Indian Economy By Shabbu Ias
Indian Economy by Shabbu Ias
Table of Contents
1. Introduction to Economics
1.1 Understanding Economics: Scope and Relevance
1.2 Basic Concepts: Microeconomics vs. Macroeconomics
1.3 Importance of Economics in the Civil Services Exam
2. Microeconomics
2.1 Theory of Demand and Supply
2.1.1 Demand: Law of Demand, Elasticity
2.1.2 Supply: Law of Supply, Elasticity
2.2 Market Equilibrium: Determination of Prices
2.3 Types of Markets: Perfect Competition, Monopoly, Oligopoly
2.4 Consumer Behavior: Utility, Indifference Curve, Consumer Surplus
2.5 Production and Costs: Concepts of Total, Average, and Marginal Costs
2.6 Welfare Economics: Efficiency, Equity, and Welfare Maximization
3. Macroeconomics
3.1 National Income: GDP, GNP, NDP, NNP
3.2 Inflation: Types, Causes, and Effects
3.3 Unemployment: Types, Causes, and Effects
3.4 Business Cycles: Phases, Causes, and Policy Responses
3.5 Fiscal Policy: Government Revenue and Expenditure
3.6 Monetary Policy: Role of RBI, Instruments of Control (CRR, SLR, Repo, Reverse Repo)
3.7 Balance of Payments: Current Account and Capital Account
3.8 Exchange Rates: Types and Their Determinants
4. Indian Economy
4.1 Economic History of India: Pre-Independence and Post-Independence
4.2 Planning in India: Five-Year Plans and Their Objectives
4.3 Economic Reforms Since 1991: Liberalization, Privatization, Globalization (LPG)
4.4 Poverty and Inequality: Causes,Government Initiatives
4.5 Employment and Unemployment: Trends, Causes, and Solutions
4.6 Agricultural Sector: Green Revolution, Recent Policies, Challenges
4.7 Industrial Sector: Key Industries, MSMEs, Industrial Policies
4.8 Services Sector: Growth, Challenges, and Future Prospects
5. Government Policies and Programs
5.1 Fiscal Policy in India: Budget, Deficit Financing, Taxation
5.2 Monetary Policy in India: Role of RBI, MPC, Recent Developments
5.3 Government Schemes for Economic Development:
5.3.1 MNREGA
5.3.2 Pradhan Mantri Awas Yojana
5.3.3 PM Garib Kalyan Yojana
5.3.4 Skill India Mission
5.4 Social Welfare Programs: Food Security, Health, and Education
6. External Sector and Global Economy
6.1 Foreign Trade: India’s Exports and Imports, Free Trade Agreements
6.2 International Organizations:
6.2.1 IMF, World Bank, WTO, ADB
6.2.2 BRICS, G20, RCEP
6.3 Global Economic Issues:
6.3.1 Trade Wars, Currency Wars
6.3.2 Globalization and Its Impact on Indian Economy
6.4 International Capital Flows: FDI, FII, ECBs
7. Economic Planning and Development
7.1 Theories of Economic Development: Classical, Keynesian, Neo-Classical
7.2 Sustainable Development: SDGs, India’s Achievements and Challenges
7.3 Human Development: HDI, GDI, Multidimensional Poverty Index
7.4 Role of NITI Aayog in India’s Development
8. Banking and Financial Markets
8.1 Structure of Indian Banking: Public, Private, and Cooperative Banks
8.2 Role of NABARD, SIDBI, and RRBs in Rural and MSME Development
8.3 Non-Banking Financial Institutions (NBFCs)
8.4 Financial Markets: Capital Market, Money Market
8.5 Stock Exchanges: SEBI, Functions and Regulations
8.6 Recent Banking Reforms: Mergers, NPAs, Insolvency and Bankruptcy Code (IBC)
9. Economic Surveys and Union Budget
9.1 Economic Survey: Key Concepts, Major Highlights
9.2 Union Budget: Structure, Key Highlights
9.3 Analysis of Recent Economic Surveys and Budgets
10. Current Economic Issues and Developments
10.1 Digital Economy: Digital Payments, UPI, Cryptocurrency
10.2 Climate Change and Its Economic Impact: Green Economy
10.3 Impact of COVID-19 on the Global and Indian Economy
10.4 Recent Government Initiatives for Economic Revival
11. Practice Questions
11.1 Prelims Objective-Type Questions (Multiple Choice)
11.2 Mains Subjective-Type Questions (Essay, Long and Short Answers)
11.3 Model Answers and Hints
12. Glossary of Economic Terms