UPSC Success Logo
UPSC Success Logo

Basics of Economy

Basics of Economy
 Economy vs Economics
 Microeconomics vs Macroeconomics
 Role of economy
 Sectors of Economy-Primary, Secondary and
Tertiary Sector
 Factors of Production
Type of Economic System
 Capitalist Economy
 Socialist Economy
 Mixed Economy
 Developed vs Developing Economies
Growth and Development
 Economic Growth
 The need to measure economic growth
 Economic Growth-Pros and Cons
 Economic Development
 Difference between Economic growth and Economic
development

National Income Accounting

National Income Accounting
 Gross National Product (GNP)
 Gross Domestic Product (GDP)
 Gross National Income (GNI)
 Per Capita Income (PCI)
 Purchasing Power Parity (PPP)
 GDP Deflator
 Base year
 Green GDP
 Factor Cost
 Market Price
 Income Estimates New GDP Series 2015
 Miscellaneous

Economic Development in India

Economic Planning
 Economic Planning –Define, Aims and Objectives
 Economic Planning types
 History of Economic Planning In India
 Pre-1991-Five Year Plans
 1991 Economic Reforms
 Planning Commission Vs NITI Aayog
 Achievements of Planning
 Future Strategy

Money

Money
 Functions of Money
 Evolution of Money
 Fiat Money
 Bank Money/ Deposit Money
 Digital Payment- RTGS, NEFT, IMPS, UPI, etc.
 Debit and Credit card
 ATM and its types
 Cashless Economy
Money, Demand and Supply
 Time liabilities of Bank – fixed deposit
 Demand liabilities- Current Account, Saving Account,
Demand Draft etc.
 Narrow Money
 Broad Money
 Creation of Money
 Money Multiplier
Monetary Policy
 Significance
 Quantitative Tools: CRR, SLR, Repo rate, MSF, Bank
Rate, Open Market operation, Reverse Repo Rate
etc.
 Qualitative Tools – PSL, LTV etc.
 Monetary Policy Making
 Limitations of Monetary Policy

Banking

Reserve Bank of India
 History
 structure- Official Director and non official Directors
 Main functions
 Independence of RBI
 Important Publication like Financial stability Report, Monetary Policy
Report etc.
 Zonal Offices of RBI
Banks
 Scheduled and Non Scheduled Banks
 Public Sector Banks
 Private Sector and Foreign Banks
 Regional Rural Banks and Local Area Bank
 Small Finance Banks and Payment Banks
 Cooperative Banks
Non Banking Financial Companies(NBFC)
 What are NBFCs?
 Commercial Banks Vs NBFCs
 NBFC regulated by RBI, SEBI and other agencies
 MUDRA Yojana
 Other NBFC schemes of GoI
All India Financial Institutions (AIFI)- Non Banks
 EXIM
 NABARD
 National Housing Bank
 SIDBI
Issue of Banking Sector
 Loans and non Performing Assets
 Stressed Assets
 SARFAEST Act 2002
 Insolvency and Bankruptcy
 PARA
 Basel Norms
 Banking Sector Reforms
 Merger of Banks etc..
 Miscellaneous

Financial Market

Money Market
 Features of Money Market
 Structure – organized and Unorganized
 Instruments- Call Money, T-bill, Commercial Papers,
Certificate of Deposit, Trade bill
 Participants
 Miscellaneous
Capital Market
 Securities Market
 Primary Market – IPOs, Placements etc
 Secondary Market- Equity, Debt Market, Community
markets, Stock Exchanges etc.
 Non Securities Market- Mutual funds, Deposits,
Insurance etc
 Institutions- SEBI, FSDC, FDB, FATE, IOSCO etc.
 Miscellaneous
Corporate
 Company types based on ownership, incorporation,
no. of members etc.
 Statutory Bodies- CCI, NCLT, NFRA, SFIO etc.
 Corporate Governance
 Corporate Social Responsibility
Miscellaneous

Basics of Budget

Budget
 Meaning and Significance
 Funds related to Budget
 Annual Financial Statement, Appropriation Bill and
Finance Bill
 Stages of Passing the Budget
 Vote on Account
 Interim Budget
Components of Budget
 Revenue Part- Revenue Receipt and Revenue
Expenditure
 Capital Part- Capital Receipts and Capital
Expenditure
 Plan and Non-Plan Expenditure
 Changes Introduced in 2017
Types of Budget
 Revenue vs Capital Budget
 General vs Railway Budget
 Traditional line item Budgeting
 Performance Budgeting
 Zero Based Budgeting
 Gender Budgeting
 Outcome Budgeting
Miscellaneous

Fiscal Policy

Fiscal Policy
 Meaning
 Objectives
 Importance
 Balance Budget
 Surplus Budget
 Deficit Budget
Deficit Budgeting
 Fiscal Deficit
 Revenue Deficit
 primary Deficit
 Effective Revenue Deficit
 Budgetary Deficit
 Deficit Financing
 Reducing Fiscal Deficit
 FRBM Act
 Fiscal Consolidation
Bodies related to Budgeting
 Finance Ministry and its departments
 Finance Commission
 Planning commission vs NITI Aayog
 Miscellaneous

