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Economy: why Important (GSM1)

1. Industrial revolution, colonization, decolonization 2. Political philosophies like communism, capitalism, socialism etc. 3. Post-independence India population and associated issues, poverty and developmental issues, urbanization 4. Globalization on Indian society 5. Social empowerment, 6. Location of industries

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Economy: why Important (GSM2)

1. 2. 3. 4. 5. 6. 7. 8. 9. 10. Indian Constitution, various bodies devolution of powers and finances up to local levels Ministries and Departments Statutory, regulatory and various quasi-judicial bodies Government policies and interventions for development Welfare schemes Social Sector/Services relating to Health, Education, Human Resources. Poverty and hunger. India and its neighborhood- relations. Bilateral, regional and global groupings and agreements involving India and/or affecting Indias interests 11. Effect of policies of countries on Indias interests, Indian diaspora. 12. Important International institutions
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Economy: why Important (GSM3)

1. 2. 3. Indian Economy and issues relating to planning, mobilization of resources, growth, development and employment. Inclusive growth and issues arising from it. Government Budgeting. storage, transport and marketing of agricultural produce and issues and related constraints;

4.
5. 6. 7. 8.

Farm subsidies, MSP, PDS, Economics of animal rearing

Food processing, upstream downstream, SCM Land reforms in India. Effects of liberalization on the economy, changes in industrial policy and their effects on industrial growth. Infrastructure: Energy, Ports, Roads, Airports, Railways etc.

9.
10. 11. 12. 13.

Investment models.
environmental impact assessment Linkages between development vs extremism. money-laundering and its prevention Security challenges

Mrunal.org

Economy for UPSC: Prep. Resources

Theory / Contemporary 1. NCERT 11, 12 2. Ramesh Singh, Laxmikanth (budget) 3. GS Manual (only Mock Qs) @SPIPA library 4. Dutt Sundaram, 5. Mishra Puri, 6. Uma Kapila Current 1. Hindu: Maintain notes 2. Mrunal.org/Economy 3. Economic Survey, Budget Speech,India Yearbook 2014 4. Yojana, Kurukshetra, EPW, Frontline (@SPIPA Library) 5. Economics Times 6. Financial Express 7. Business line etc.
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Micro Economics
Imp. for CDS, but not much for CSAT / mains For CSAT: (Class 12 NCERT Micro economics)
Elasticity of demands (ch2) + Giffen goods (internet) Law of diminishing marginal product (ch 3.4) Perfect competition (ch4.1): only features. (=>CCI) Non-competitive markets: (ch.6)
features given @intro Monopolistic competition (ch.6.2.1) Oligopolistic competition (ch 6.2.2)

Price ceiling and Price floors (ch5.2): only basic definition Glossary : only MCQ worthy definitions.
Mrunal.org

Economy for Exam= Macro + Indian

1. Barter => Money =>Evolution 2. Circular Flow of income=> FI
1. 2. 3. 4. Banking=> RBI Finance=> SEBI Insurance=> IRDA Reforms, foreign investment

3. International Trade
1. BoT, BoP, CAD, Forex, FDI, FII 2. World Bank, IMF, ADB, WTO 3. (Mains) IR/Bilateral/globalization Angle

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Economy for exam Macro + Indian

1. Taxation
1. 2. 3. 4. 1. 1. 2. Budget, policies, planning-schemes-subsidies=>fiscal deficit Tax reform: VAT, GST, DTC, GAAR, (Mains) Money laundering Subsidy reform: LPG, Sugar, petro/diesel, DBT disinvestment SC, CCI, CAG, Scams, policy paralysis Sustainable, inclusive, empowerment Poverty, inflation, employment, HDI, skill development Prelim mains interview

2. Judgment 3. Growth & Development 4. Business GK/PIN

1. 2.

Mrunal.org

GDP & Growth: Basics

NCERT Class 12 Macro Economics

Ch 1 basic. Ch. 2 National Income Accounting Circular flow of income. How to calculate national income (details) GDP, GNP, NNP, deflator and their formulas. Ramesh Ch1. subtopic ideas of national income

(NCERT) ch2. GDP vs Welfare 1. RAMESH: Ch 2 growth and development. 2. Human Development index: Theory + current (Mrunal under Economic Survey ch. 13 summary) + Schemes. 3. Then newspaper + Yojana/Kuru +Magazines =>pib.nic.in

Mrunal.org

Money-Banking-Finance (theory)

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Money-Banking-Finance (theory)
NCERT Class 12 (Macro Economics) Ch. 3 Money & Banking: Supply of money, Functions of RBI Ramesh Singh: 12 Banking 11. Financial market => 14 Securities Market (Stock exchange, FII, QFI etc.) 13 Insurance

Mrunal.org

Money-Banking-Finance (Current)
Economic Survey ch5 (FI) Legal angle: CSR, company law, SEBI powers Committees: Mayaram FDI-FII, Bimal Bank License, Nachiket Fin. Services, PJ Nayak Governance in Bank boards Scam like: Bitcoin, Ponzi Scheme, NSEL, SEBI-SAHARA, Money laundering Growth/Inclusion Angle Internal economy in foreign countries.

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Money-Banking-Finance:
How to Maintain Notes?
Banking 1. RBI did not change the r ates 2. Hongkong Macau: RBI sensitive list, persmission (FEMA) 3. Nachiket, Bimal, PJ Nayak 4. Forex reserve: 179=>293 5. Women bank: 1cr. Loan w/o collateral

Mrunal.org

Money-Banking-Finance:
How to Maintain Notes?
SEBI/IRDA/Securities 1. SEBI: corporate governance new norms; NSEL scams, Sahara Scam 2. IRDA:
1. CSC can sell policies, 2. Broker model for Banks 3. (Biz GK) Bajaj alliz. All women branch insurance

3. 4. 5. 6. 7.

EPFO: raised the return, single number Coal India: dividend Rs.29 (G-sec 15 cr / 18 cr. Dividend) TCS: profit raised 50%; 25k new jobs Inflation indexed bonds NCDEX- GoldH100, BSE: India sovereign index
Mrunal.org

Foreign Trade/Investment (theory)

NCERT 12/macro/ch.6 Balance of Payment, Foreign Exchange Gold standard, Bretton woods. Formulas and Charts National income: Y=C+I+G+X-M + all the terms in Glossary. Ramesh Singh Ramesh Ch15: External Sector Ramesh ch16: IMF, World banks, OECD, ADB and other intl.org (even for Mains)
Mrunal.org

Foreign Trade/Investment (Current)

1. CAD high, Rupee weak (Govt+RBI) 2. Bilateral investment
1. India 2014 Ch. on Commerce. (for Mains.) 2. Visits and agreements. (notes)

3. WTO: current (Bali summit, agro subsidy) 4. Infra, Food processing related (GSM3)

Mrunal.org

Foreign Trade/Investment:
How to Maintain Notes?
1. FDI
1. 2. 3. 4. 5. 6. 7. 8. 9. Wallmart got CCI permission, Wallmart India ltd. Tesco (UK) + Trent (TATA) FDI=>16-33% went back in Royalty payment Axis Bank=>62% foreign bank TATA+SIA airlines deal. A320 on lease FDI proposal in rail; white paper on e-commerce Rio-tinto: Bundelkhand MP, diamond Top-10 Lactel buys Tirumala dairy Mayaram Panel on FII and FDI

2. CAD: 50 bn$; 3. Basmati Highest exporter India 4. Environment clearance: POSCO, Niyamgiri=> visit of S.Korean President
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Taxation
NCERT/12m/Ch. 5 Revenue and capital account Measures of deficit Changes in Expenditure : graph and formulas Debt, deficit 1. Laxmi Polity: Ch. on parliament=>budget making (Polity) 2. Laxmi Pub.Ad:
1. Chapter on Financial Administration, 2. Union Government in India (PSU)

Ramesh Singh 18 Public finance. Ramesh singh Ch.17 Taxation Lastly, GSM (MCQ)
Mrunal.org

Taxation: Current/ Contemporary

Only Vote on account Feb 2014 Rail budget:
Technology, metro project, agro. (mains) Cross-subsidization: rail tariff authority

Full budget after election

FMs Full speech, schemes, taxes Estimates: highest earning from? Slab overviews. FRBM target Excise/custom: Agriculture, MSME, foreign trade

BTT, GAAR, DTC, VAT, GST,Money laundering (Mains)

Mrunal.org

Taxation/ judgement:
How to maintain notes
CBDT: cancelled tax exemption for cricket boards VCES: voluntary compliance encouragement scheme: Service tax (31st dec) LPG Gas: Rahul, Gujarat-GAIL, new pricing for LNG acco2 Rangarajan NELP: 10th round Flexi funds: for state government scheme Subsidies 3lakh crore, DBT saves 60k

Mrunal.org

Taxation/ judgement:
How to maintain notes
Fiscal deficit: CRISIL 5.2%, take special dividend from PSUs NHAI : plan meetings waste of time Disinvestment: Hindustan Zinc scam, SUUUTI Gold import duty reduce Coalgate: government admits wrongdoing in SC CCI: 1.7k crore penalty on CIL Adani SEZ: HC cancelled clearance

Mrunal.org

Indian Economy
Background: NCERT 12: Fundamental of Human Geo. 1. Unit III (ch.5 to 9): sectors of economy Colonialism, Imperialism, industrial revo. 1. NCERT (old) class 10, first chapter (Mrunal.org/history) 2. Bipin Chandra (Ch7) Economic Critique 3. NCERT class11 (economy) Chapter 1

Mrunal.org

Indian Economy (post-Independence)

For both Prelim + Mains NCERT (economy) class11: Chapter 2 1. Planning=> Ramesh 4 and 5 2. Land reforms =>
1. Prelim (NCERT) + India Yearbook for schemes (rural development) 2. (Mains) Mrunal.org/polity + Bipins PI (ch.29 to 31)

3. Green revolution
1. Prelim (NCERT) 2. Mains: Bipin (PI) ch33 3. Yoj, Kuru, newspapers
Mrunal.org

Indian Economy Prelim cum Mains

NCERT class11: Chapter 2 1. Green revolution
1. 2. 3. 4. 5. 6. Prelim (NCERT) + (Yearbook: MSP, NAFED etc.) Ramesh Singh Ch.8. Mains: Bipin (PI) ch33 ==>Geography/Agriculture (Cropping, seasons, soil types) ==>Food processing, Food security (mains) Yoj, Kuru, newspapers

2. Subsidies =>Budget, Economic Survey, DBT

Mrunal.org

Indian Economy Prelim cum Mains

NCERT Class 11 Chapter 2: Industrial policy resolution, Import substitution, Permission raj Chapter 3: LPG Ramesh Singh 1. Ch.6 (Economic Reforms) 2. Ch7 Inflation. (+newspaper) 3. ch9 (Indian industry and infra.) licensing, policy, disinvestment Budget + Economic survey + IYB Mains Bipin PI Ch.25-28 Newspaper columns
Mrunal.org

Indian Economy Prelim cum Mains

NCERT class11: Ch4 Poverty: poverty line, Causes of poverty Ch5 human capital formation Ch7 Employment Prelim cum mains (GSM1, 3) Ramesh: ch.21 Demographic dividend, 22 human development Eco. Survey ch.2 and ch.13 Census 2011, skill Development (Yoj/Kur/12th FYP/Schemes)
Mrunal.org

Indian Economy Prelim cum Mains

NCERT class11: Ch.6 Rural development=>
Eco.Survey ch8 (agri. Food Management) IYB chapter (Agri, rural urban Development)

Rural banking=>RRB, financial inclusion (site) Agri.marketing=> Food processing (Mains) (site) Organic farming & its benefits. + Hindu, Magazine
Mrunal.org

Indian Economy (infra)

NCERT class11: Ch.7 infrastructure Energy=>
renewable/non sources (GSM1); infra. (GSM3) DR Khullar, Economic Survey

Health infra.=> MDG, Public health, Schemes (GSM2 social sector schemes) (site) Current 1. Ramesh Ch 9 and ch.22 2. Economic Survey ch. 9, 10 and 11 (site) 3. Newspaper, Y/K/12th
Mrunal.org

Indian Economy (Sustainable Development)

Prelim cum Mains
NCERT class11: 9 Carrying capacity, ozone depletion etc. basic NCERT sci/geography, NIOS Current 1. Ramesh Ch.20 2. RIO+20 (Mrunal.org/enb) 3. Economic Survey ch. 12(site)

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Indian Economy (vs. others)

Prelim cum Mains
NCERT class11: ch.10 Comparative Development (not much) (Mains)Decolonization => NCERT (old) Class10 IR angle: newspapers [mainly those affecting Indian interests]

Mrunal.org

Overall
First priority: 1. Class 11 Micro. 2. Class 12 Macro=> Ramesh, Laxmi 3. Class 11 Economic Development => Ramesh + solve last three papers + Mock Questions from theory Parallel: Notes making for current.

Mrunal.org