Economics Notes for UPSC 2023 ExamReadDiscussCoursesPracticeImprove Article ImproveSave Article SaveLike Article LikeEconomics 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 UPSC Mains, UPSC prelims, and General Studies economics important topics. GeeksforGeeks has brought Important Notes on Economics that can solve all your queries in the Economic subject.Economics Notes For UPSC ExamImportance History Notes for UPSCImportance Geography Notes for UPSCImportance Ethics Notes for UPSCImportance Polity Notes for UPSCImportance Science & Technology Notes for UPSCPrevious Year’s Papers of UPSCMost Important Economics Notes for UPSC ExamEconomic 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.Overview Of Indian Financial SystemBlue BondsSEBI – Objectives, Structure, and FunctionsSIDBI and its FunctionsKhadi and Village Industries CommissionPrimary Agricultural Credit Societies (PACS)Toy Industry in India and its FutureConcept of ‘Greenwashing’Impact of GST on InflationImportance of Public Investment for India’s Economic GrowthPink Revolution in the Food Processing IndustriesEnvironmental Impact AssessmentFirst Five-Year Plan: Objective and AssessmentCauses Of Rupee Falling Against US Dollar And Its EffectLivestock Insurance SchemePlan Holiday of Five Years PlanFive-Year Plan Related To Blue RevolutionImpact of Digital India Programme on the EconomyArmed Forces Special Powers Act 1958 (AFSPA)GST Revenue CollectionRight To Information (Amendment) Bill 2019Net Non-Performing Assets Ratio (NNPA)Main Objective Of The Fifth Five-Year PlanFourth Five-Year Plan: Self-RelianceNational Family Health Survey (NFHS-1 to NFHS-5)Dichotomy of DevelopmentNational Translation MissionThe Tea Board of IndiaRBI And Its FunctionsTertiary Sector And Its PotentialThe National Cyber Security Policy, 2013New Urea Policy 2015Climate Action TrackerSurrogacy (Regulation) Bill, 2020 IndiaMiyawaki MethodWardha Scheme of Basic Education 1937Fractional Orbital Bombardment SystemCauses of Inflation and Who get Benefits from it?Coal Controller OrganizationNational Family Health Survey-5Cartagena ProtocolMetal Industry: Current Outlook And FutureTypes of TaxesWhat is Food Subsidy?Discuss Supply and Demand Reversal Of Environmental ResourcesOfficial Reserve TransactionsFactors Affecting Agriculture In IndiaRole Of Rice In Boosting NourishmentInternational Bank of Reconstruction and Development (IBRD)Types of InflationAgricultural Produce Market Committee (APMC)Feminization Of AgricultureSpecial Economic Zone (SEZ)Objectives And Principles Of TaxationRole Of Public Sector In Industrial Development During Planning DecadesDirect And Indirect Farm Subsidies And MSPLabour Regulations And Its Effects In IndiaForeign Direct InvestmentRegional Rural Banks in IndiaImpact of Repo Rate and Reverse Repo Rate on EconomyNew Industrial Policy 1991Govt’s Efforts to Improve Widening of Tax BaseFood Processing in India: Scope and SignificanceLiberalization of Foreign TradeInvestment in Infrastructure is Essential for Rapid and Inclusive Economic GrowthLink Between the Economy and the Environment of a CountryMoney Laundering: Problem and PreventionRole of Energy for Economic DevelopmentBroad Money and Narrow MoneyCapitalist and Socialist Economic SystemsInclusive Growth of IndiaPublic-Private Partnership For Inclusive GrowthDifference and Relationship Between Foreign Trade and Foreign InvestmentImportance of Efficient and Affordable Urban Mass TransportEffect of Autonomous Change in Aggregate Demand on Income and OutputChallenges of Power Sector of IndiaRegional Resource-Based ManufacturingChallenges For Indian Women Against Time and SpaceIndustrial Corridors in IndiaNational Population Policy 2000Minimum Support Price (MSP)Govt’s Initiatives to Make Food Grain Distribution System More EffectiveDifference Between NITI Aayog and Planning CommissionRole of Cooperatives in Food SecurityRole of