Indian Economy PRELIMS Micro Schedule
Basic Concepts
Macroeconomic Concepts
- Meaning of Economics
- Types of Economies
- Sectors of an Economy
- Other Sectors of Economy
- Microeconomic Concepts
Microeconomic Concepts
Economic Measurement
National Income Concepts and Methods of Calculation
National Income
- Real National Income
- Calculating National Income
- Gross Fixed Capital Formation (GFCF)
- National Organizations Related to National Income Accounts?
- Latest India’s National Income Estimates
- New Series of National Statistics (Base Year 2011-12)
- Annual Estimates of Expenditures on GDP
- Per Capita Income
- Purchasing Power Parity
- Lorenz Curve
- Philip’s Curve
- Gini Coefficient
Inflation
- Concepts and Types of Inflation
- Causes of Inflation
- Effects of Inflation
- Measures of Inflation
- WPI, CPI
- Producer Price Index
- GDP Deflator
- Core Inflation
Change in Reporting of Inflation
Measures to Check Inflation?
- Fiscal Measures
- Administrative Measures
- Monetary Measures
Economic Growth and Development
- Economic Growth
- Economic Development
- Measurement of Economic Development
- Physical Quality of Life Index (PQLI)
- Millennium Development Goals (MDGs)
- Different Levels of Economic Development
- Economy and Environment?
- Environment Taxes
- Carbon Tax
- Green Accounting
- 12th Five Year Plan and Sustainability?
Money and Banking
Money Function and Classification
- Money Concept
- Measures of Money Supply in India
- Indian currency system
- Broad and Narrow Money
- Money multiplier
- Digital Money
- New Monetary Aggregates
- Monetary Policy
Financial Market and its Instruments
- Concept and functions of financial markets
- Importance of money market
- Types of capital market
- Distinguish between capital market and money market
- Nature and functions of a stock exchange
- Advantages of stock exchanges
- Limitations of stock exchanges
- The stock exchanges in India
- Insurance Industry – Insurance Industry and Reforms
- Role of Financial Regulators: SEBI and IRDA
- Banking Structure in India
- Scheduled Commercial Banks
- Nationalized?Banks
- Public Sector Banks?
- State Bank of India
- Private Banks
- Foreign Banks
- Regional Rural Banks
- Scheduled Co-operative Banks
- Reserve Bank of India (RBI)
- Methods of Credit Control
- Cash Reserve Ratio (CRR)
- Statutory Liquidity Ratio (SLR)
- Repo Rate
- Reserve Repo Rate
- Call Rates
- Marginal Standing Facility (MSF)
- Bank Rate
- Banking Sector Reforms in India
- Differentiated Banks
- Payment Banks
- Small Banks
- New banking licence
- White Label ATM
- Unified Payments Interface
- Bank Board Bureau
- Marginal Cost of Funds Based Lending Rate (MCLR)
- Priority Sector Lending Certificates
- Concept of Micro ATM
- Banking Reforms
- Basel Norms
- Banking Ombudsman
- Development Financial Institutions
- Insurance Companies
- Recent developments in Economic Sector
- Government to recapitalize the PSB’s
- RBI rule and regulation for peer to peer (P2P) lending
- Domestic Systematically Important Banks (SIBs) of India
- Financial Inclusion in India
- The Concept of Bad Bank
- Alternative Mechanism Panel for PSB consolidation
- Employee Provident Fund of India
- Enforcement Department In RBI
- Gold Monetization Scheme (GMS)
- Indian Post Payment Bank (IPPB)
- Indian Gold Coins/Gold Bullion Scheme
Public Finance in India
- Budgeting
- Union Budget
- Plan and Non Plan
Expenditure - Revenue Receipts
- Tax Revenue Receipts
- Non-Tax Revenue Receipts
- Union Budget
- Fiscal
Policy- Fiscal Responsibility and
Budget Management (FRBM) Act, 2003 - Revenue Deficit, Fiscal
Deficit, Primary Deficit - Deficit and Surplus Budget
- Deficit Financing
- Fiscal Responsibility and
