Word of wisdom
I created these thinking I would turn them into Anki cards and memorize the whole book word by word. But beware, making Anki cards from these questions is not the right way to go about it. The reviews will become endless, and you will waste months trying to revise them through Anki. The best approach is to go through these once, maybe twice. That’s it. Test yourself a few times and give more and more mocks. Given the skewed nature of Prelims, especially after 2026, it has become very dicey to memorize such facts word by word. Focus on practice through mocks. Optimize for output and marks rather than perfect memorization. But ultimately, do as you please. You’d know better than me, for sure. ref. Disclaimer for more.
Fundamental of Macro Economy
1.1 Introduction
2. Differentiate between microeconomics and macroeconomics with suitable examples.
3. How does the UPSC syllabus align with macroeconomic studies
1.2 Economic Organization (The Three Problems)
1.3 Economic Systems
1. Compare and contrast market, command, and mixed economies with examples.
2. What is a laissez-faire economy How does it function in a market system
3. Why do modern economies prefer a mixed economic model
1.4 Four Sectors of Economy
1. List the four sectors of the economy and describe the role of each.
2. Differentiate between the private and government sectors with examples.
3. Explain the household sector’s contribution to economic production and consumption.
4. How does the external sector impact the national economy
1.5 Private Sector
1. What are the factors of production Explain the role of each in economic output.
2. How does the private sector utilize resources like labor and natural capital for production
1.6 Types of Goods
1. Differentiate between intermediate goods and final goods with examples.
3. How do capital goods differ from consumption goods Provide examples of dual-purpose goods.
1.7 Investment
1. What constitutes gross investment in an economy How is it related to GDP
2. Explain the concept of net investment with an example.
3. Discuss the relationship between household savings, investment, and economic growth.
1.8 Circular Flow
1. What is the circular flow of income in a two-sector economy Explain its components.
2. How does saving by households affect the circular flow of income and capital goods production
3. How does the absence of a government and external sector simplify the circular flow model
1.9 Gross Domestic Product
1. Define GDP and explain its importance in measuring economic activity.
2. How is GDP calculated using the value-added, expenditure, and income methods
3. Discuss the significance of each method in understanding economic dynamics.
1.10 GDP Calculation Methodology by NSO
1. What are the components included in GDP calculation under the value-added method
2. How does the expenditure method capture the economic activities of various sectors
3. Why do discrepancies arise in GDP calculations by the NSO
1.11 Macroeconomic Variables
2. What is the significance of National Disposable Income in macroeconomic analysis
3. How are macroeconomic variables like NDP and NNP calculated
1.12 Nominal and Real GDP
1. Define nominal and real GDP. Why is real GDP preferred for measuring economic growth
2. How is the GDP deflator used to adjust nominal GDP into real GDP
3. What role does the base year play in calculating real GDP
1.13 Productivity, Capital Output Ratio, and ICOR
1. What is the difference between average and marginal productivity Provide examples.
2. Explain the Capital Output Ratio (COR). Why is a lower ratio beneficial for the economy
1.14 Potential GDP
1. What is potential GDP How does it differ from actual GDP
2. Why is achieving potential GDP essential for sustainable growth
1.15 Nominal, PPP, and Real Exchange Rates
1. Define nominal, purchasing power parity (PPP), and real exchange rates.
2. How does PPP adjust for differences in price levels between countries
3. What is the significance of real exchange rates in trade competitiveness
1.16 GDP, Welfare, Development, and Human Capital
1. Why is GDP not a perfect measure of welfare Discuss its limitations.
2. Explain the relationship between GDP, human development, and human capital.
3. How can GDP growth lead to development and welfare improvements
1.17 World Bank and IMF Classification of Countries
1. How does the World Bank classify countries based on income levels
1.18 Inflation Indices
1. What are inflation indices, and why are they important in economic analysis
2. Differentiate between the Wholesale Price Index (WPI) and the Consumer Price Index (CPI).
3. How do inflation indices affect monetary policy decisions
Money and Banking - Part 1
2.1 Introduction
1. Define money and explain its role in economic transactions.
2. How has the evolution of money shaped the modern economy
3. Why is money considered a medium of exchange and a measure of value
2.2 Functions of Money
1. What are the primary functions of money Provide detailed examples.
2. How does money act as a standard of deferred payment
3. Explain the secondary functions of money with real-world applications.
2.3 Exchange Rate Systems
2. Compare and contrast fixed, floating, and managed exchange rate regimes.
3. How does the exchange rate impact inflation and trade balances
2.4 Securities
1. What are the various types of securities available in financial markets
2. Explain the difference between equity and debt securities with examples.
3. Why are securities essential for mobilizing financial resources
2.5 Government Securities
1. What are government securities, and how do they function as risk-free investments
2. Discuss the role of Treasury Bills in government borrowing.
3. How do dated securities differ from bonds issued by the government
2.6 Corporate Bond Market in India
1. What is the significance of the corporate bond market in India
2. How does the corporate bond market support infrastructure development
3. What are the challenges and solutions for deepening the corporate bond market in India
2.7 Financial Markets
1. What is the role of financial markets in the economy
2. Differentiate between primary and secondary markets. Provide examples.
3. How do money markets differ from capital markets in terms of instruments and maturity
2.8 Types of Company
1. What are the key differences between public and private companies
2. How are companies classified based on liability Provide examples of each type.
3. Discuss the advantages and disadvantages of public companies in raising capital.
2.9 Accounts and Deposits
1. What are the different types of bank accounts available in India
2. Explain the significance of current and savings accounts for customers and banks.
3. How do fixed and recurring deposits contribute to a bank’s financial stability
2.10 Money Supply
1. What are the different measures of money supply (M1, M2, M3, M4) Explain each in detail.
2. How does the Reserve Bank of India regulate the money supply in the economy
3. Why is M3 considered the broadest measure of money supply in India
2.11 Money Circulation
1. What factors influence the velocity of money circulation in an economy
2. How do banks and households facilitate the circulation of money
2.12 Money Creation
1. Explain the process of money creation by commercial banks using the credit multiplier.
2. How does the statutory liquidity ratio (SLR) affect the money creation process
3. What are the limitations of money creation in a developing economy
2.13 Monetary Policy
1. What are the objectives of monetary policy in India
2. Differentiate between quantitative and qualitative tools of monetary policy.
3. How does the repo rate influence inflation and economic growth
4. Discuss the role of monetary policy in controlling stagflation.
2.14 RBI and Its Functions
1. What are the primary functions of the Reserve Bank of India
2. How does the RBI act as a banker to the government
3. Explain the role of the RBI in managing foreign exchange reserves.
2.15 RBI’s Sources of Income and Economic Capital Framework
1. What are the key sources of income for the RBI
2. Explain the concept of the Economic Capital Framework and its relevance for financial stability.
2.16 Cryptocurrency and Central Bank Digital Currency (CBDC)
1. Define cryptocurrency and discuss its advantages and challenges.
2. What is a Central Bank Digital Currency (CBDC), and how does it differ from cryptocurrency
3. How can the introduction of CBDC benefit India’s monetary system
2.17 Indian Financial System
1. What are the major components of the Indian financial system
2. How does the financial system contribute to economic growth and stability
3. Discuss the role of non-banking financial companies (NBFCs) in the Indian financial system.
2.18 National Strategy for Financial Inclusion (2019 – 24)
1. What are the objectives of the National Strategy for Financial Inclusion (2019-24)
2. How does financial literacy support financial inclusion
2.19 Base Rate, MCLR, and External Benchmark Rate
1. Explain the differences between Base Rate, MCLR, and External Benchmark Rate.
2. How do these rates influence loan pricing in the banking sector
2.20 BASEL Norms
1. What are the key provisions of BASEL III norms
2. How do BASEL norms enhance banking stability
3. Discuss the challenges faced by Indian banks in implementing BASEL III norms.
2.21 Prompt Corrective Action (PCA)
1. What is the Prompt Corrective Action (PCA) framework How does it ensure banking discipline
2. Under what circumstances does the RBI invoke PCA for a bank
2.22 Systemically Important Financial Institutions
1. What are Systemically Important Financial Institutions (SIFIs)
2. How are SIFIs identified, and why are they critical for global financial stability
2.23 Foreign Investment
1. Differentiate between Foreign Direct Investment (FDI) and Foreign Portfolio Investment (FPI).
2. What are the advantages and disadvantages of FDI for developing countries
2.24 Currency Swap and Forex Swap
1. What is the role of currency swaps in managing foreign exchange reserves
2. How do forex swaps facilitate international trade
2.25 GIFT City (Gujarat International Financial Tech City)
1. What is the vision behind GIFT City How does it aim to strengthen India’s financial sector
2. What are the major benefits of GIFT City for global investors
2.26 Strategic Disinvestment
1. Define strategic disinvestment and explain its importance for fiscal management.
2. How does strategic disinvestment differ from privatization
2.27 Balance of Payments (BoP)
1. What are the components of the Balance of Payments (BoP)
2. How does the BoP reflect the economic performance of a country
2.28 Liquidity Trap
1. What is a liquidity trap How does it affect the effectiveness of monetary policy
2. Discuss measures to overcome a liquidity trap.
2.29 Inflation
1. What are the different types of inflation Explain with examples.
2. How does inflation impact savings, investment, and consumption
3. What tools are available to control inflation in an economy
2.30 Phillips Curve
2. Is the Phillips Curve relevant in the modern economic scenario Discuss.
Money and Banking - Part 2
3.1 History of Indian Banking and Reforms
3. What was the role of the Narasimham Committee (1991) in shaping banking reforms in India
3.2 Relationship between RBI and Government of India
3. What is the role of the RBI in managing the government’s foreign exchange reserves
4. How does the RBI contribute to the government’s budgetary process and monetary policy formulation
6. How do the roles of the RBI Governor and the Finance Minister differ in shaping economic policy
3.3 Should Large Corporates be Allowed to Open Their Own Banks?
4. What is the RBI’s stance on corporate ownership in banking How has this evolved over time
6. How can regulations mitigate the risks of allowing corporates to enter the banking sector
3.4 Financial Stability and Development Council (FSDC)
5. How does the FSDC address challenges related to financial market development and systemic risk
6. Explain the role of the FSDC in addressing macro-prudential supervision and regulation.
3.5 Development Financial Institutions (DFIs)
1. What are Development Financial Institutions (DFIs), and how do they differ from commercial banks
2. Discuss the role of DFIs in financing long-term infrastructure and industrial projects in India.
5. How have DFIs evolved since the 1991 economic reforms What challenges do they face today
3.6 Categorization of Loans
1. What are the different categories of loans in the Indian banking system Define each category.
4. How does the categorization of loans affect credit risk and the overall banking environment
5. What are Non-Performing Assets (NPAs), and how do they impact the categorization of loans
6. How do banks ensure that loans are categorized properly to comply with RBI norms
3.7 SARFAESI Act, 2002
1. What is the SARFAESI Act, 2002, and how does it empower banks to recover defaulted loans
2. Discuss the main provisions of the SARFAESI Act, including the enforcement of security interests.
3. How has the SARFAESI Act impacted the resolution of NPAs in India
6. Discuss the role of asset reconstruction companies (ARCs) under the SARFAESI Act.
3.8 NPA Crisis and Bad Bank
2. How does an NPA affect the balance sheet of a bank and the wider economy
3. What are the reasons behind the rise of NPAs in India’s banking sector in the last two decades
4. What is a bad bank, and how could it help resolve the NPA crisis in India
5. Discuss the potential advantages and disadvantages of creating a bad bank in the Indian context.
3.9 RBI Circular (June 2019) on Resolution of NPAs
2. How did the RBI’s revised framework change the process for the resolution of stressed assets
4. Discuss the challenges faced by Indian banks in implementing the new NPA resolution framework.
5. How does the June 2019 RBI circular align with global best practices in NPA resolution
3.10 Insolvency and Bankruptcy Code, 2016 (IBC)
1. What is the Insolvency and Bankruptcy Code (IBC) of 2016 Discuss its objectives and key features.
2. How does the IBC provide a time-bound resolution process for stressed assets
3. Explain the role of the Insolvency Resolution Professional (IRP) under the IBC framework.
4. How has the implementation of the IBC improved the ease of doing business in India
5. What are the challenges in implementing the IBC, and how can they be addressed
6. How does the IBC interact with the SARFAESI Act and other laws in the context of loan recovery
3.11 Advance Pricing Agreement (APA)
1. What is an Advance Pricing Agreement (APA) Explain its significance in international taxation.
3. Discuss the process of negotiating and implementing an APA in India.
Government Budgeting
4.1 Introduction
1. What is a government budget, and why is it essential for economic governance
2. Explain the key objectives of government budgeting.
3. Differentiate between revenue receipts and capital receipts in the context of government budgets.
4. How does government budgeting impact fiscal policy and economic growth
4.2 Budget Procedure
1. What are the steps involved in the preparation and approval of the Union Budget in India
2. Explain the roles of the Finance Ministry, Parliament, and the President in the budget process.
3. What is a vote on account, and how does it differ from a full budget
4. How is the budget process different at the central and state levels in India
4.3 Government Accounts
1. What are the three types of government accounts in India Describe each briefly.
3. What is the significance of the Contingency Fund, and under what circumstances is it used
4.4 Budget Classification
1. Explain the classification of the budget into revenue and capital budgets.
3. What are the major components of capital and revenue expenditures in the government budget
4.5 Government Deficits
1. Define and differentiate between revenue deficit, fiscal deficit, and primary deficit.
2. What are the implications of a high fiscal deficit for the Indian economy
4. Explain the concept of effective revenue deficit and its relevance in fiscal management.
4.6 Fiscal Policy
1. What is fiscal policy Discuss its objectives and types.
2. How does fiscal policy help in controlling inflation and stimulating growth
3. Differentiate between discretionary and automatic fiscal policies.
4. What are fiscal multipliers, and how do they impact economic growth
4.7 Fiscal Responsibility and Budget Management (FRBM) Act, 2003
1. What are the key objectives of the FRBM Act, 2003
2. Explain the main targets set by the FRBM Act for fiscal deficit and revenue deficit.
4. What are the criticisms and limitations of the FRBM Act in achieving fiscal discipline
4.8 Perspectives on Deficit and Debt
1. How do economists view fiscal deficits in developing economies like India
2. Discuss the relationship between fiscal deficits and public debt.
3. What are the long-term implications of unsustainable public debt on economic growth
4. Explain the concept of the Debt-to-GDP ratio and its significance for fiscal health.
4.9 Monetization of Deficit and Deficit Financing
1. What is monetization of deficit How is it implemented
2. Discuss the advantages and disadvantages of deficit monetization.
3. How does the government finance its deficits through borrowing and bonds
4. Explain the difference between internal and external borrowing for deficit financing.
4.10 Fiscal Council
1. What is a Fiscal Council, and why has it been proposed for India
3. How can a Fiscal Council help address challenges in budgetary forecasting and fiscal management
4.11 India’s Tax System
2. How has the tax-to-GDP ratio evolved in India over the years
3. What are the major challenges in improving tax compliance in India
4. Explain the role of progressive and regressive taxes in India’s fiscal system.
4.12 Goods and Services Tax (GST)
1. What are the key features of the GST system in India
2. Explain the structure of GST, including CGST, SGST, and IGST.
3. What are the advantages of GST over the previous indirect tax system in India
4. Discuss the challenges in implementing GST, including compliance and revenue collection issues.
5. How has GST impacted inter-state trade and federal fiscal relations in India
4.13 Direct Tax Reforms
1. What are the major reforms introduced in India’s direct tax system in recent years
3. How has the introduction of new income tax slabs under the optional regime impacted taxpayers
4. Discuss the role of corporate tax reforms in attracting foreign investment.
4.14 Funds Transfer from Centre to States/UTs
1. What are the main methods of fund transfer from the Centre to states and union territories
2. Explain the role of the Finance Commission in determining fund allocation to states.
3. How do Centrally Sponsored Schemes (CSS) impact state finances
Indian Economy [1947 - 2014]
6.1 Impact of British Rule on Indian Economy
1. What were the major impacts of British colonial policies on Indian agriculture and industry
3. Discuss the role of the Permanent Settlement system in shaping India’s agrarian economy.
4. How did the commercialization of agriculture impact the rural economy in colonial India
5. What were the effects of the Drain of Wealth on India’s economic structure during British rule
6. Explain how the British transport policy shaped the Indian economy, focusing on railways.
7. Discuss the state of Indian infrastructure at the end of British rule in 1947.
6.2 Economy After Independence
1. What were the key challenges faced by the Indian economy immediately after independence
3. What were the objectives and outcomes of the Industrial Policy Resolution of 1956
4. Discuss the strategies adopted for land reforms post-independence. Were they successful
5. How did the Green Revolution transform Indian agriculture What were its limitations
6.3 Economic Situation After Nehru (1965 – 1991)
2. How did the wars of 1962, 1965, and 1971 affect India’s economy
3. What were the causes and consequences of the oil crises of the 1970s on India’s economy
5. How did the policy of license-permit-quota raj impact industrial growth
6. Discuss the economic impact of bank nationalization in 1969.
6.4 Economic Reforms of 1991 (LPG Reforms)
3. How did the devaluation of the rupee in 1991 impact India’s foreign trade
5. How did the removal of import licensing and tariff reductions promote globalization in India
6. Explain the role of disinvestment in promoting privatization post-1991 reforms.
7. What were the outcomes of LPG reforms in terms of GDP growth, employment, and poverty reduction
6.5 Economy Jumped from Agriculture to Services
3. Explain the role of IT and IT-enabled services in driving India’s service sector growth.
4. How did globalization contribute to the rapid growth of India’s service sector
5. Discuss the implications of the service-led growth model on employment generation in India.
7. How does India’s sectoral composition compare with other developing and developed countries
6.6 Planning Commission and Five-Year Plans
1. What was the role of the Planning Commission in India’s economic development
5. Explain the rationale behind the Plan Holiday (1966–69). What were its outcomes
7. How did the Fifth Five-Year Plan (1974–79) prioritize poverty alleviation and self-reliance
9. How did the Eighth Five-Year Plan (1992–97) align with the post-liberalization era
10. What were the limitations of centralized planning as implemented by the Planning Commission
Indian Economy after 2014
7.1 NITI Aayog
1. What are the objectives of NITI Aayog, and how does it differ from the Planning Commission
2. Discuss the key initiatives of NITI Aayog aimed at fostering cooperative federalism.
3. How has NITI Aayog contributed to policy innovation and monitoring in India
5. Explain NITI Aayog’s role in promoting sustainable development and digital governance.
7.2 Manufacturing
1. What is the current state of the manufacturing sector in India post-2014
3. How has the government promoted manufacturing as part of the Make in India initiative
4. Compare India’s manufacturing competitiveness with that of China and Southeast Asian countries.
5. How can India leverage technology and innovation to boost its manufacturing sector
7.3 Make in India
2. Which sectors have been prioritized under Make in India Why
3. Discuss the key achievements and shortcomings of Make in India since its launch.
4. How has Make in India impacted foreign direct investment (FDI) inflows into India
5. What role do state governments play in the success of Make in India
7.4 Smart Manufacturing: Industry 4.0
1. What is Industry 4.0, and how does it relate to smart manufacturing
2. Discuss the role of artificial intelligence, IoT, and robotics in Industry 4.0.
3. How can India integrate Industry 4.0 technologies into its manufacturing processes
4. What are the challenges faced by Indian industries in adopting smart manufacturing technologies
5. Explain the potential impact of Industry 4.0 on job creation and skill requirements in India.
7.5 Micro, Small, and Medium Enterprises (MSME)
1. Define MSMEs and explain their role in India’s economic development.
2. Discuss the key challenges faced by MSMEs, including access to credit and technology.
3. What are the government’s key schemes for promoting MSMEs post-2014
4. How has the redefinition of MSMEs (2020) impacted their growth and competitiveness
5. Explain the role of MSMEs in export promotion and employment generation in India.
7.6 Index of Industrial Production (IIP) and Core Industries
1. What is the Index of Industrial Production (IIP), and why is it significant for economic analysis
2. What are the eight core industries included in the IIP Why are they considered core
3. Discuss the recent trends in IIP and their implications for industrial growth in India.
4. How do fluctuations in core industries affect overall economic performance
5. What measures can be taken to improve the performance of core industries in India
7.7 Production Linked Incentive Scheme (PLIS)
1. What is the Production Linked Incentive (PLI) Scheme, and what are its objectives
2. Discuss the sectors covered under the PLI scheme and their significance for India’s economy.
3. How has the PLI scheme impacted India’s manufacturing output and exports
4. What are the challenges in the implementation of the PLI scheme
5. How can the PLI scheme contribute to achieving the goals of Aatma Nirbhar Bharat
7.8 Start-ups and Policy Enablers for Innovation
1. What is the significance of start-ups in fostering innovation and economic growth in India
2. Discuss the key initiatives launched by the government to promote start-ups post-2014.
3. Explain the role of Start-up India and its impact on entrepreneurship.
4. How has the regulatory environment for start-ups improved since 2014
5. Discuss the challenges faced by Indian start-ups in scaling operations and accessing funding.
7.9 National Policy for Skill Development and Entrepreneurship
2. Discuss the role of Skill India Mission in enhancing workforce skills.
3. How has the government addressed the skill gap in key sectors of the economy
4. Explain the linkage between skill development and employment generation in India.
5. What are the challenges in implementing skill development programs across rural and urban areas
7.10 Land Banks and National Single Window System (NSWS)
1. What is the concept of land banks, and how do they facilitate industrial development
2. Discuss the significance of the National Single Window System (NSWS) for ease of doing business.
3. How can land banks and NSWS help in addressing challenges in project clearances
4. Explain the impact of NSWS on foreign direct investment (FDI) inflows into India.
5. What are the limitations of the current land acquisition policies in India
7.11 E-Commerce
1. How has the e-commerce sector evolved in India post-2014
2. Discuss the role of government policies in regulating and promoting e-commerce in India.
3. What are the challenges faced by e-commerce players in logistics and taxation
4. How has the growth of e-commerce impacted traditional retail in India
5. Explain the significance of data protection and privacy regulations for e-commerce platforms.
7.12 FDI in Retail
1. What are the current FDI norms in multi-brand and single-brand retail in India
2. Discuss the benefits and challenges of allowing FDI in retail.
3. How has FDI in retail impacted small traders and domestic manufacturers
4. What measures can be taken to balance foreign investment with domestic interests in retail
5. Explain the role of FDI in promoting infrastructure and technology in the retail sector.
7.13 FDI in Insurance
1. Discuss the evolution of FDI limits in the insurance sector in India since 2014.
2. How has increased FDI in insurance contributed to financial inclusion in India
3. What are the challenges faced by the insurance sector in attracting FDI
4. Explain the impact of higher FDI limits on the penetration of insurance products in rural areas.
5. How has the regulatory framework evolved to manage foreign investment in the insurance sector
7.14 Aatma Nirbhar Bharat
1. What is the vision behind the Aatma Nirbhar Bharat initiative
2. Discuss the five pillars of Aatma Nirbhar Bharat and their significance.
3. How has Aatma Nirbhar Bharat impacted domestic manufacturing and exports
4. Explain the role of self-reliance in reducing India’s dependency on imports.
Inclusive Growth and Issues
8.1 Inclusive Growth
1. What is inclusive growth, and why is it important for India’s socio-economic development
2. Discuss the challenges in achieving inclusive growth in India.
3. What are the key components of inclusive growth Explain with examples.
4. How can inclusive growth address issues of poverty and unemployment
8.2 Poverty Estimation in India
1. What are the different methods used to estimate poverty in India
2. Discuss the Tendulkar Committee’s recommendations for poverty estimation.
3. How does the Rangarajan Committee’s methodology differ from earlier poverty estimation methods
4. What are the criticisms of poverty estimation methods in India
5. How do multidimensional poverty indices (MPI) provide a holistic view of poverty
8.3 Demographic Dividend
1. What is the demographic dividend, and how can India benefit from it
2. Discuss the challenges India faces in leveraging its demographic dividend.
3. How does the demographic transition impact economic growth
4. Explain the role of education and skill development in maximizing the demographic dividend.
5. Compare India’s demographic dividend with that of other countries like China.
8.4 Labour Laws in India
1. What are the main labour laws in India, and how do they regulate employment
2. Discuss the significance of the Labour Codes introduced in 2020.
3. How do labour laws impact ease of doing business in India
4. What are the challenges in implementing labour laws in the informal sector
5. How do labour reforms promote worker welfare and industrial growth
8.5 Fixed Term Employment
1. What is fixed-term employment, and how does it differ from permanent employment
2. Discuss the benefits and challenges of fixed-term employment for employers and workers.
3. How does fixed-term employment impact job security and employee benefits
4. Explain the role of fixed-term employment in boosting industrial productivity.
5. Compare fixed-term employment policies in India with global practices.
8.6 Migrant Labour
1. What are the key challenges faced by migrant labourers in India
2. Discuss the impact of the COVID-19 pandemic on migrant labour in India.
3. What are the provisions of the Inter-State Migrant Workmen Act, 1979
5. Explain the significance of portability of welfare benefits for migrant workers.
8.7 Employees’ Provident Fund Organization (EPFO)
1. What is the Employees’ Provident Fund Organization (EPFO), and what are its key functions
2. How does the EPFO promote social security for workers in the organized sector
3. What are the key reforms introduced in EPFO post-2014
4. Discuss the challenges in extending EPFO benefits to informal sector workers.
5. How does the Universal Account Number (UAN) simplify EPFO operations
8.8 National/New Pension System (NPS)
2. Discuss the benefits and challenges of the NPS for government and private sector employees.
3. How does the NPS contribute to financial security post-retirement
4. Compare the Atal Pension Yojana with the NPS in terms of inclusivity and coverage.
5. What reforms can enhance the penetration of the NPS in rural and informal sectors
8.9 Informal and Formal Economy
1. Differentiate between the informal and formal economy with examples.
2. Discuss the challenges in formalizing the informal economy in India.
4. How does the informal economy contribute to employment generation and GDP in India
5. What are the socio-economic implications of a large informal sector
8.10 Unemployment and Its Types
1. What are the different types of unemployment in India Explain with examples.
2. Discuss the causes and consequences of structural unemployment.
3. How does disguised unemployment impact rural economies
4. What is cyclical unemployment, and how does it relate to economic slowdowns
5. Explain the concept of frictional unemployment and its impact on the labour market.
8.11 Underemployment
1. What is underemployment, and how is it different from unemployment
2. Discuss the causes of underemployment in rural and urban areas.
3. How does underemployment affect economic growth and productivity
4. What measures can be taken to address underemployment in India
5. How do MGNREGA and similar schemes help mitigate underemployment
8.12 PLFS and AQEES
1. What is the Periodic Labour Force Survey (PLFS), and how does it measure employment trends
2. Discuss the key findings of the latest PLFS report on employment and unemployment in India.
4. How do these surveys help in policy-making for labour and employment
5. What are the limitations of PLFS and AQEES in accurately capturing employment data
8.13 Rising Income Inequality
1. What are the key reasons for rising income inequality in India
2. How does rising income inequality affect social and economic development
3. Discuss the role of progressive taxation in addressing income inequality.
4. What measures can be taken to reduce the urban-rural divide in income distribution
5. How does inequality intersect with caste, gender, and regional disparities in India
8.14 Poverty Eradication: Public Services or Income Support
2. What are the advantages and disadvantages of direct cash transfers for poverty alleviation
4. What is the role of Universal Basic Income (UBI) in addressing poverty
5. Compare India’s approach to poverty eradication with global best practices.
8.15 Sustainable Development Goals (SDG)
1. What are the 17 Sustainable Development Goals (SDGs) Highlight their importance.
2. Discuss India’s progress on key SDGs such as poverty eradication, education, and health.
3. How do SDGs align with India’s inclusive growth agenda
4. What are the challenges in achieving the SDGs by 2030 in India
5. How can state governments and local bodies contribute to achieving the SDGs
8.16 Socio-Economic Indicators
1. What are the key socio-economic indicators used to measure development in India
3. Discuss the role of gender development and equality as socio-economic indicators.
4. How do economic indicators like GDP and Gini coefficient relate to socio-economic development
5. What measures can improve India’s ranking on international socio-economic indicators
Subsidies
9.1 Introduction
1. What is a subsidy, and why are they implemented by governments
2. Discuss the positive and negative impacts of subsidies on the economy.
3. How do subsidies help in achieving social equity and economic growth
4. Explain the difference between explicit and implicit subsidies with examples.
9.2 Different Ways of Disbursing/Implementing Subsidies
1. What are the different methods of disbursing subsidies Explain each briefly.
2. How does the choice of subsidy delivery mechanism impact efficiency and leakages
3. Compare the effectiveness of in-kind subsidies versus direct cash transfers.
1. What are price subsidies, and how do they benefit consumers and producers