Self-Help Groups in Poverty AlleviationRole of Foreign Exchange Market in IndiaEx-Ante and Ex-Post InvestmentPotential GDP and its Determinants and FactorsRole of Supermarkets in the Supply Chain ManagementOpen Economy Autonomous Expenditure Multiplier Smaller than Closed EconomyEducated Unemployed – A Peculiar Problem of IndiaTypes of Expenditure in BudgetRole of Micro-Credit in Meeting the Credit Requirements of the PoorWomen’s Health is a Matter of Great Concern in IndiaHow Health is Related to the Overall Growth and Development of India?Main Characteristics of Capitalist EconomyStrategies to Improve Health Facility in IndiaMicroeconomics and MacroeconomicsLegal Measures Taken by Government to Empower ConsumersNon-Farming Production Activities and Their Impact on EconomyMarginal Propensity to Consume and Save – Definition & RelationImpact of Natural Disasters on Food SupplyEffects of UnderemploymentDiversification Towards Animal Husbandry, Fisheries and HorticultureQuality of PopulationTrade and Investment Policy Reforms Since 1991Importance of Increasing Area Under Irrigation in IndiaPolicy Tools to Control Money SupplyTypes of Receipts of Union BudgetObjectives of Government BudgetScope and Future of Organic Farming With Sustainable DevelopmentHow to Protect Workers in the Unorganized Sector?What is Buffer Stock and its Impact on the Rationing System of India?Types of Loans People Obtain From Various SourcesFuture Perspective For Non-Conventional Sources of Energy In IndiaActivities of 3 Main Sectors of the Indian EconomyPros and Cons of GlobalizationFactors Caused For Rapid Growth in Economic Development in ChinaHow Public Sector Contributes to the Economic Development of a Nation?Why Modern Farming Methods Required More Inputs?4 Major Sectors of an EconomyEconomic Reforms in India in the Light of Social Justice and WelfareAchievements of India’s Industrial Sector Between 1950-1990Role of Service Sector in Modern Economic Development of IndiaPopulation as an Asset for the Economy Rather Than a LiabilityDeindustrialization in India Before 1947 and its ImpactWorld Climate Research ProgrammeMining Sector In India And Its ChallengesIndia State of Forest Report (ISFR) 2021Agricultural Revolutions Of IndiaEnvironmental and Health Impact of Fly ashDepartment of Economic and Social AffairsRatan P Watal CommitteeForeign Portfolio InvestmentTrade and Development Report 2022Achievement of Ayushman BharatShrinkflationNational Logistics Policy 2022China’s Poverty Alleviation ProgrammesLabour Reforms and IssuesConsequences of Declining FertilityPRASHAD SchemeShanghai Cooperation OrganisationFood Safety and Standards Authority of IndiaPublic Provident FundNon-Aligned MovementAajeevikaSocial Entrepreneurship in IndiaRubber IndustryDirect Benefit TransferPer Capita Income: Uses And LimitationsWindfall TaxImportance of Niti Aayog in IndiaThe Role of Trade Union in IndiaTrade Unions in IndiaNational Education Policy 2020Effects of Globalisation on Indian SocietyAccelerate Vigyan ProgrammeMarshallian Approach to Price DeterminationBIMSTEC and SAARCDigital Lending and its RegulationConstruction and Demolition Waste ManagementUltra Poverty in IndiaUniversal Basic IncomeRefugee Crisis in IndiaOpen Network for Digital Commerce (ONDC)Eastern Economic ForumGovernment Securities Acquisition Program (G-SAP)Old Tax Regime Vs New Tax RegimeLabor Unions in IndiaMovement of the Working Class in the Pre-Independence of IndiaOperation TwistAgriTech Summit 2022Trade Union Legislation of IndiaGreen HydrogenMicro Irrigation FundInitiatives for Rural WomenMoU for Multi Modal Logistics Park (MMLP)Basel NormsInitiatives taken by Central Govt. to Improve the Quality of Education in IndiaBuoyancy in Direct Tax CollectionNarcotic Drugs and Psychotropic Substances (NDPS) ActGreen EconomyFinancial Stability and Development Council (FSDC)National Pharmaceutical Pricing Authority (NPPA)Absolute and Relative PovertyDevelopment of Enterprise and Service Hubs Bill (DESH), 2022Small Savings InstrumentsBad BankFiscal Responsibility and Budget Management (FRBM) ActPM Cares FundRBI – Digital Payments IndexNational Pension SystemThe Gandhian Model of Development -Five Year PlanImportance of Five Year Plan in IndiaBoosting Infrastructure of Rural IndiaBank Board Bureau (BBB) and Financial Services Institutions Bureau (FSIB)Unified Payments Interface (UPI) and its ChallengesNational Intellectual Property Awareness Mission (NIPAM)Freebies vs Welfare Schemes and its Impact on EconomyImportant Aspects Of International TradeAgritourism and its Future in IndiaNominal and Real Effective Exchange RatesIndia’s Unique Job CrisisAgri-Food TechnologySocial Media AccountabilityCurrency Management by Reserve Bank of India (RBI)Caste-based MGNREGA Wages PaymentEconomic Condition and Planning After IndependencePrevention of Money Laundering Act 2002Inflation Indexed BondsRapid Financing Instrument and Rapid Credit FacilityCooperatives on Government e-Marketplace (GeM)World Population Report 2022Green Revolution Krishonnati YojanaTwin Balance Sheet ProblemFive Year Plan And A Socialistic Pattern Of SocietyEnhanced Access and Service Excellence (EASE) ProgramAutomobile Industry in IndiaEquality vs. EquityTop 10 Most Tradable CurrenciesWhat is Fiscal Policy: Meaning, Instruments, Tools, & ExamplesFederal Income Tax Brackets For Year (2022-2023)What is Hyperinflation? Causes, Effects with ExamplesBusiness Cycle: What It Means, How to Measure, Its 4 PhasesRecession: What it is and causes it?Nominal vs Real Interest RatesWhat is Net Worth?What is an Asset? Definition, Types, and ExamplesWhat Is Gross National Income (GNI)? Definition and ExamplesWhat is Equity? How It Works, How to Calculate It, TypesImperialism: Definition, History, Types, & ExamplesCustomer Behavior for MarketingReturn on Investment (ROI)What is a Traditional Economy?What is REPO Rate? – Current Repo RateWhat Is a Good Credit Score?Opportunity CostWhat is bitcoin mining? How does it work?Life Insurance: Its Types & BenefitsTop 10 Largest Economies in the WorldWhat is an IPO and How it WorksWhat is NFT and How it Works?Economic InequalitySurge in Direct Tax Collections and Tax ElasticityFarmers’ Suicides in India – Reasons and ResponsesUrbanization: Cause and EffectSubsidy: Meaning, Types, Categories and Benefits of the SubsidyNational Cooperation PolicyRashtriya Poshan MaahCity Gas Distribution Network of IndiaBaal Aadhaar InitiativeMonoculture PlantationEco Mark : Bureau of Indian StandardsSemiconductor Mission of IndiaDigital AgriStackMovement of the Working Class in IndiaAtmanirbhar in DefencePrelims Syllabus of Economics for UPSC ExamImportant 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 MainsUPSC 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. Indian Economy and issues relating to planning, mobilization of resources, development, growth, and employment.Inclusive growthFinance BudgetingMajor cropping patterns in different parts of the country, different types of irrigation, transport, and marketing of agricultural produce and issues and associated constraints; e-technology for Direct and indirect farm subsidies and minimum support prices; PDS– objectives, functioning, limitations; issues of buffer stocks, food security; economics of animal-rearing, Technology missions.Food processing and related industriesLand reformsEffects of LiberalisationInfrastructure: Energy, Roads, Ports, Airports, and railwaysInvestment modelsTips to Prepare Economy for UPSC Prelims & MainsSuggested books to read for economics topics of General Studies Paper III:NCERT textbook classes X, XI, XIIMinistry websites of water, power, etc.Economic SurveyBudgetsAdministrative Reforms Commissions (ARC) ReportsPIBNewspapersLast Updated : 28 Jul, 2023Like Article Save Article Please Login to comment...