- Centre
State Distribution- Finance Commission (A280)
- Tax
Structure in India- Tax – Direct Tax, Indirect
Tax - Methods of Taxation –
Progressive,
Regressive, Proportional - Value Added Tax – VAT in
India - Goods and Services Tax –
GST, GST Council - Service Tax
- DTC – Direct Tax Code
- Tax – Direct Tax, Indirect
Planning
- Meaning
Objectives and History- Meaning of Economic
Planning - Objectives of Planning
- Strategies
of Planning
- Harrod Domar strategy
- Nehru Mahalonobis strategy
- Gandhian strategy
- LPG strategy
- Regional and National
Planning - Imperative and Indicative
Planning - History of Planning in
India - Visvesvaraya Plan, Gandhian
Plan FICCI Proposal, Congress Plan Bombay Plan - Planning Commission and
National Development Council(NDC) - Central Planning – 5 Year
Plans, 20 Point Program, MPLADS - Decentralized Planning
- Meaning of Economic
- Planning Institutions
- Planning Commission
- NITI Aayog
- National Development Council (NDC)
- Five Year Plans in India
- 12th Five Year Plan (2012-2017)
- Alternative Scenarios During 12th Plan
Open Economy/ Advanced economy concepts
- Foreign
Trade Concepts- Balance of Payments
- Foreign Capital – FDI, FPI,
FII, QFH - Foreign Exchange–Exchange
Rate NEER & REER, ETF - FERA & FEMA
- Capital Account
Convertibility in India - India’s External Debt
- NRI Deposits
- Trade Composition
- Trade
Policy and Agreements- Import Cover
- Import/Export Controls
- Foreign Trade policy
2015-20 - Export Promotion
- General Agreement on
Tariffs and Trade
- Exchange
Rate- Exchange Market
- LERMS
- NEER
- REER
- ETF
- International
Organization- United Nations
- Food and Agriculture
Organization (FAO) - International Civil
Aviation Organization (ICAO) - International Fund for
Agricultural Development (IFAD) - International Labour
Organization (ILO) - International Maritime
Organization (IMO) - International Monetary Fund
(IMF) - International
Telecommunication Union (ITU) - United Nations Educational,
Scientific and Cultural Organization
(UNESCO) - United Nations Industrial
Development Organization (UNIDO) - Universal Postal Union
(UPU) - World Bank Group (WBG)
- International Bank for
Reconstruction and Development (IBRD) - International Finance
Corporation (IFC) - International Development
Association (IDA) - World Health Organization
(WHO) - World Intellectual Property
Organization (WIPO) - World Meteorological
Organization (WMO) - World Tourism Organization
(UNWTO) - World Trade Organization
(WTO) - Asian Development Bank
- Asian Infrastructure
Investment Bank (AII) - New Development Bank
- African Development Bank
- Trade
Agreements- RCEP
- TPP
- NAFTA
- MERCOSUR
- Southern African
Development Community (SADC) - ASEAN
- SAFTA
- Recent
Developments in External Sector- Global foreign exchange committee
- Price capping of medical
devices in India - Review of the International
Investment Agreement (IIA) - India signed the OECD
multilateral convention to prevent BEPS (Base Erosion and Profit
Shifting) - Second Exchange Traded Fund
(ETF) Bharat 22 - Double Tax Avoidance Treaty
- Preferential Trade
Agreement with Chile - Advance Pricing Agreement
- National Committee on Trade
Facilitation - E-tourist Visa
- India’s Asylum Policy
- Investor-State Dispute
Settlement (ISDS)
Economic Sectors
- Poverty
- Definition and Indices
- Poverty in India
- Human Poverty Index (HPI)
- Expert Groups for Estimating Poverty
- Inequality
- Employment
- Employment and Unemployment
- Poverty Eradication and Employment Related Related programs
- Government Schemes and Programs
- New Social Welfare Schemes
- Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)
- Other Social Protection Programmes
