INDIAN ECONOMY
( Economic Development , planning, mobilization, of resources, growth and employment)
India is a developing nation and economy, including a blended economy on the planet. The significant attributes of a developing economy are overpopulation, the most extreme populace underneath the destitute or poverty line, a poor infrastructure, an agro-based economy, a slower pace of capital development, and low per capita income. Since the freedom of the country, India has been creating numerous viewpoints according to the monetary perspective.
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What should be the approach to subject?
Indian economy comes under GS Mains paper-3.
The subject demands sound knowledge about the Indian economy and associated related issues. Basics aspects of economy need to be understood in depth. Monetary policy, Fiscal policy, Taxation, Budget, functioning of RBI and role of market forces in governing economy etc. are some of the issues that should be covered extensively.
Role of current affairs are of utmost importance regarding answering economy questions. Every year questions are asked from inflation, taxation, amendments associated with economy as well.
Few topics require depth understanding like factors affecting economic growth and development, how Industrialization, urbanization, skill development, technology, labor reforms, speed, scale, women empowerment etc can affect the economic growth etc.
Agriculture is one of the favorite topics of UPSC. Issues related to agriculture and farming should be analyzed properly while you are studying newspaper or notes like cropping patterns, irrigation systems, agricultural marketing, technology for farming support, farm subsidies, minimum support price etc.
You should also be aware about the issues and challenges related to agriculture. Types of the irrigation system in India, the problem with tube well & canal irrigation, how to increase irrigation efficiency (drip & sprinkler irrigation), river interlinking project etc can be some of the probable themes for questions related with irrigation are those topics that require special attention from the candidates.
Topic like food processing and associated industries is that topics which are in lime light for many years. Questions based on Food processing like Mega Food Parks, issues of agro-processing, doubling he farmers income etc. could be seen in question paper. You should give proper attention on topics like challenges related to food processing industries, infrastructure issue, technological backwardness, cooperatives and solutions.
Liberalization and its impact on Indian economy, how successful it was, how industries grew afterward, need for changes today to industrial policy, Impact of FDI, FII on the economy etc. and associated issues should be also covered. Types of investment models should be understood and find out issues that affect such steps too.
topics mentioned in syllabus that require serious attention
1) Inclusive growth and issues arising from it.
2) Government Budgeting.
3) Major crops-cropping patterns in various parts of the country
4) irrigation
5) direct and indirect farm subsidies
6) minimum support prices
7) Public Distribution System
8) Food processing and related industries
9) Land reforms
10) Effects of liberalization on the economy
11) Infrastructure
12) Investment models
Questions asked in UPSC CSE - 2022 Mains
1) Why is Public Private Partnership (PPP) required in infrastructural projects ? Examine the role of PPP model in the redevelopment of Railway Stations in India.
2) Is inclusive growth possible under market economy ? State the significance of financial inclusion in achieving economic growth in India.
3) What are the major challenges of Public Distribution System (PDS) in India ? How can it be made effective and transparent ?
4) Elaborate the scope and significance of the food processing industry in India.
5. The increase in life expectancy in the country has led to newer health challenges in the community. What are those challenges and what steps need to be taken to meet them ? (Answer in 150 words) 10
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