Check Out The Most Effective UPSC Prelims 2021-22 Economy List:
In UPSC Prelims 2021 – Aspiring Candidates should have kin knowledge in each subject with every section with equal importance.
In this article, we have divided – Economy into 16 chapters. Where each topic is importantly described in detail for your better understanding.
| (Ch-1) Basic concepts in Economy ( UPSC PRELIMS 2021) | |
| STATIC/CONCEPTUAL | CURRENT AFFAIRS |
| Meaning of economy | Middle Income Trap |
| Economy vs Economics | Circular Economy |
| Macro Vs Micro Economy | Nobel Prize Winners Work |
| Sectors of the economy | Cyclic & Structural slowdown |
| Basic Activities in an economy—Production, Consumption, and Capital Formation | |
| Keynesian theory of Macro Economics | |
| Five Important Types of Economy | |
| Open vs Closed economy | |
| Types of Goods | |
| Central Problems of an economy | |
| (Ch-2) ECONOMIC GROWTH & DEVELOPMENT ( UPSC PRELIMS 2021) | |
| STATIC/CONECPTUEL | CURRENT AFFAIRS |
| Economic Growth – Meaning, Aims, Calculation, Real vs Nominal | |
| Better measure of eco growth – GDP or per capita income | |
| Capital formation and ICOR | |
| Savings Rate – meaning, factors, calculation | |
| Investment Rate | |
| Savings vs Investment slowdown | |
| Economic Development | |
| Growth vs Development | |
| Business Cycles and trend growth | |
| Various indicators of growth | |
| Various indicators of development | |
| Human Development | |
| HDI Index | |
| Purchasing Power Parity | |
| Five Year Plans- Basic Objectives and Aims | |
| (Ch-3) National Income ( UPSC PRELIMS 2021) | |
| Three Methods of National Income | Changes made in Indian GDP Series |
| GVA GDP NDP GNP NNP | Economic Survey Chapter 1 |
| Market Price and Factor Cost | National Statistical Office (NSO), MoSPI |
| Nominal GDP and Real GDP | National Statistical Commission (NSC) |
| Per Capita Income | Economic Survey |
| Lorenz Curve | |
| Gini Coefficient | |
| GDP Deflator | |
| Green GDP | |
| Economic Territory | |
| Depreciation | |
| Resident vs Citizen | |
| (Ch-4) MONEY & BANKING ( UPSC PRELIMS 2021) | |
| STATIC/CONECPTUEL | CURRENT AFFAIRS |
| History of Development of Banking System in India | CONTEMPORARY |
| Money – Functions, Demand, Supply, Types | Digital Money, Cryptocurrency |
| Types of Bank Accounts | Micro ATM |
| Classification of Banking Sector | Types of ATM |
| Small Finance Banks | UPI, NPCI |
| Board for Regulation and Supervision of Payment and Settlement Systems | White Label ATMs, Brown label ATMs |
| Shadow Banking System | Digital modes of payment settlement- NEFT, RTGS, IMPS |
| India Post Payments Bank (IPPB) | Microcredit |
| SIDBI | COMMITTEES – Nachiket Mor, Bimal Jalan, Urjit Patel etc |
| National Housing Bank | Transition of Urban Co-Operative Banks into Small Finance Banks |
| Payments Bank | Amalgamation vs Merger of Banks |
| Small Finance Banks | Development bank |
| Regional Rural Banks (RRB) | Financial Benchmarks India Pvt Ltd |
| Reserve Bank and its Functions | Utkarsh 2022 |
| Monetary Policy | SWIFT |
| Monetary Policy Committee | |
| Instruments of Monetary Policy | |
| (a) Quantitative | Schemes, Portals, Apps |
| (b) Qualitative | UPI 2.0, NPCI |
| Monetary & Liquidity Aggregates | Pradhan Mantri Jan Dhan Yojana (PMJDY) |
| Non-Performing Assets (NPA) | Ombudsman Scheme for Digital Transactions by RBI |
| Capital Adequacy Ratio | |
| Capital to Risk Assets Ratio (CRAR) | Laws, Policy |
| Capital Conservation Buffer (CCB) | IBC Features |
| Provisioning requirement | Project Sashakt |
| Basel III (Third Basel Accord) | Features of Payment and Settlement System Bill, 2018 |
| Marginal Cost of Funds Based Lending Rate (MCLR) System | RBI ‘Payment and Settlement Systems in India: Vision 2019 – 2021′ |
| Base rate | Banning of Unregulated Deposit Schemes Act, 2019 |
| Securitization | Chit Funds (Amendment) Bill, 2019 |