Taxation

Taxation –An Introduction
 Meaning and Objectives
 Adam Smitris 4 Canons of Taxation
 Progressive vs Regressive vs Proportional taxes
 Tax pattern in Developed and Developing countries.
Direct Taxes
 Merits and Demerits
 Direct Tax on Income- Corporation Tax, MAI, Income tax, CHT, DDT
etc.
 Direct tax on Assets and Transactions- STI, CTT, Wealth Tax, Estate
Duty, Stamp duty, Property tax, etc.
 Direct taxes on expenditure like gift tax etc.
 Union tax, less and surcharge.
Indirect Taxes; GST
 Indirect taxes: Merits and Demerits
 Timeline to GST
 GST: 10st Constitutional Amendment Act 2016
 GST Council Composition, Functioning
 CGST, SGST
 GST slabs on Goods and Serices
 PAN Vs GSTIN
 GST collection Trends
 E-way system
 GST Distribution between Centre and States
 GST related Organization
 GST Benefits
 Challenges
Miscellaneous
 Black Money and Allied Issues
 Tax Evasion
 Tax Avoidance – DTAA, GAAR, AAR, BEPS etc.
 Tax Terrorism
 Taxation Global Treaties and Agreements
 Chaffer Curve
 Tax Buoyancy
 Tax Elasticity
 Miscellaneous

Inflation

 Inflation – An introduction
 Demand Pull Inflation
 Cost Push Inflation
 Inflationary and Deflationary Gaps
 Inflation vs Deflation – Quick Comparison
Types of Inflation
 Based on causes- Currency Inflation, Credit Inflation,
Deficit Induced Inflation.
 Based on Speed – Creeping, Walking and Galloping
Inflation. Stagflation
 Headline Inflation vs Core Inflation
 Structural Inflation
 Miscellaneous
Measurement of Inflation
 Wholesale Price Index (WPI)
 Consumer Price Index(CPI)
 Produces Price Indexes
 Commodity Price Indexes
 Core Price Indexes
Combating Inflation
 Monetary Measures by RBI
 Fiscal Measures by GoI
Effects of Inflation
 Creditors and debtors
 Investors
 Salaried People and wage earner
 Currency
 Economic Growth
 Production etc.

Balance of Payment

BoP – Current Account
 Balance of Trade, Export- Import
 Compensation – Investment Income
 Non Factor Trade in Services
 Private Transfer Payments – Gifts, Remittances,
grants etc.
 Other – Official Transfer payments.
BoP – Capital Account
 Foreign Investment –FDI, FII etc
 External Assistance
 Commercial Borrowing
 IMF
 NRI Deposits
 Other Funds

Exchange Rate System

Exchange Rate System
 What is Exchange Rate?
 Demand Foreign Exchange and Supply Foreign
Exchange
 Exchange Rate Regimes –Fixed Exchange rate and
Floating Exchange Rate
 Managed Floating Exchange Rate
 NEER and REER
Currency
 Devaluation
 Convertibility of Rupee
 Rupee Convertibility
 Real Value of Rupee
 Forex Reserves
 Rupee Depreciation
 Rupee Appreciation
 Currency Manipulation
 Currency War
 Dollarization
 Currency Board
 Hard and Soft Currency
 Miscellaneous

International Economic Organizations

• IMF and World Bank

  • IMF and World Bank
  • Formation
  • Objectives
  • Organizational Structure
  • Functions
  • India – IMF and World Bank
  • World Bank Group five Organizations
  • Similarities between IMF and world Bank
  • Differences between WB and IMF
  • Criticism of WB and IMF
    • World Trade Organization (WTO)
  • Structure
  • Functions
  • Tariff parties
  • WTO Agreements/ Packages/ Treaties
  • Bali Package and Trade Facilitation Agreement
  • Trade Agreement Types
  • Free Trade Agreements
  • Miscellaneous
    • Development Banks
  • BRICS
  • AIIB
  • African Development Bank
  • Asian Development Bank(ADB)
  • Bank for International Settlements
  • European Bank for Reconstruction and Development (EBRD)
    • Other Groups related to Economy
  • SAARC
  • BIMSTEC
  • ASEAN
  • SCO
  • IORA
  • APEC
  • OPEC
  • OECD
  • G-20
  • OIC
  • GCC
  • World Economic Forum
  • Miscellaneous

Agriculture

• Agriculture Inputs

  • land and land Reforms
  • Seeds – Green Revolution, GM Crops
  • Irrigation
  • Fertilizer
  • Pesticides and Weedicides
  • Farm Mechanization
  • Miscellaneous
    • Agriculture Finance and Marketing
  • Features and Need of Agricultural Finance
  • Sources of Agricultural Finance
  • Co-operative Credit Societies
  • Agricultural Credit Institutions – RRB, NABARD, KCC, Self help
    group, RIDF etc.
  • Waivers for the Farmers
  • Agri Marketing- Process, Structure and Ned
  • APMC
  • ENAM
  • GRAM
  • Agro Export Policy latest Miscellaneous
    Subsidies
  • Objectives of Subsidies
  • Types – Farm Subsidies, Fertilizers, Power Subsidies, Irrigation
    subsidies etc.
  • Minimum Support Price; Define Crops covered, Procurement,
    Benefits, Limitations
  • Public Distribution System – Objectives, Functioning, Benefits,
    Limitations etc.
  • Buffer Stock
  • Food Security Bill
  • Limitations of Subsidies
  • Criticism of Subsidies
    • Miscellaneous
  • Crop Insurance
  • Food Processing
  • Issues in food processing Sector
  • Agriculture Allied Activities – Diary, Fishry etc.
  • Food Inflation
  • Miscellaneous

Industry and Manufacturing

LPG Reforms
 Liberalization
 Privatization
 Globalization
 Before LPG Reforms and After LPG
Manufacturing
 National MFG Policy 2011
 Industrial Corridors
 Make in India- Complete Analysis
 National Policy on Electronics 2019
 National Digital Communication Policy 2018
 Sick Industries
 Special Economic Zones
 Phases of Industrial Development
Miscellaneous
 Ease of doing Business Report
 Labour Reforms
 Minimum Wages
 Factories Act Reforms
 Real Estate
 Intellectual Property Rights(IPR)
 MSME
 Startups
 Textile Industry etc.

Public Sector and Service Sector

Public Sector
 PSUs – Performance and Objectives
 Eight core Industries
 Privatization of PSUs
 Disinvestment of PSUs
 Maharatnas
 Navratnas and Miniratnas
 Public Sector Classification – Departmental
Undertaking, PSUs and Financial Institution
 Issues associated with PSUs
 PSUs Reforms
Service Sector
 Service Sector Performance in India
 FDI in Service Sector
 Manufacturing vs Services
 Global Navigation
 IT Industry
 Tourism
 Miscellaneous

Infrastructure

Energy
 Electricity
 Renewable Sources
 Non-Renewable Service
 Focus on Scheme related to these
Transport
 Water – Inland Waterways, shipping & Ports etc.
 Road Transport
 Railways & Metro Rail
 Aviation
Social and Commercial Infrastructure
 Rural Infrastructure
 Urban Infrastructure
 Education
 Sports
 Industrial Parts
 Food Parks
 Cold Storage
 Agri Infrastructure
 Affordable Housing
 Miscellaneous

Inequality, Poverty and Hunger

Poverty
 Factors Responsible for Poverty in India
 Poverty measurement/ estimation
 Types of Poverty
 History of Poverty estimation in India
 Multi Dimensional Poverty Index
 Rural and Urban Poverty
 Socio Economic Caste Census and Poverty
 Poverty Eradication – Focus on Schemes
Hunger
 Hunger in India
 Causes of Hunger
 Global Hunger Index
 Malnutrition
 Hunger Eradication
Inequality
 What is Inequality
 Measuring Inequality- Gini Coefficient, World
Inequality Report etc.
 Gender Inequality Index
 Poverty and Inequality link
 Social Security
 Weaker Sections- Minorities, SC & ST, Women &
Children, PH.
 Inequality Eradication
 Globalization and Inequality
(Poverty, Hunger & Inequality –Focus mainly on International
and National Reports, GoI Schemes, Programmes related to
these)

Human Development

Unemployment, Health and Education, Sustainable Development
Unempolyment

  • Define
  • Measuring unemployment
  • Types of unemployment
  • Causes of unemployment
  • Unemployment Scenario in India
  • Unemployment in various sectors
  • Steps taken by Government
    • Health
  • Health Scenario in India
  • Maternal Health Issues
  • Child Health Care
  • Ayush Ministry
  • National Health Policy
  • National Health Mission
  • Disease Control Initiatives
  • Family Planning
  • Universal Health Coverage
  • Medical Tourism
  • GoI Initiatives
    Education
  • Education in India (Census 2011)
  • Different levels of Education in India-Issues, Challenges
    and Soultions
  • Educational Development of women
  • Planning in Education
  • Right to Education
  • Skill Development
  • Value Based Education
  • GoI Schemes and Policies.
    • Sustainable Development
  • What is Sustainable Development?
  • Human Development Report
  • Sustainable Development Goals
  • SDG India Index
  • Miscellaneous

Physics

Physics
 Laws of Motion
 Friction
 Work and Energy
 Standards and Units
 Heat
 Sound
 Optics
 Electricity and Magnetism
 Modern Physics
 Types of forces- Gravitational, Electromagnetic, Weak
Nuclear force and strong Nuclear Force

Chemistry

Chemistry
 Matter and its nature
 Chemical reactions and equations
 Structure of the Atom
 Periodic Table
 Chemical Bonding
 Carbon and its Compound
 Acids, Bases and non metals
 Thermodynamics
 Polymers and Plastics
 Biochemistry