Subject details

Description

Trend Analysis of Economy 

The Civil Services (Main) Examination Syllabus is mentioned as: 

•  Indian Economy and issues relating to planning, mobilization of resources, growth, development and employment.

•  Inclusive growth and issues arising from it.

•  Government Budgeting.

•  Effects of liberalization on the economy, changes in industrial policy and their effects on industrial growth.

•  Infrastructure: Energy, Ports, Roads, Airports, Railways, etc.

•  Investment models.

However, the above topics are defined broadly and students sometimes fail to understand the sub-topics need to be read while preparing for the subject. 

Hence, hereby providing the list of sub-topics:

BASICS OF ECONOMY  

•  Microeconomics

•  Macroeconomics

•  Capitalist Economy  

•  Socialist Economy  

•  Mixed Economy  

•  Organized Sector  

•  Unorganized Sector  

NATIONAL INCOME ACCOUNTING  

•  Significance of calculation of National income   

•  Concept of Economic Territory  

•  Gross Domestic Product (GDP)   

•  GDP at Factor Cost  

•  Net Domestic Product (NDP)  

•  GDP Deflator

•  Gross National Product (GNP)  

•  Net National Product (NNP)  

•  Net Domestic Product   

•  National Income (NI)  

•  Per capita Income  

•  National Disposable Income   

•  Value-added method   

•  Income method

•  Expenditure method

•  Human Development Index (HDI)

•  Genuine Progress Indicator  

•  Social Progress Index  

•  Gross National Happiness   

•  Natural Resource Accounting

•  Green Accounting in India  

•  Green GDP  

PLANNING IN INDIA  

•  Introduction   

•  Indicative Planning  

•  Imperative Planning  

•  Planning in India  

•  Objectives of Planning

•  Summary of Five Year plans in India    

•  Composition of NITI Aayog  

•  Objectives of NITI Aayog  

•  Cooperative and Competitive Federalism

•  Comparison of Planning Commission with NITI Aayog  

MONETARY POLICY AND BANKING  

•  What is Money?  

•  Monetary Aggregates  

•  Banking system in India  

•  Reserve Bank of India  

•  Types of Banks in India  

•  Small Finance Banks  

•  Payment Banks  

•  Concept of Base rate and Marginal Cost of Lending Rate  

•  Financial inclusion  

•  Priority Sector Lending

•  Digital currency  

•  Digital Payment System in India  

•  Basel Norms  

•  Non-Performing Assets  

•  Banking governance reforms   

•  Basel Norms and NPA Crisis   

•  Provisions against Wilful Defaulters  

•  Monetary Policy   

•  Fiscal  Policy

•  Introduction  

•  Direct Taxes  

•  Indirect Taxes  

•  Deficit Financing   

•  Finance Commission of India  

•  Seventh Pay Commission: Insights into the developments

INFLATION  

•  What is inflation?  

•  Slight inflation is good for economy. Why?  

•  Demand-pull inflation  

•  Cost-push inflation  

•  Effects of inflation  

•  Measurement of Inflation  

•  Measures to Tackle Inflation    

•  Effects of Inflation on Various Economic Variables  

•  Measures to check Inflation   

•  Inflation Measurement in India   

•  Inflation Targeting in India   

•  Monetary policy committee  

•  Urjit Patel Committee to Strengthen the Monetary Policy Framework  

MOBILIZATION OF RESOURCES AND  GOVERNMENT BUDGETING  

•  Purpose of Resource Mobilization

•  Issues of Resource mobilization

•  Mobilization of Financial resources for Economic development

•  Mobilization of Financial resources through Government revenues

•  Government budgeting  

•  Components of Budget  

•  Budgetary process in India  

•  Cut Motions   

•  Reasons for Merger of Railway Budget with Union Budget (Observations of NITI Aayog)  

INDIAN FINANCIAL MARKET  

•  Money Market  

•  Organized Indian Money Market  

•  Unorganized Indian Money Market  

•  Reforms undertaken in Money Market  

•  Indian Capital Market  

•  Structure and components of Capital Market  

•  Primary Market in India  

•  Stock Exchange  

•  Security and Exchange Board of India (SEBI)  

•  Recent Reform initiatives introduced in the securities market   

EXCHANGE RATE, BALANCE OF PAYMENT AND  TRADE POLICY  

•  Types of Exchange Regimes  

•  Market Determination of Exchange Rate   

•  Managed Exchange Rate in India  

•  Depreciation of Indian Rupee   

•  Factors that caused Depreciation

•  Measures by the Government of India  

•  Foreign exchange reserve

•  Uses of India’s Foreign Exchange Reserves

•  Trade Policy in India   

•  Foreign Trade Policy, 2015-20   

•   FDI and FII   

•  New FDI Policy

•  FEMA Norms  

•  Trade Agreements/Pacts   

•  Free Trade Agreements and Bilateral Treaties of India  

POVERTY AND UNEMPLOYMENT 

•  Measuring Poverty   

•  Causes of Poverty in India 

•  Evolution of Measurement of Poverty in India   

•  Unemployment in India  

•  Nature of unemployment  

•  Types of Unemployment in India  

•  Causes of Unemployment in India  

•  Consequences of Unemployment in India  

•  Problems of contract labours:  

•  Government programmes for alleviation of poverty and unemployment  

•  Concept of Universal Basic Income  

INCLUSIVE GROWTH AND  SUSTAINABLE DEVELOPMENT  

•  Parameters of Development  

•  Characteristics of Sustainable Development  

•  Sustainable Development Goals: Agenda 2030 (SDGs)   

FINANCIAL  INSTITUTIONS  

•  World Bank   

•  IMF 

•  WTO 

•  ADB

•  AIIB

•  NDB

INVESTMENT MODELS  

•  EPC MODEL: Engineering, Procurement and Construction.  

•  The Hybrid Annuity Model (HAM)

•  PPP in India

INDUSTRIAL SECTOR IN INDIA  

•  Benefits of industrialization  

•  Industrial policy since independence   

•  Industrial Policy Statement - 1991 (LPG REFORMS)    

•  India’s Start-Up Atmosphere   

•  Way Ahead  

INFRASTRUCTURE  

•  Types of Infrastructure  

•  Importance of infrastructure  

•  Power  

•  Railways  

•  Rail Safety   

•  Roads  

•  Metro Rail in India   

•  Port Development  

•  Sagarmala Project  

•  Inland Waterways  

•  Airways  

•  Overall Issues in Infrastructure  

Trend Analysis of Economy

How to Prepare:

If you analyse the previous year papers, maximum questions have been asked from the inclusive growth, economic sectors trend and analysis. 

Hence for preparation of this topic, alongwith the traditional sources, student need to refer the government reports, economic survey and latest updates.

Some of such Traditional Sources are:

1.  Indian Economy by Ramesh Singh

2.  Indian Economy by Dutt and Sundaram

3.  Indian Economy Misra and Puri

The reports which are important for UPSC: 

1.  Economic Survey (Volume 1 and 2)

2.  NITI Aayog Recommendations

Alongwith the reports, student should refer to the sources such as:

•  Editorials from Newspapers 

•  Videos of government sources as Rajya Sabha TV

•  PIB, Government institutes documents, etc.

Note: In IASHELPDESK we are providing the books, reports, videos, editorials and questions at one stop so that a student may concentrate in the attainment of knowledge rather than busy accessing the different sources.