- Rural Infrastructure and Development
- Urban Infrastructure, Housing and Sanitation
- Education Schemes
- Financial Inclusion Schemes
- Health Schemes
- Women Empowerment Programmes
- Other Women Empowerment Programmes
- Social Security Measures
- Committees
- Ratan P Watal Committee on Digital Payment
- Committee for Market Infrastructure Institution (MII)
- P. J. Nayak Committee
- Deepak Mohanty Committee Report on Medium-term Path on Financial Inclusion
- Narasimham Committee Report on Banking Sector Reforms
- Uday Kotak Committee on Corporate Governance
- Nachiket Mor Committee
Indian Economy MAINS Micro Schedule
Chapter 1- Growth and development
- Economic Growth in India: National Income Determination, GDP, GNP, NDP, NNP, Personal Income
- Economic Growth versus Economic Development
- Measures of Economic Development: Human Development Index, Green GDP, Gross National Happiness Index
- Economic and Social Development in India: Millennium Development Goals
- Sustainable Development Goals and India
Chapter 2- Issues related to planning
- Issues related to planning in India
- Planning in India: Bombay Plan; People’s Plan; Mahalanobis Plan; Wage-Good Model; Gandhian Plan
- Mobilization of Resources
Chapter 3- Inflation
- Inflation in India: CPI, WPI, GDP Deflator, Inflation Rate
- Types of Inflation: Demand Pull, Cost-Push, Stagflation, Structural Inflation, Deflation, and Disinflation
- The Cost of Inflation
Chapter 4- Monetary policy in India
- Monetary Economics: Barter System, Definition, Function and Evolution of Money
- Monetary Policy in India: Inflation, deflation, Recessionary and Inflationary Scenarios
- Monetary Policy tools and Money Supply in India
- Monetary Policy Agreement in India
Chapter 5- Banks & Financial markets
- Banking in India: Definition, Functions, and Types of Banks
- Development Finance Institutions: IFCI, ICICI, SIDBI, IDBI, UTI, LIC, GIC
- Nationalisation of Banks
- Banking Sector Reforms in India: Narasimhan Committee 1&2, Nachiket Mor Committee, P J Nayak Committee
- Problem of Non Performing Assets in India
- Non-Banking Financial Companies in India
- Financial Inclusion in India: Need and future; PMJDY; Payment Banks and Small Banks
Chapter 6- Indian Agriculture
(a) Historical background and current status
- Land reforms in India
- Situation of Indian Agriculture
(b) Cropping Patterns
- Cropping Patterns in India: Factors Affecting; Most Important Cropping Patterns
- Types of Cropping Systems: Mono-cropping; Crop Rotation; Sequential Cropping; Inter Cropping; Relay Cropping
(c) Issues related to direct and indirect farm subsidies and minimum support prices
- Farm Subsidies in India: Definition; Working; Need; Negative Impacts
- Types of Farm Subsidies in Indian Agriculture: Irrigation and Power Subsidies; Fertilizer Subsidy; Seed Subsidy; Credit Subsidy
- Government Intervention in Indian Agriculture
- Minimum Support Prices in Indian Agriculture: MSP definition; Working; Issues; Drawbacks; Way Ahead; Buffer Stocks
- Public Distribution System in India: Definition; Issues; Working; Need; Disadvantages
- Targeted PDS in India, Antyodaya Anna Yojana (AAY), Alternative to the PDS, Direct Benefit Transfers, National Food Security Act
(d) Agriculture Marketing
- Marketing of Agricultural Produce in India: Definition; Role; APMC Act, Model APMC Act, 2003
- Private and Co-operative Sector in Marketing of Agriculture Produce in India
(e) Technology missions and e-technology in the aid of farmers
- Technology Missions in India
- E-Technology in Indian Agriculture to Aid the Farmers
Chapter 7- Poverty, Inequality, and Unemployment
(a) Poverty