| Steps Taken to Tackle NPAs DRT (SARFAESI) Act, 2002 Asset Reconstruction Company Bad Banks Emphasis on Debt Restructuring Mission Indradhanush for Public-Sector Banks Banks Board Bureau Bank Merger 237 Insolvency and Bankruptcy Code, 2016 |
|
| Economic Survey | |
| LATEST CURRENT | |
| Retail, SME loans to be linked to external benchmarks | |
| 2. Financial Benchmarks India Pvt Ltd | |
| 3. Urban Cooperative Banks to transition into Small Finance Banks | |
| 4. Issues related to RBI | |
| (i) Transfer of funds from RBI to Central Government- | |
| (ii) RBI’s Banking Ombudsman- | |
| (iii) Section 7 of RBI Act, 1935 | |
| 5. Steps taken by RBI for NPA Resolution | |
| (i) Classification of stress into SMA (Special Mention Account)- | |
| (ii) Insolvency And Bankruptcy Code (Amendment) Ordinance 2018 | |
| (iii) Cross-border Insolvency | |
| (iv) Public Credit Registry (PCR) | |
| (v) Prompt Corrective Action (PCA) | |
| (vi) Project Sashakt | |
| 6. Previous Schemes for NPA Resolution | |
| (i) Private Asset Reconstruction Companies (ARC) | |
| (ii) Strategic Debt Restructuring | |
| (iii) Asset Quality Review | |
| 7. Banking Regulation | |
| (i) Bank Recapitalization Package | |
| (ii) Indradhanush- | |
| (iii) Merger Of Dena Bank, Vijaya Bank And Bank Of Baroda | |
| 8. Schemes for Financial Inclusion | |
| (I) Pradhan Mantri Jan-dhan Yojana (Pmjdy) | |
| (Ii) Pradhan Mantri Mudra Yojana | |
| (Iii) Unified Payments Interface (Upi) | |
| (Iv) National Payments Corporation Of India (Npci) | |
| (V) Jan Dhan Darshak App | |
| (Vi) Reduction In Merchant Discount Rate | |
| (Vii) Different Types Of Atms | |
| (Viii) India Post Payments Bank (Ippb) | |
| (Ix) Qr Card In Ippb | |
| (X) Business Correspondents (Bc) | |
| (Xi) Common Service Centres (Csc) As B.C. | |
| (Ch-5) EXTERNAL SECTOR ( UPSC PRELIMS 2021) | |
| STATIC/CONECPTUEL | CURRENT AFFAIRS |
| Foreign Exchange Rate | Protectionism |
| Types of Exchange Rate, NEER and REER, Nominal and Real Value, | Safeguard duty |
| Balance of Payments | Non-violation Complaint |
| Current account transactions, Capital account transactions, | Sunset clause |
| India’s Foreign Reserves, SDR | Double Taxation Avoidance Agreement |
| Current Account Convertibility, Capital Account Convertibility | Shell company |
| Tariff and Non-Tariff Barriers | Inward Remittances, RDA and MTSS |
| Economic Integration FTA, Types– PTA, FTA, Customs Union, Common Market, Economic Union, Economic Integration | Exim Bank |
| Currency Swap Facility | ECGC |
| Depreciation, Appreciation | World Customs Organization |
| Hard currency, Soft currency, Cheap currency, Dear currency | Hawala system |
| FDI, FPI | Legal Entity Identifier (LEI) code |
| Contingency Reserve Arrangement | Concession Financing Scheme |
| WTO, Agreements, Boxes, TRIPS | Economic Survey |
| (Ch-6) Financial Markets – Money & Capital Markets ( UPSC PRELIMS 2021) | |
| STATIC/CONECPTUEL | CURRENT AFFAIRS |
| Money Market | Exchange-Traded Funds & Bharat 22 |
| Capital Market | Infrastructure Investment Trusts (InvITs) |
| Primary Market and Secondary Market | Real Estate Investment Trust (REIT) |
| Regulation of Stock Exchanges in India & SEBI | BONDI- blockchain bond |
| Derivatives | Sovereign Blue Bond |
| Govt Securities (T-Bills, CMBs, SDLs. PDs | Women’s Livelihood Bonds (WLBs) |
| Debentures vs Shares | Elephant Bonds |
| Mutual Fund | National Financial Reporting Authority (NFRA) |
| NBFCs & IL&FS Crises | Ind AS |
| Limited Liability Partnerships | International Financial Services Centres (IFSC) Authority Bill, 2019 |
| Systematically Important Non- Deposit Core Investment Company | Municipal Bonds |
| LIBOR | SEBI bond market framework |
| Share swap | SEBI integration of surveillance and investigation department |
| Insider Trading | Masala Bonds, Offshore Rupee Markets |
| Credit Rating Agencies | Fintech |
| Share-pledging | Development Impact Bond (DIB) |
| Alternative Investment Fund | Green Bonds |
