JPSC Prelims Notes for Economic Concepts and Indian Economy

Basic Features of Indian Economy

(I) National Income ; Elementary concepts of national Income and methods of its calculation e-g,GDP, GNP, NDP, NNP, CSDP. NSDP, DDP at constant and current prices, at factor cost etc;
(II) Inflation : Concept control of inflation : monetary, fiscal and direct measures.
(III)Demographic features : Work force composition, demographic dividend with special reference to census of 2011; National Population Policy
(IV) Agriculture and Rural Economy : Importance of agriculture in national economy; agricultural growth in India-production & productivity; causes of low productivity and measures taken by government to improve agricultural production; Green Revolution, Ever Green Revolution and Rainbow revolution; WTO and agriculture.Marketing
and pricing of agricultural inputs and outputs.
(V) Industrial Economy: Policy Initiative & charges
(VI) Public Finance : nature, importance and scope of public finance; Public Revenue-Principles and types of taxation; direct, indirect, progressive and proportional, concept of VAT.
(VII) Public Expenditure : Theories of public expenditure; causes of growth of public expenditure and its impact on economy; internal and external borrowings.
(VIII) Budget : Principles of budgeting; types of budgettng-pprfnrmanrp- based.Zeroised; FRMD
(IX) Fiscal Policy : Concept and role of fiscal policy in achieving employment, stability and economic development.
(X) Centre-State fiscal relationship,role of Finance Commission; Financial aspects of 73rd and 74th Constitutional amendments.
(XI) Structure of Indian monetary and banking system in India.
(XI)(A) Composition and direction of India’s trade; Balance of payment problem

Sustainable Development, Economic Issues and Indian Development Strategy

(XII) Meaning and Measurement of Economic Development; Characteristics of Under Development.
(XIII) Indicators of development: HD1, GDI,GEM; India’s HDI progress .
(XIV) Rote of Foreign capital & technology in growth of economy.
(XV) Sustainable development : concept and indicators of sustainable development; economic,social and environmental sustainability; concept of Green GDP; Strategy and policy for sustainable development in India
(XVJ) Meaning of Inclusive growth and development policy and strategy during 11th and 12th Five Year Plans.
(XVII) Development status and Issues pertaining to socially and economically marginalised sections, like STs, SCs, religious minorities,backward castes and women; schemes launched for their development by Central/State Governments, including TSP, SCSP and minorities
(XVIII)Poverty and Un-employment:Measurements arid trends; identification of DPI families, HPt, MultiDimensional Indian poverty index.
(XIX)Food and Nutritional Security : Trends In Food production and consumption in India; Problem of Food Security : Problems and issues of storage,procurement distribution,import and export: Government policies,schemes and programmes such as, PDS, ICDS and Mid-day Meal etc.
(XX) Governmental policies for food and nutritional security.
(XXI)Planning Strategy : Objectives and strategy of Indian Five Year Plans; Functions and Role of NOG, Planning Commission.

(XXII) Decentralized Planning : Meaning and importance; and decentralised planning; major initiatives in India-

Economic Reforms, Nature and Impact on Indian Economy

(XXI1J) New economic Reforms-Liberalization, Privatization and Globalization, rationale and need for reforms, International financial institutions IMF, World Bank. WTO, their role and impact on Indian economy
(XXIV)Financial and Banking sector reforms, economic reforms and rural banking impact on rural credit:sources and problems of rural credit, institutional credit,SHG, micro finance, NABARD, RRBs, Scheduled Commercial Banks, rural co-operatives, financial inclusion
(XXV) Globalization of Indian economy ; its positive and negative impacts on different sectors, issues of FD1 and Fll in India.
(XXVI)Agricultural sector reforms and its impact on growth; issues of subsidies and public investment on agriculture, reforms and agrarian iris is,

(XXVII)lndustrial development and Economic reforms in India : Major changes in industrial policy, its impact on industrial growth and problems of SMEs; role of’ Public Sector enterprises in India’s industrialization in post reforms period; Disinvestment and Privatisation of Pubiic Enterprises