- Poverty in India: Types of Poverty, Causes of Poverty, Vicious Circle of Poverty
- Poverty Lines in India: Estimations and Committees
- Poverty in India: Trickle Down Approach, Inclusive Growth and Multi-Dimensional Poverty Index
- Addressing Poverty in India/Poverty Eradication Schemes
(b) Inequality
- Inequality in India: Definition and Measures; Lorenz Curve, Gini Coefficient, Income held by Top 10%
- Income Inequality in India: Causes, Remedies, and Consequences
(c) Unemployment
- Unemployment in India: Definition, Types, and Measures
- Unemployment in India: Causes and Consequences
(d) Other important issues
- Economics of Animal Rearing in India
- Government Policies towards Women Empowerment: Beti Bachao Beti Padhao, SSA, Kasturba Gandhi Balika Vidyalaya, Saakshar Bharat, SABLA, STEP
- Education in India: Role and Channels in Promoting Economic Growth
Chapter 8- Government budgeting
- The Role of the Government in the Economy
- The Government Budget: Revenue Budget, Capital Budget, Government Deficits
- Budgetary procedure in India
- Types of Budgets in India
Chapter 9-Taxation in India
- Taxation in India: Classification, Types, Direct tax, Indirect tax
- Goods and Services Tax
- Tax Reforms in India
- Concept Related to Taxation: Tax Incidence, Tax Evasion, Laffer Curve, CESS and Surcharge
Chapter 10-External sector
- India’s Balance of Payments: Current Account, Capital Account, Goods and Services Account
- India’s BOP Performance: Balance of Payment versus Balance of Trade, Current Account versus Capital Account
- FDI and FPI in India, External Commercial Borrowings, Foreign Exchange Reserves in India
- Foreign Exchange Rate Determination in India and Types of Exchange Rate
- Capital and Current Account Convertibility in India
Chapter 11- International economic organizations
- The Bretton Woods Twins- World Bank and IMF
- ADB, BRICS Bank, AIIB
- Bilateral, Regional and Global Groupings and Agreements involving India
- The World Trade Organisation (WTO) and India
Chapter 12-Food processing & related industries
- Food Processing Industry: Definition and Dimensions; Channels of Transitions; Inter linkages between Agriculture and Industry
- Food Processing Industry: Food Based Industry versus Non- Food Based; Location, Upstream, Downstream Requirements
- Food Processing Industry: Forward, Backward Linkages; Food Processing Industry and Economic Development
- Food Processing Industry in India: Growth Drivers, FDI Policy, Investment Opportunities; Schemes Related to Food Processing Sector
- Supply Chain Management in Indian Agriculture
Chapter 13-Industrial sector
- Industrial development in India
- Industrial Policy in India and its effects on growth
- Public sector undertakings in India
- Privatisation of the Public Sector Enterprises
Chapter 14-Infrastructure
- Infrastructure Sector in India: Definitions; Growth and Infrastructure Linkage
- Infrastructure Development in India
- Infrastructure Sector in India: Growth Drivers; Government Policy Initiatives
- Road Transport in India
- Civil Aviation Sector in India
- Railways Sector in India
- Recent Initiatives by the Railways
- Telecommunication Sector in India
- Notable Initiatives of Indian Telecom Sector
- Port sector in India
- Energy and Power Sector
- Government Policy Support for the Energy Sector
Chapter 15-Investment model
- Investment Models: Public Sector Led Investment Model; Private Sector-Led Investment Model
- Public-Private Partnership Model: Definitions; Need for PPP; Prerequisites.
- Public-Private Partnership Models: Contracting, Build Operate Transfer, Design Build Finance Operate (DBFO), Concessions, Build Operate Transfer, EPC Model, Swiss Challenge Model, HAM Model
