UPSC Prelims: Economics Topics
1. Basic Economic Concepts
GDP, GNP, NNP, National Income
Inflation, Deflation, Stagflation
Monetary Policy: Repo Rate, Reverse Repo Rate, CRR, SLR
Fiscal Policy: Budget, Deficits (Revenue, Fiscal, Primary)
Demand and Supply, Elasticity
2. Economic Growth and Development
Indicators of Growth (HDI, MPI, GDP growth rates)
Sustainable Development Goals (SDGs)
Poverty, Unemployment, Inequality
Demographic Dividend
Inclusive Growth
3. Indian Economy
Five Year Plans, NITI Aayog, Planning Commission
Economic Reforms (1991 LPG Reforms)
Sectors of Indian Economy (Agriculture, Industry, Services)
MSMEs and their role
Informal Sector and Unorganized Sector
4. Public Finance
Taxation: Direct, Indirect, GST
Government Schemes and Programs (e.g., MNREGA, PM-KISAN)
Subsidies and their impact
Budget: Revenue, Capital Expenditure
Public Debt, External Borrowing
5. Money and Banking
Functions of Money, Money Supply (M1, M2, M3, M4)
RBI and its functions
Commercial Banks, NBFCs, Cooperative Banks
Financial Inclusion (e.g., Jan Dhan Yojana)
Digital Payments and Cashless Economy
6. External Sector
Balance of Payments (BoP)
Foreign Exchange Management Act (FEMA)
Current Account, Capital Account, Convertibility
Exchange Rate: Fixed, Floating, Managed Float
Trade Policies, Export-Import Policy
International Organizations (IMF, WTO, World Bank)
7. International Trade
Trade Agreements (Bilateral, Multilateral)
Tariffs, Non-tariff Barriers
Trade Wars, Protectionism
Globalization and its impact
8. Agriculture
Green Revolution, Land Reforms
Agricultural Pricing and Marketing (MSP, APMC)
Agri-Insurance and Finance (PMFBY, KCC)
Food Security, PDS
Sustainable Agriculture, Organic Farming
9. Industry and Infrastructure
Industrial Policies
MSME Development
Infrastructure: Transport, Energy, Communication
Public-Private Partnerships (PPP)
Manufacturing Sector, Make in India
10. Government Schemes and Policies
Social Sector Schemes (Health, Education, Housing)
Welfare Programs for Vulnerable Sections
Financial Inclusion Schemes
Skill Development Programs
11. Environment and Economics
Environmental Economics
Climate Change Financing
Carbon Trading, Carbon Tax
Sustainable Development
12. Miscellaneous
Latest Economic Surveys
Important Committees and Recommendations
New and Emerging Economic Issues (Cryptocurrency, Gig Economy, etc.)
UPSC Mains: Economics Topics
1. Economic Development
Economic Growth vs. Development
Development Strategies in India
Poverty, Unemployment, Inequality
Social Sector Initiatives (Health, Education, Gender)
HDI, Gini Index
2. Economic Reforms Since 1991
Liberalization, Privatization, Globalization
Sectoral Reforms (Agriculture, Industry, Services)
Banking Sector Reforms (Narasimham Committee)
Tax Reforms (GST, Direct Tax Code)
3. Government Budgeting
Budget Process in India
Types of Budget: Performance, Zero-Based
Taxation: Direct and Indirect Taxes, GST, Tax Administration
Subsidies, Fiscal Responsibility and Budget Management (FRBM) Act
Budget Terminologies (Revenue Deficit, Fiscal Deficit, Primary Deficit)
4. Inclusive Growth and Issues
Financial Inclusion, Microfinance, SHGs
Poverty Alleviation Programs
Social Security Schemes
Role of Women, Gender Empowerment
5. Agriculture and Allied Sectors
Land Reforms, Agricultural Pricing Policies
Irrigation and Water Resources
Agricultural Subsidies, Farm Distress
Food Security, Nutrition, PDS
Agricultural Credit, Cooperative Farming
6. Industrial Policy and Growth
Industrial Policy in India
MSME Sector Development
Industrial Corridors, SEZs
Public Sector Enterprises, Privatization
Labour Reforms
7. Infrastructure and Investment Models
Infrastructure: Energy, Transport, Communication
PPP Models, BOT, BOOT
Smart Cities, Urbanization
Rural Infrastructure Development
8. Resource Mobilization
Capital Market, Stock Market
FDI, FII, FPI
Disinvestment Policy
Banking Sector Reforms
9. Indian Economy and Issues
Black Money, Money Laundering
Inflation, Employment and Unemployment
Inequality, Demographic Dividend
Human Capital Development
Social and Economic Inequalities
10. Land Reforms
Land Ceiling, Land Acquisition, Land Titling
Land Distribution, Tenancy Reforms
Impact of Land Reforms on Agriculture
11. Disaster Management and Economic Impact
Economic Impact of Disasters
Risk Financing, Insurance Schemes
12. Globalization and International Relations
WTO and Trade Policies
Regional Trade Agreements (RCEP, TPP, etc.)
India's Economic Relations with Neighbours
India's Role in Global Economy
13. Environment and Sustainable Development
Climate Change and Economics
Carbon Trading, Green Finance
Sustainable Development Goals
Environmental Policies and Economic Growth
14. Current Affairs and Economic Developments
Recent Economic Surveys
Union Budget Analysis
Major Economic Policies and Reforms
Latest Reports from RBI, IMF, World Bank
