable inflation makes it hard for the RBI to lower interest rates has been created, based on the article “TOP crops, price volatility and RBI” published in “Indian Express” on 28th October 2024 UPSC Syllabus Topic: GS Paper 3-Indian Economy-Inflation Context: The article explains that high vegetable inflation, especially from tomatoes,… Continue reading High vegetable inflation makes it hard for the RBI to lower interest rates

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Desire for Upward Mobility Declining

Source: The post desire for upward mobility declining has been created, based on the article “Harish Damodaran writes: Why aspiration is dead in India” published in “Indian Express” on 26th October 2024 UPSC Syllabus Topic: GS paper3- Economy-growth, development and employment. Context: The article discusses how people’s desire for social and economic advancement is fading… Continue reading Desire for Upward Mobility Declining

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Criticisms of Nobel laureates AJR’s views

Source: The post criticisms of Nobel laureates AJR’s views has been created, based on the article “A Nobel in hand, but where AJR’s model falls short” published in “The Hindu” on 26th October 2024 UPSC Syllabus Topic: GS paper3- Growth and Development Context: The article discusses the 2024 Nobel Prize winners, Daron Acemoğlu, Simon Johnson,… Continue reading Criticisms of Nobel laureates AJR’s views

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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

YearTotal 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:

PhaseSyllabus
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.

 

 

 

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