UPSC SYLLABUS

Economy (Policy & Reforms In Indian Economy (Mains))

UPSC Syllabus

  • Indian Economy and issues relating to planning, growth, development and unemployment
  • Mobilization of resources
  • Government Budgeting.
  • Investment models.
  • Financial and Money Market
  • Inflation
  • Direct and Indirect taxes
  • Inclusive growth & issues arising from it.

Indian Economy and issues relating to Planning

  • Role and objectives of Indian Planning
  • Planning Experience at the Centre and State level.
  • Regulatory Role of the State
  • Development Strategy in India’s Five Year Plan
  • Mahalanobis’ Four-Sector Growth Model and Employment Generation
  • Tackling the Problems of Poverty and Unemployment
  • Vital Role of the Public Sector
  • Analysis of India’s Economic Performance in Development Planning
  • Trends in Saving and Capital Formation since Independence
  • Role of NITI Aayog in Cooperative federalism

Resource Mobilization

  • Types of Resources: Physical and Financial
  • Need for Resource Mobilization- Police State and Democratic Welfare State policies
  • Sources of Resource Mobilization: Public Sector and Private Sector
  • Taxation and Mobilization of Resources for Economic Growth
  • Direct Taxes and Mobilisation of Resources
  • Agricultural Taxation & Resource Mobilisation
  • Role of Indirect Taxes in Resource Mobilisation
  • Mobilization of financial resources through Government Revenues
  • Role of Public Debt in resource mobilization and effects: Market borrowing, loans, grants, etc.
  • Role of Fiscal and Monetary policies in resource mobilization
  • Role of Foreign investment in resource mobilization:Desirability and Consequences
  • Multi-lateral agencies and resource mobilization
  • Challenges to Resource Mobilization

Inclusive Growth and issues arising from it

  • Meaning and concept of Inclusion
  • India’s experience of Inclusion
  • Why India’s growth is not inclusive?: Rural economy based growth, Need of Sustainable agriculture, food security and resilience for growth
  • What are the solutions?
  • Inclusion process through Social sector flagship schemes and Ground realities
  • Public distribution schemes: Can it be the way to inclusive growth
  • Financial inclusion as an instrument of inclusive growth
  • Poverty Alleviation and Employment Generation as a strategy for inclusive growth
  • Social sector development as an instrument for inclusive growth
  • Public private partnership for inclusive growth
  • Industrial Integration for inclusive growth
  • Sectoral and regional diversification as a tool for inclusive growth

Government Budgeting

  • Budget terminology
  • Types of budget
  • Features of Outcome budgeting , Gender Budgeting
  • Benefits of budgeting
  • Flaws in budgeting process
  • Merger of Railway and General Budget
  • Budget analysis

Investment models

  • Measures of Investment
  • Factors affecting investment
  • Classification of Investments : FDI
  • Angel Investors and Start-ups
  • Investment Models
  • Role of State
  • PPP (Public-Private Partnership)
  • Savings and Investment Trends

Fiscal Policy

  • Fiscal Concept and Fiscal Policy in India
  • Government Revenues & Spending Trends
  • Impact of deficits on economic growth
  • Twin Balance Sheet syndrome
  • Types of Deficit

Taxation

  • Objectives and Principles of Taxation
  • Taxation for Mobilization of Resources
  • Taxation System in India
  • Tax Reforms
  • GST and its impact on different sectors
  • Subsidies and its Impact

Monetary policy in India

  • Instruments of Monetary Policy
  • Monetary policy in Pre-Reform Era (1948 – 1991)
  • Monetary Policy in Post-Reform Era (Since – 1991)
  • Urjit Patel Committee Report               
  • Monetary Policy Committee and Inflation Targeting

Financial System

  • Money Market and Capital Market in India
  • Regulatory Framework in Indian Capital Market
  • Primary Market Reforms in India
  • Secondary Market Reforms in India
  • Current and capital account convertiblity
  • Risks of financial system              

Banking

  • Indian Banking System
  • Terminologies/Concepts Related to Banking in India
  • Nationalization of Banks in India
  • Functions of Commercial Banks
  • Challenges Faced by Commercial Banks in India
  • Banking Reforms in India
  • New Bank License Criteria
  • Small Finance Banks and Payment Banks Criteria
  • Non-Banking Financial Company (NBFC)
  • Financial Inclusion
  • Issue of NPAs
  • Bills related to Banking

Foreign trade & International Organizations

  • Trends in International Trade
  • Foreign Trade Policy
  • Balance of Payments and Foreign Capital
  • Impact of Globalization on Indian Economy
  • International Monetary Fund (IMF)
  • World Trade Organisation (WTO)
  • World Bank Group AIIB and NDB

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