| Sovereign wealth fund | Municipal Bonds |
| Government Securities | Floating Rate Bonds |
| Bond Yield Inversion | CPI Linked Bonds |
| Financial Sector Regulators CCI, IRDA, PFRDA, FSDC |
Anchor Investors |
| ADR, GDR, IDR | Venture Capital |
| Angel Investor | |
| Angel Tax | |
| Value Capture Finance Policy Framework | |
| Total Expense Ratio (TER) | |
| Participatory Notes | |
| Sovereign Gold Bonds (SGBs) | |
| Peer To Peer (P2P) Lending | |
| Economic Survey | |
| (Ch-7) PUBLIC FINANCE ( UPSC PRELIMS 2021) | |
| STATIC/CONECPTUEL | CURRENT AFFAIRS |
| Fiscal Policy | N K SINGH Committee |
| Fiscal drag, Slippage | Independent ‘Fiscal Council’ |
| FRBM Act, 2003 | DTAA |
| Budget & its components | |
| Receipts and expenditure | Economic Survey |
| Capital vs Revenue | |
| Plan and Non-plan expenditure | |
| Deficits and its types | |
| Deficit financing | |
| Government Debt | |
| Disinvestment | |
| (Ch-8) TAXATION IN INDIA ( UPSC PRELIMS 2021) | |
| STATIC/CONECPTUEL | CURRENT AFFAIRS |
| Division of taxation powers between centre and states | Base Erosion and Profit Shifting |
| Methods of Taxation – Progressive , Regressive and Proportional | Goods and Services Tax Network (GSTN) |
| Tax Types- Proportional Taxes, Progressive Taxes, Regressive Taxes | Direct Tax Code |
| Types- Direct and Indirect Taxes | E-way bill |
| DTC – Direct Tax Code | Sabka Vishwas-Legacy Dispute Resolution Scheme, 2019 |
| Minimum Alternate Tax | Forest Villages and Revenue Villages |
| Important Taxes in India- Income Tax Excise Duty Customs Duty Service Tax Sales Tax or VAT |
Withholding Tax |
| Goods and Services Tax (GST) Components of GST: SGST, CGST and IGST Composition of the GST Council GST Rate Commodities Outside GST Compensation to States Implications of Introducing GST Administration of GST Input Credit Under GST Conditions for Claiming Input Credit Challenges in Introduction of GST |
Angel Tax |
| Tax-to-GDP Ratio | Long Term Capital Gains Tax |
| Laffer Curve | FATF |
| Tax Havens | Tax Information Exchange Agreement (TIEA) |
| General Anti-Avoidance Rules (GAAR) | |
| Shell Companies | Economic Survey |
| (Ch-9) Inflation | |
| Static | Current |
| Meaning & Types of Inflation | Economic Survey |
| Effects of Inflation | |
| Factors Affecting Inflation | |
| Role of RBI in Curtailing Inflation | |
| Measurement of Inflation | |
| Inflation Indices | |
| Measures to Control inflation | |
| Depression, Recovery, Boom, Recession, Growth recession, Double-Dip recession, Abenomics | |
| (Ch-10) INDUSTRY ( UPSC PRELIMS 2021) | |
| Static | Current |
| Industrial Policy prior to 1991 | Department for Promotion of Industry and Internal Trade (DPIIT) |
| Economic Reforms: Liberalization, Privatization, and Globalization | Udyam Abhilasha |
| Industrial Policy Since 1991 | Pariwartan Scheme |
| NIMZs | ‘Make in India’ in the Defence Procurement Procedure |
| Make In India | Solar Charkha Mission, Sampark portal- MSMEs |
| Fourth Industrial Revolution | EODB |
| Special Economic Zone (SEZ) | SWAYATT, GeM Start-up Runway |
| MSME | Samadhan Portal |
| Maharatna, Navratna, Miniratna | Government e-Marketplace (GeM) |
| Models of E-Commerce | Project SURE |
| Technical textiles | Samarth scheme |
| Corporate Social Responsibility | Draft e-commerce policy |
| Corporate Governance | Features of National Digital Communications Policy-2018 |
| National Policy on Electronics 2019 | |
| National Mineral Policy 2019 | |
| National Policy for Software Products 2019 | |
| Regulatory sandboxes | |
| (Ch-11) AGRICULTURE ( UPSC PRELIMS 2021) | |
| Static | Current |
| Agri Policy Since Independence | International Organisations |
| Operation Flood | Food and Agriculture Organisation |
| Mariculture | International Rice Research Institute |
| Blue Economy | International Crops Research Institute for the Semi-Arid-Tropics (ICRISAT) |
| APMCs | Asian Tea Alliance |
| Rainfed Agriculture | Schemes, Portals, