1. Economy Basics
- Scarcity and choice
- Opportunity Cost
- Factors of production
- Production Possibility Curve (PPC)
- Microeconomics vs Macroeconomics
- Economic systems: Capitalist, Socialist, Mixed
- Demand and supply
- Elasticity of demand and supply
- Market structures: Perfect competition, Monopoly, Oligopoly
- Public goods vs Private goods
- Economic growth vs Economic development
2. Indian Economy Structure
- Sectoral classification: Primary, Secondary, Tertiary
- Organised vs Unorganised sector
- Structural transformation
- Employment vs output contribution mismatch
- Informalisation of workforce
- Demographic dividend
- Dual economy
- Urbanisation and migration
- Service-led growth model
3. National Income Accounting
- GDP, GNP, NDP, NNP
- Nominal vs Real GDP
- Factor cost vs Market price
- Per Capita Income
- Three methods of national income estimation
- GDP deflator
- Base year revision
- Limitations of GDP as welfare measure
- Alternative indicators: HDI, MPI, Green GDP
4. Planning in India: NITI Aayog
- Evolution of planning in India
- Five-Year Plans
- Centralised vs Decentralised planning
- Indicative Planning
- Cooperative Federalism
- Competitive federalism
- Outcome-based planning
- Role of NITI Aayog as policy think tank
- Aspirational Districts approach
5. Inflation and Price Stability
- Inflation, deflation, Disinflation, stagflation
- Demand-pull vs Cost-push inflation
- Headline vs Core Inflation
- Consumer Price Index (CPI)
- Wholesale Price Index (WPI)
- Base Effect
- Inflation expectations
- Phillips Curve
- Price stability and growth trade-off
6. Monetary Policy and Banking System
- Objectives of monetary policy
- Inflation targeting framework
- Repo, Reverse repo, CRR, SLR
- Liquidity Adjustment Facility (LAF)
- Monetary transmission
- Quantitative vs Qualitative tools
- Banking sector structure
- NPAs and asset quality
- Basel norms
- Financial inclusion
- Digital payments ecosystem
7. Fiscal Policy and Budgeting
- Objectives of fiscal policy
- Revenue vs Capital receipts and expenditure
- Fiscal Deficit, Revenue deficit, Primary Deficit
- Counter-cyclical fiscal policy
- FRBM framework
- Public debt management
- Quality of public expenditure
- Off-budget borrowings
- Subsidy rationalisation
8. Indian Taxation System
- Direct vs Indirect taxation
- Progressive, Proportional and Regressive taxes
- Goods and Services Tax (GST) structure
- Input Tax Credit
- Tax Buoyancy
- Broadening the tax base
- Laffer Curve
- Cess and surcharge
- Cooperative Federalism in taxation
9. Indian Agriculture and Allied Sectors
- Cropping patterns and seasons
- Green Revolution
- Land reforms
- Minimum Support Price (MSP) mechanism
- Agricultural marketing reforms
- Contract farming
- Food security and PDS
- Irrigation and water management
- Soil health and fertiliser use
- Allied activities: dairy, fisheries, poultry
- Climate change and agriculture resilience
10. Industrial Sector Policies
- Industrial policy evolution
- Liberalisation and deregulation
- Make in India
- Role of MSMEs
- Import substitution vs Export promotion
- Industrial clusters
- Ease of Doing Business
- Startup ecosystem
- Production Linked Incentive (PLI) schemes
- Technology and innovation in industry
11. Infrastructure and Core Sectors
- Infrastructure as growth multiplier
- Core industries
- Power, transport, ports, telecom, logistics
- Public-Private Partnership (PPP) models
- National Infrastructure Pipeline
- Asset monetisation
- Infrastructure financing challenges
- Connectivity and competitiveness
12. External Sector and International Trade of India
- Balance of Payments structure
- Current account and capital account
- Current Account Deficit (CAD)
- Foreign exchange reserves
- Exchange rate regimes
- Depreciation vs Devaluation
- Export promotion strategies
- Foreign Direct Investment (FDI)
- Trade policy and FTAs
- Capital account convertibility
13. Economic Reforms Since 1991
- Liberalisation, Privatisation, Globalisation (LPG)
- Deregulation and delicensing
- Disinvestment and strategic privatisation
- Financial sector reforms
- Trade liberalisation
- Second-generation reforms
- Regulatory institutions
- Competition policy
- Role of private sector
14. Poverty, Unemployment and Human Development
- Poverty concepts and measurement
- Poverty lines and committees
- Multidimensional poverty
- Unemployment types: open, disguised, seasonal, structural
- Jobless Growth
- Skill development
- Demographic dividend
- Human Capital Formation
- Health and education as growth drivers
- Social security and welfare schemes
15. International Economic Institutions
- Bretton Woods system
- IMF functions and lending
- World Bank group institutions
- WTO principles and dispute settlement
- SDR and reserve currencies
- Multilateral vs bilateral trade systems
- Development finance institutions
- Global economic governance
- Protectionism vs free trade
Share this: