📊 Indian Economy

Economy Notes for
UPSC Preparation

Crisp, exam-focused notes on Fiscal Policy, Banking, Monetary Policy, Taxation, Inflation & more — covering the full static Economy syllabus for Prelims.

59Topics covered

12–16Qs in Prelims

PYQTrend focused

✏️ Economy practice · Sample question Free

The repo rate is the rate at which the RBI lends money to:

A The general public

B Commercial banks

C Foreign governments

D State governments

💡 Correct: B — Commercial banks. The repo rate (repurchase rate) is the rate at which RBI lends short-term money to commercial banks against government securities.

59 topics

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Fundamentals of Economics 11

Fundamentals of Economics

Economic Systems Mixed Economy Capitalist / Market Economy Socialist Economy Four Sectors of Economy Types of Goods Factors of Production Sectors of Economy Investment, Gross Capital Formation and Net Investment National Income Accounting: GDP, GNP, NNP, PI and PDI Factor Cost, Basic Prices and Market Prices

Fiscal Policy, Budgeting & Deficits 5

Fiscal Policy, Budgeting & Deficits

Fiscal Policy Deficit Financing Budget Classification Public Debt Government Deficits

Monetary Policy 10

Monetary Policy

Monetary Policy RBI and its Functions Money Supply & Monetary Aggregates Monetary Policy Framework Agreement RBI Income & Surplus Distribution CBDC — Digital Rupee Seigniorage Demonetisation Financial Stability Board (FSB) FSDC

Banking 13

Banking

History of Indian Banking India’s Banking & Financial Architecture All India Financial Institutions NABARD NaBFID D-SIBs Regional Rural Banks National Housing Bank (NHB) MUDRA NBFC +3 more topics →

Taxation 13

Taxation

Taxation: Objectives, Types, Challenges Direct and Indirect Taxes GST GST Council GST 2.0 Reforms Income-Tax Act 2025 Direct Tax Code (DTC) Laffer Curve +5 more topics →

Inflation 7

Inflation

Inflation Inflation Measures — CPI, WPI, PPI Consumer Price Index (CPI) Wholesale Price Index (WPI) WPI vs CPI GDP Deflator Phillips Curve

Fundamentals of Economics

11 topics

Economic Systems

Notes live

Indian Economy Notes for UPSC

Economy Notes forUPSC Preparation

Fundamentals of Economics

Economic Systems

Mixed Economy

Capitalist Economy / Market Economy

Socialist Economy (Planned Economy)

Four Sectors of an Economy: Household, Private, Government and External Sector

Types of Goods

Factors of Production

Sectors of Economy: Primary, Secondary, Tertiary, Quaternary and Quinary

Investment, Gross Capital Formation and Net Investment

National Income Accounting: GDP, GNP, NNP, PI and PDI

Factor Cost, Basic Prices and Market Prices

Fiscal Policy, Budgeting & Deficits

Fiscal Policy

Deficit Financing

Budget Classification

Public Debt

Government Deficits

Monetary Policy

Monetary Policy

RBI and its Functions

Money, Money Supply & Monetary Aggregates

Monetary Policy Framework Agreement

RBI’s Income & Surplus Distribution

Central Bank Digital Currency (CBDC) — Digital Rupee

Seigniorage

Financial Stability Board (FSB)

Demonetisation

Financial Stability and Development Council (FSDC)

Banking

History of Indian Banking

Overview of India’s Banking & Financial Architecture

All India Financial Institutions

NABARD

National Bank for Financing Infrastructure & Development (NaBFID)

Domestic Systemically Important Banks (D-SIBs)

Regional Rural Banks (RRBs)

National Housing Bank (NHB)

MUDRA

Non-Banking Financial Company (NBFC)

Small Industries Development Bank of India (SIDBI)

Export-Import Bank of India (EXIM Bank)

Base Rate, MCLR and External Benchmark Rate

Taxation

Understanding Taxation: Objectives, Types, Challenges

Inverted Duty Structure

Direct and Indirect Taxes in India

Tax Expenditure

Direct Tax Code (DTC)

Base Erosion and Profit Shifting (BEPS)

Transfer Pricing & Advance Pricing Agreements

Some Tax Related Terms

Income-Tax Act, 2025

Goods and Services Tax (GST)

Laffer Curve

GST 2.0 Reforms

GST Council

Inflation

Inflation

Understanding Inflation Measures — CPI, WPI, PPI

Consumer Price Index (CPI)

Wholesale Price Index (WPI)

WPI vs CPI

GDP Deflator

Phillips Curve

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Economy Notes for
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