📊 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.

73Topics 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.

73 topics

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Fundamentals of Economics 17

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 Gross Domestic Product (GDP) vs Gross National Product (GNP) Methods of GDP Calculation: Income, Expenditure & Product Method Domestic Territory ( Economic Territory ) National Income Accounting: GDP, GNP, NNP, PI and PDI Factor Cost, Basic Prices and Market Prices Capital Output Ratio and Incremental Capital Output Ratio (ICOR) Nominal GDP and Real GDP Recession and Slowdown

Fiscal Policy, Budgeting & Deficits 5

Fiscal Policy, Budgeting & Deficits

Fiscal Policy Deficit Financing Budget Classification Public Debt Government Deficits

Money and Monetary Policy 10

Money and Monetary Policy

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

Financial Markets 8

Financial Markets

Financial Market: Capital Market & Money Market Money Market Government Securities Inter-Corporate Deposits (ICDs) Alternative Investment Funds (AIF) Mutual Funds Real Estate Investment Trusts (REITs) Infrastructure Investment Trust (InvITs)

Fundamentals of Economics

17 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

Gross Domestic Product (GDP) vs Gross National Product (GNP)

Methods of GDP Calculation: Income, Expenditure & Product Method

Domestic Territory ( Economic Territory )

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

Factor Cost, Basic Prices and Market Prices

Capital Output Ratio and Incremental Capital Output Ratio (ICOR)

Nominal GDP and Real GDP

Recession and Slowdown

Fiscal Policy, Budgeting & Deficits

Fiscal Policy

Deficit Financing

Budget Classification

Public Debt

Government Deficits

Money and Monetary Policy

Money, Money Supply & Monetary Aggregates

RBI and its Functions

Monetary Policy

Monetary Policy Framework Agreement

RBI’s Income & Surplus Distribution

Seigniorage

Central Bank Digital Currency (CBDC) — Digital Rupee

Demonetisation

Financial Stability Board (FSB)

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

Financial Markets

Financial Market

Money Market

Government Securities

Inter-Corporate Deposits (ICDs)

Alternative Investment Funds (AIF)

Mutual Funds

Economy Notes for
UPSC Preparation

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