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Economic Notes for UPSC 2024 Exam

Last Updated : 12 Jan, 2024
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Indian Economics Notes for UPSC: If you are preparing for the UPSC civil services exam, you would be aware that economics is an inevitable section of the UPSC syllabus – both for the IAS UPSC prelims and the mains. It is also available as an optional subject in the UPSC main exams. This article discusses the Indian Economy Notes for UPSC Prelims exam, UPSC Mains exam, and General Studies economics topics. GeeksforGeeks has brought Important Notes on Economics with the UPSC Economics Syllabus that will help the aspirants to prepare themself for the UPSC Prelims and Mains exam 2024 as well as the optional Indian Economic Papers.

Economics Notes for UPSC Exam

Economics Notes For UPSC Exam 2024

Most Important UPSC Economics Notes for UPSC Exam

Economic growth and development, finance, banking, budget, the balance of payments, poverty and related issues, population composition and related characteristics, social sector initiatives related to education, health, and sanitation, and international financial institutions are some of the important notes in economics for UPSC 2023 Prelims and Mains covered in this article.

UPSC Prelims Syllabus of Economics

Important areas to focus on in the UPSC economy Prelims syllabus:

  • Economic growth and development – basic concept and definition of economy and economics, use and transfer of resources, distributive effects, macro, and microeconomic policy, micro-macro balance, the distributive impact of economic policies, development versus growth, determinant of growth and development, concepts such as HPI/MPI, HDI, PQLI, GEM, GDI/GII, TAI, Green index, sustainable development, India’s ranking in the various indices.
  • Poverty – definitions, causes, distribution-deprivation, income versus calories, measurement of poverty, the status of poverty, eradication programmes, poverty and resource policy, tribal rights and issues, livelihood mission.
  • Inclusion – definition, relevance, types, financial inclusion, recent initiatives.
  • Demographics – census data, populations by gender, state, age group, socio-economic status, caste, religion, literacy levels, etc. Trends in human development – interstate comparison, etc.
  • Fiscal policy – definition, component, receipts, revenue and capital account, tax revenue, expenditure, budget.
  • Social issues – financing health policy, education policy, sanitation, drinking water, social security, infrastructure policy, international trade issues, regional cooperation.

Also, focus on issues currently in news related to the above topics – MNERGS, MSMEs, Make in India, industrial corridors, NITI Aayog, black money, international treaties and organizations, and India’s policies with neighbors.

Indian Economy Syllabus for UPSC Mains

UPSC Economics syllabus for mains is included in the General Studies Paper III which contains the topic Economic Development. Focus on these areas to ace the UPSC Mains exam. 

Tips to Prepare Economy for UPSC Prelims & Mains

Suggested books to read for economics topics of General Studies Paper III:

  • NCERT textbook classes X, XI, XII
  • Ministry websites of water, power, etc.
  • Economic Survey
  • Budgets
  • Administrative Reforms Commissions (ARC) Reports
  • PIB
  • Newspapers

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