2. Discuss the challenges associated with implementing price subsidies.
3. How do price subsidies impact inflation and fiscal deficit
9.2.2 Direct Benefit Transfer (DBT)
1. What is the Direct Benefit Transfer (DBT) system, and how does it work
2. How has DBT improved the efficiency and transparency of subsidy delivery
3. Discuss the challenges in implementing DBT in rural and underserved areas.
4. What are the major DBT schemes in India
2. Discuss the pros and cons of income support schemes like PM-KISAN.
3. How does income support contribute to poverty alleviation and rural development
9.3 Fuel Subsidies
1. What are fuel subsidies, and why are they important in India
2. Discuss the impact of fuel subsidies on fiscal deficit and trade balance.
3. What measures has the government taken to rationalize fuel subsidies in recent years
4. How does the deregulation of fuel prices affect consumers and the economy
9.4 Fertilizer Subsidies
1. What is the significance of fertilizer subsidies for Indian agriculture
2. Explain the challenges associated with the implementation of fertilizer subsidies.
3. Discuss the role of the Nutrient-Based Subsidy (NBS) scheme in rationalizing fertilizer use.
4. How does the overuse of subsidized fertilizers affect soil health and the environment
9.5 Food Subsidy
1. What is the rationale behind food subsidies in India
2. Discuss the challenges of implementing food subsidies in terms of targeting and delivery.
3. How do food subsidies impact inflation and fiscal discipline
9.5.1 Food Corporation of India (FCI)
1. What is the role of the Food Corporation of India (FCI) in managing food subsidies
2. Discuss the challenges faced by the FCI in terms of storage, procurement, and distribution.
3. How can the efficiency of the FCI be improved to reduce subsidy costs
9.5.2 Public Distribution System (PDS)
1. What is the Public Distribution System (PDS), and how does it function
2. Discuss the challenges faced by the PDS, such as leakages and corruption.
3. How has the introduction of technology, such as Aadhaar, improved the efficiency of the PDS
4. Compare the PDS with DBT in terms of food subsidy delivery.
9.5.3 National Food Security Act (NFSA), 2013
1. What are the key provisions of the National Food Security Act (NFSA), 2013
2. How does the NFSA aim to ensure food security in India
3. Discuss the challenges in implementing the NFSA at the state level.
4. What are the fiscal implications of the NFSA on the central and state governments
9.6 Shanta Kumar Committee Recommendations
1. What were the key recommendations of the Shanta Kumar Committee on food and fertilizer subsidies
2. How do the committee’s recommendations aim to reduce inefficiencies in the PDS and FCI
3. Discuss the proposed reforms in food procurement and storage suggested by the committee.
Agriculture - Part 1
10.1 Introduction
1. What is the significance of agriculture in the Indian economy
2. How does agriculture contribute to GDP, employment, and exports in India
3. Discuss the major challenges faced by Indian agriculture in the 21st century.
10.2 Agriculture in India: A Brief History
2. How did the Green Revolution transform Indian agriculture What were its limitations
3. Discuss the shift in agricultural policies in India post-liberalization.
10.3 Minimum Support Price (MSP)
1. What is the Minimum Support Price (MSP), and how is it determined
2. Discuss the advantages and limitations of MSP in ensuring farmers’ welfare.
3. How does MSP affect market dynamics and crop patterns in India
10.4 PM - AASHA
1. What is the PM-AASHA scheme, and how does it aim to address issues related to MSP
3. What challenges does the PM-AASHA scheme face in its implementation
10.5 PM - KISAN
1. What is the PM-KISAN scheme, and how does it support farmers
2. Discuss the eligibility criteria and benefits under the PM-KISAN scheme.
3. How effective has PM-KISAN been in improving the financial security of farmers
10.6 Agriculture Extension Services
1. What are agriculture extension services, and why are they important for farmers
2. How do agriculture extension services promote technology dissemination and capacity building
3. Discuss the challenges in delivering effective extension services in rural areas.
10.7 Krishi Vigyan Kendras (KVK)
1. What are Krishi Vigyan Kendras (KVKs), and what is their role in agricultural development
2. How do KVKs contribute to research and technology transfer in agriculture
3. Discuss the limitations faced by KVKs in achieving their objectives.
10.8 Farmers Producer Organization (FPO)
2. Discuss the benefits of FPOs in improving market access and income for farmers.
3. What are the key challenges in forming and sustaining FPOs in India
10.9 Marketing of Agricultural Produce
1. What are the key issues in the marketing of agricultural produce in India
2. How can better marketing mechanisms improve farmers’ incomes
10.9.1 Agriculture Produce and Marketing Committee (APMC) Acts
1. What are APMC Acts, and how do they regulate agricultural markets
2. Discuss the limitations of the APMC Acts and their impact on farmers.
3. What reforms have been suggested to address the issues in APMC markets
10.9.2 Electronic National Agriculture Market (e-NAM)
1. What is e-NAM, and how does it aim to transform agricultural marketing in India
2. Discuss the benefits of e-NAM for farmers, traders, and consumers.
3. What are the challenges faced in the implementation of e-NAM
10.9.3 Model Agri Produce and Livestock Marketing Act 2017
1. What are the key provisions of the Model Agri Produce and Livestock Marketing Act, 2017
2. How does the act aim to promote a unified national market for agricultural produce
3. Discuss the limitations in the adoption of this model act by states.
10.10 Contract Farming
1. What is contract farming, and how does it benefit farmers and agribusinesses
2. Discuss the risks and challenges associated with contract farming in India.
3. How does the Model Contract Farming Act, 2018, address these challenges
10.11 Agriculture-Based Clusters
1. What are agriculture-based clusters, and how do they promote agricultural development
2. Discuss the advantages of cluster-based approaches in enhancing productivity and market access.
3. What are the key challenges in implementing agriculture-based clusters in India
10.12 Agriculture Infrastructure Fund
1. What is the Agriculture Infrastructure Fund, and what are its objectives
2. How does this fund aim to improve supply chain infrastructure in agriculture
3. Discuss the challenges in utilizing the Agriculture Infrastructure Fund effectively.
10.13 Animal Husbandry Infrastructure Development Fund
1. What is the Animal Husbandry Infrastructure Development Fund, and why is it significant
2. How does the fund support dairy and livestock farmers
3. Discuss the potential of the fund in enhancing rural livelihoods and exports.
10.14 Pradhan Mantri Fasal Bima Yojana (PMFBY)
1. What are the key features of the Pradhan Mantri Fasal Bima Yojana (PMFBY)
2. How does PMFBY aim to reduce the risk faced by farmers due to crop failure
3. What challenges has PMFBY faced in implementation, and how can they be addressed
10.15 Doubling Farmers’ Income
1. What are the key strategies identified for doubling farmers’ income by 2022
2. Discuss the role of technology, marketing, and infrastructure in achieving this goal.
3. What are the challenges in realizing the objective of doubling farmers’ income
10.16 Agriculture Export Policy 2018
1. What are the objectives of the Agriculture Export Policy 2018
2. How does the policy aim to boost India’s agricultural exports
10.17 A Comparison of Indian Agriculture with China (2018-19)
1. Compare the agricultural productivity and mechanization levels in India and China.
2. How does China’s approach to agricultural marketing and export promotion differ from India’s
3. Discuss the lessons India can learn from China to improve its agricultural performance.
Agriculture - Part 2
11.1 Irrigation in India
1. What is the importance of irrigation in Indian agriculture
4. How does over-irrigation affect soil health and crop productivity
5. Discuss the regional disparities in irrigation coverage across India.
11.2 Farming System and Cropping Pattern in India
1. What are the major farming systems practiced in India Provide examples.
2. Explain the cropping patterns in India, focusing on Kharif, Rabi, and Zaid crops.
3. How do factors like climate, soil, and water availability influence cropping patterns
4. Discuss the role of crop rotation and intercropping in sustainable agriculture.
11.3 Food Systems
1. What constitutes a food system, and why is it important for food security
2. Discuss the challenges in making food systems sustainable in India.
3. How do food systems impact public health, environment, and economic growth
4. What are the key components of a resilient food system
11.4 Animal Husbandry
1. What is the significance of animal husbandry in the Indian agricultural economy
2. Discuss the challenges faced by the livestock sector in India.
3. How does the government promote animal husbandry through schemes like Rashtriya Gokul Mission
4. What are the opportunities for integrating animal husbandry with crop farming
11.5 National Livestock Mission
1. What are the objectives of the National Livestock Mission
2. How does the mission aim to improve livestock productivity and sustainability
11.6 Mission for Integrated Development of Horticulture (MIDH)
2. How does MIDH promote diversification and value addition in agriculture
3. Discuss the challenges in implementing MIDH, particularly for small farmers.
11.7 National Bamboo Mission
1. What are the objectives of the National Bamboo Mission
2. How does the mission aim to promote bamboo-based industries and rural livelihoods
3. Discuss the ecological and economic significance of bamboo cultivation in India.
11.8 Genetically Modified (GM) Crops
1. What are genetically modified (GM) crops, and how are they developed
2. Discuss the advantages and potential risks of GM crops in Indian agriculture.
3. What is the status of GM crop adoption in India Include examples like Bt cotton.
4. How does the regulatory framework in India govern the use of GM crops
11.9 Organic Farming
1. What is organic farming, and how does it differ from conventional farming
2. Discuss the benefits and challenges of organic farming in India.
3. How does the Paramparagat Krishi Vikas Yojana (PKVY) promote organic farming
4. What are the export opportunities for Indian organic produce in global markets
11.10 Zero Budget Natural Farming (ZBNF)
1. What is Zero Budget Natural Farming (ZBNF), and how does it work
2. Discuss the principles and practices of ZBNF, including Jeevamrutha and Beejamrutha.
3. How does ZBNF address the issues of input costs and sustainability in agriculture
4. What are the challenges in scaling up ZBNF practices across India
11.11 Integrated Farming System (IFS)
1. What is the Integrated Farming System (IFS), and how does it promote sustainability
2. Discuss the components of IFS, such as crop-livestock integration.
3. How does IFS contribute to resource efficiency and income diversification for farmers
11.12 Agroecology
1. What is agroecology, and how does it differ from conventional agricultural practices
3. How can agroecological principles be integrated into India’s agricultural policy
11.13 Conservation Agriculture
1. What is conservation agriculture, and why is it important for sustainable farming
3. How does conservation agriculture improve soil health and water-use efficiency
4. What are the challenges in promoting conservation agriculture among Indian farmers
11.14 Protected Cultivation
1. What is protected cultivation, and how does it differ from traditional farming
2. Discuss the advantages of protected cultivation for high-value crops like fruits and vegetables.
3. What are the challenges in adopting protected cultivation practices in India
11.15 Permaculture
1. What is permaculture, and how does it integrate ecological principles into farming
2. Discuss the role of permaculture in promoting self-sufficient and sustainable agriculture.
3. How does permaculture compare with organic farming and ZBNF in terms of long-term sustainability
11.16 Use of Technology in Agriculture
1. How can technologies like Al, IoT, and blockchain transform Indian agriculture
2. Discuss the role of digital platforms like Kisan Suvidha and AgriStack in empowering farmers.
3. How do precision agriculture techniques improve productivity and resource use efficiency
4. What are the challenges in ensuring equitable access to agricultural technology in rural India
Supply Chain and Food Processing Industry
12.1 Supply Chain: An Introduction
1. What is a supply chain, and how does it function in the agricultural and food processing sectors
3. How do inefficiencies in the supply chain impact farmers and consumers in India
5. What are the challenges in building an efficient agricultural supply chain in India
12.2 Food Processing Industry
1. What is the role of the food processing industry in India’s economy
2. Discuss the benefits of food processing for farmers, consumers, and the economy.
3. What are the major challenges faced by the food processing industry in India
4. How does the food processing industry contribute to employment generation and export promotion
5. Discuss the role of mega food parks and integrated cold chains in promoting food processing.
12.3 Essential Commodities Act, 1955
1. What is the Essential Commodities Act, 1955, and what are its key provisions
2. How does the Act aim to prevent hoarding and ensure price stability
12.4 Supply Chain Schemes
12.4.1 Price Stabilization Fund (PSF)
2. Discuss the implementation and challenges of the PSF in maintaining price stability.
3. How does the PSF benefit both consumers and farmers during price fluctuations
1. What is the Pradhan Mantri Kisan Sampada Yojana (SAMPADA), and what are its key objectives
2. How does SAMPADA promote food processing and reduce post-harvest losses
3. Discuss the impact of SAMPADA on value addition in agricultural produce.
12.4.3 PM Matsya Sampada Yojana (PMMSY)
1. What are the objectives of the PM Matsya Sampada Yojana (PMMSY)
2. How does PMMSY aim to enhance fish production and infrastructure
3. Discuss the challenges in implementing PMMSY, particularly in coastal and inland regions.
12.4.4 Formalization of Micro Food Processing Enterprises Scheme
1. What is the significance of the Formalization of Micro Food Processing Enterprises Scheme
2. How does this scheme support small-scale food processing units
2. Discuss the scope of Operation Greens in addressing supply chain issues for perishable goods.
3. How has Operation Greens been expanded to include other crops, and what has been its impact
12.5 Supply Chain Infrastructure for Food Processing Industry
1. Why is infrastructure development critical for the food processing supply chain
3. How do mega food parks and agri-export zones contribute to supply chain efficiency
12.6 Warehouse Receipts
1. What are warehouse receipts, and how do they facilitate agricultural marketing
4. What are the challenges in the implementation of the warehouse receipt system in India
12.7 FSS Act 2006 and FSSAI
1. What is the Food Safety and Standards (FSS) Act, 2006, and what are its key objectives
3. How do the provisions of the FSS Act regulate the food processing industry
4. What are the challenges in implementing food safety standards across India
5. How does FSSAI ensure compliance with global food safety standards for exports
International Organisations
13.1 Bretton Woods Conference
1. What was the Bretton Woods Conference, and why was it convened
2. Discuss the major outcomes of the Bretton Woods Conference.
3. How did the Bretton Woods system shape the post-World War II global economy
4. Explain the roles assigned to the IMF and World Bank under the Bretton Woods Agreement.
13.2 General Agreement on Tariffs and Trade (GATT) 1947
1. What was the purpose of GATT, and how did it function as a trade framework
2. Discuss the limitations of GATT that led to the establishment of the WTO.
3. Explain the significance of the Uruguay Round of negotiations under GATT.
13.3 WTO Agreements
1. What are the primary agreements under the World Trade Organization (WTO)
3. Explain the importance of the Agreement on Trade-Related Investment Measures (TRIMS).
13.4 Principles of WTO Trade
2. How do these principles promote free and fair trade among member nations
3. Discuss the criticisms of WTO principles in addressing the concerns of developing countries.
13.5 Other Agreements on Goods Trade
13.5.1 Sanitary and Phytosanitary (SPS) Measures
1. What are Sanitary and Phytosanitary (SPS) measures, and why are they significant
2. How do SPS measures protect human, animal, and plant health in international trade
3. Discuss the challenges faced by developing countries in meeting SPS standards.
13.5.2 Agreement on Agriculture (AoA)
1. What are the key provisions of the Agreement on Agriculture (AoA) under the WTO
2. Explain the significance of domestic support, export subsidies, and market access in the AoA.
3. How does the AoA impact India’s agricultural subsidies and policies
13.5.3 Information Technology Agreement (ITA)
2. Discuss the implications of ITA membership for India’s IT sector.
13.6 Trade-Related Investment Measures (TRIMS)
1. What is the Trade-Related Investment Measures (TRIMS) agreement, and why was it introduced
2. How does TRIMS aim to ensure fair trade practices related to foreign investments
3. Discuss the implications of TRIMS for India’s domestic investment policies.
13.7 General Agreement on Trade in Services (GATS)
1. What is the General Agreement on Trade in Services (GATS), and what sectors does it cover
2. Discuss the role of GATS in liberalizing the global trade in services.
3. How has India benefited from GATS in sectors like IT and outsourcing
13.8 Intellectual Property Rights (IPR)
1. What are Intellectual Property Rights (IPR), and why are they significant for economic growth
2. Discuss the role of IPR in innovation and protecting creators’ rights.
3. How does IPR enforcement vary between developed and developing nations
13.9 Trade-Related Aspects of Intellectual Property Rights (TRIPS)
1. What are the key provisions of the TRIPS agreement under the WTO
2. How does TRIPS address issues related to patents, copyrights, and trademarks
3. Discuss the implications of TRIPS for India’s pharmaceutical industry.
13.10 Generic Drugs and Compulsory Licenses
1. What are generic drugs, and why are they important for public health
2. Explain the concept of compulsory licenses under the TRIPS agreement.
3. Discuss the impact of India’s compulsory licensing policies on access to affordable medicines.
13.11 National Intellectual Property Rights Policy 2016
1. What are the objectives of India’s National Intellectual Property Rights Policy 2016
2. How does the policy aim to strengthen IPR enforcement and awareness in India
3. Discuss the challenges in implementing the IPR policy in India.
13.12 WTO - Doha Development Agenda
1. What is the Doha Development Agenda, and why was it launched
2. Discuss the main issues under negotiation in the Doha Round.
3. Why has the Doha Round faced challenges in reaching a consensus among member countries
13.13 Free Trade Agreements (FTAs) and RCEP
1. What are Free Trade Agreements (FTAs), and how do they differ from multilateral trade agreements
3. Why did India opt out of the RCEP, and what were the key concerns
13.14 International Monetary Fund (IMF) and World Bank
1. What are the roles and objectives of the IMF and World Bank in the global economy
2. How does the IMF assist member countries during balance of payments crises
3. Discuss the criticisms of IMF and World Bank policies in developing countries.
13.15 Asian Infrastructure and Investment Bank (AIIB)
1. What is the Asian Infrastructure and Investment Bank (AIIB), and what are its objectives
2. How does AIIB differ from traditional institutions like the World Bank
3. Discuss India’s role and projects funded by AIIB.
13.16 New Development Bank (NDB) / BRICS Bank
1. What is the New Development Bank (NDB), and why was it established by BRICS nations
2. How does the NDB aim to complement existing global financial institutions
3. Discuss the role of the NDB in funding infrastructure projects in BRICS countries.
13.17 Previous Years Questions
2. Gold Tranche (Reserve Tranche) refers to
3. What is Trade-Related Investment Measures (TRIMS)
5. What are the criticisms of the WTO in addressing the concerns of developing nations (2018)
6. How does the TRIPS agreement under WTO impact India’s pharmaceutical sector (2020)
8. How does compulsory licensing under TRIPS balance public health and IPR protection (2019)
9. Explain the significance of Free Trade Agreements (FTAs) for India’s trade policy. (2016)
10. Compare and contrast the roles of IMF and World Bank in global financial governance. (2015)
Infrastructure and Investment Models
14.1 Infrastructure Development: An Introduction
1. Why is infrastructure development critical for economic growth in India
2. Discuss the key challenges in infrastructure development, including funding and implementation.
3. What are the major sectors included under infrastructure in India
14.2 Public-Private Partnership (PPP)
1. What is a Public-Private Partnership (PPP), and how does it work
2. Discuss the advantages and challenges of the PPP model in infrastructure development.
3. Explain different types of PPP models, such as BOT, BOOT, and DBFO.
14.3 Investment Models in Infrastructure
1. What are the major investment models used in infrastructure development in India
3. How do investment models ensure risk-sharing between stakeholders
14.4 Road Sector
1. Discuss the significance of the road sector in India’s economic development.
2. What are the challenges in the development and maintenance of roads in India
3. Explain the role of flagship programs like Bharatmala Pariyojana in road infrastructure.
14.5 Railways
14.5.1 Engine of Future Economic Growth
1. How can Indian Railways act as an engine of future economic growth
2. Discuss the modernization initiatives undertaken by Indian Railways.
14.5.2 High-Speed Rail (HSR)Bullet Trains in India
1. What are the advantages of High-Speed Rail (HSR) for India
2. Discuss the progress and challenges in implementing the Mumbai-Ahmedabad bullet train project.
14.5.3 Dedicated Freight Corridors (DFCs)
1. What are Dedicated Freight Corridors (DFCs), and why are they significant for India
2. Explain the economic and logistical benefits of DFCs for trade and industry.
14.5.4 Railway Platform Modernization
2. What are the key initiatives under railway platform modernization
14.5.5 Rail Development Authority (RDA)
1. What is the Rail Development Authority (RDA), and what are its functions
2. How can the RDA promote competition and efficiency in the railway sector
14.6 Industrial Corridors
1. What are industrial corridors, and how do they boost manufacturing and trade
2. Discuss the objectives and progress of the Delhi-Mumbai Industrial Corridor (DMIC).
3. How do industrial corridors contribute to regional development
14.7 Special Economic Zones (SEZ)
1. What are Special Economic Zones (SEZ), and how do they promote exports
2. Discuss the challenges faced by SEZs in India.
3. Compare SEZs with industrial corridors in terms of objectives and outcomes.
14.8 SAGARMALA, CEZ, and Ports
1. What is the SAGARMALA project, and how does it aim to improve port-led development
2. Explain the role of Coastal Economic Zones (CEZ) under the SAGARMALA initiative.
3. Discuss the challenges in modernizing India’s port infrastructure.
14.9 Airports
1. How does airport infrastructure contribute to economic growth and connectivity
2. Discuss the role of the UDAN scheme in improving regional air connectivity.
3. What are the challenges in privatizing airport operations in India
14.10 Multi-Modal Logistics Park
1. What is a Multi-Modal Logistics Park (MMLP), and how does it improve supply chain efficiency
2. Discuss the significance of MMLPs for reducing logistics costs in India.
14.11 Coal, Coal Mines Act 2015, and MMDR Act 2015
1. Discuss the key provisions of the Coal Mines (Special Provisions) Act, 2015.
3. What are the challenges in achieving sustainable coal mining in India
14.12 Power Sector
1. What are the major challenges in India’s power sector
2. Discuss the role of renewable energy in transforming India’s power sector.
3. How do schemes like UDAY and Saubhagya aim to improve power sector efficiency
14.13 Oil and Gas Sector
1. What is the significance of the oil and gas sector for India’s energy security
2. Discuss the challenges faced by the oil and gas sector in exploration and production.
14.14 The Real Estate Act 2016
1. What are the key provisions of the Real Estate (Regulation and Development) Act, 2016
2. How does RERA aim to protect the interests of homebuyers
3. Discuss the impact of RERA on transparency and accountability in the real estate sector.
14.15 Smart Cities and AMRUT
1. What is the Smart Cities Mission, and how does it aim to transform urban infrastructure
3. How can smart cities contribute to sustainable urban development
14.16 Value Capture Finance (VCF)
1. What is Value Capture Finance (VCF), and how does it work
2. Discuss the role of VCF in financing urban infrastructure projects.
3. What are the challenges in implementing VCF in India
14.17 InviTs, REITs, and NIF
1. What are Infrastructure Investment Trusts (InviTs) and Real Estate Investment Trusts (REITs)
2. Discuss the advantages of InviTs and REITs for infrastructure financing.
3. How does the National Investment Fund (NIF) promote infrastructure development
14.18 National Infrastructure Pipeline (NIP)
1. What is the National Infrastructure Pipeline (NIP), and what are its objectives
2. How does NIP aim to bridge India’s infrastructure gap
3. Discuss the challenges in achieving the investment targets under NIP.
14.19 National Monetization Pipeline (NMP)
1. What is the National Monetization Pipeline (NMP), and how does it work
2. Discuss the potential benefits and risks of NMP for infrastructure financing.
3. How does NMP align with India’s infrastructure development goals
14.20 PM Gati Shakti
1. What is PM Gati Shakti, and how does it aim to transform logistics infrastructure
2. Discuss the significance of the PM Gati Shakti Master Plan for multi-modal connectivity.
3. How can Gati Shakti address the challenges of supply chain inefficiencies
14.21 National Logistics Policy 2022
1. What are the key objectives of the National Logistics Policy 2022
2. How does the policy aim to reduce logistics costs and improve efficiency
3. Discuss the role of the National Logistics Policy in enhancing India’s trade competitiveness.
Budget and Economic Survey
15.1 Budget (2023-24) Highlights
2. How does the budget propose to boost capital expenditure and infrastructure development
4. How does the budget address issues related to green growth and sustainable development
15.2 Economic Survey 2022-23
1. What are the major global and domestic challenges highlighted in the Economic Survey 2022-23
2. How does the Economic Survey characterize India’s economic recovery and future growth prospects
Key Economic Terms
- Absolute Poverty: Fixed standard of living below which individuals cannot meet basic needs.
- Agglomeration Economy: Benefits from industries clustering together, like cost savings.
- Algorithmic Trading: Automated trading using predefined computer algorithms.
- Alternative Investment Fund (AIF): Privately pooled funds regulated by SEBI for high-return investments.
- Anchor Investor: Institutional investor subscribing to shares before an IPO to boost confidence.
- Angel Investor: Individual investing in startups, often in early stages, with high risk.
- Asset Liability Mismatch: When liabilities (e.g., deposits) and assets (e.g., loans) have mismatched maturities.
Financial and Banking Terms
- Balance Sheet Recession: Economic slowdown due to entities prioritizing debt repayment over spending.
- Bail-In and Bail-Out: Bail-in: Losses imposed on creditors; Bail-out: External rescue, often by governments.
- Cash-Deposit Ratio: Ratio of cash in banks and RBI balances to total deposits.
- Circular Economy: A regenerative economic system aiming to minimize waste and reuse resources.
- Core Inflation: Inflation excluding volatile items like food and fuel for stability analysis.
- Debt Overhang: High debt discouraging further borrowing and investment.
- Deleveraging: Reducing debt, often by selling assets.
- Digital Banking Units (DBUs): Paperless banking units offering digital services.
Trade and Taxation Terms
- Cross-Subsidization: Funding one product/service using profits from another.
- Fiscal Drag: Higher taxes due to inflation pushing incomes into higher brackets.
- Gig Economy: Workforce dominated by freelance and short-term contract work.
- Hot Money: Rapid capital flows seeking higher short-term returns.
- Insurance Penetration and Density: Penetration is the premium-to-GDP ratio; density is per capita premium.
- Investment Multiplier: Ratio of GDP increase to investment amount.
Market and Policy Terms
- Invisible Hand: Adam Smith’s concept of self-regulating market forces.
- Laffer Curve: Shows tax rate vs. tax revenue; beyond a point, higher rates reduce revenue.
- Market Failure: Inefficient resource allocation leading to poor outcomes for society.
- Provisioning: Reserve funds set aside by banks against loans.
Infrastructure and Development
- Overhead Capital: Long-term investments in public goods like infrastructure and education.
- Public Float: Percentage of a company’s shares available for public trading.
- Pump Priming: Government spending to boost economic activity during downturns.
- Skewflation: Inflation affecting only specific sectors of the economy.
International Trade and Monetary Policy
- Terms of Trade (ToT): Ratio of export price index to import price index.
- Trickle-Down Effect: Benefits for the wealthy eventually benefiting all economic classes.
- Velocity of Money: Frequency of money turnover in the economy, reflecting liquidity.
Inflation Types
- Creeping Inflation: Slow, safe inflation under 3%.
- Walking Inflation: Moderate inflation (3%–10%) needing government control.
- Wage Inflation: Price rises driven by increased wages.
Other Notable Terms
- Withholding Tax: Tax deducted at the source before income is paid.
- Zombie Firms: Companies unable to cover interest payments, reliant on external support.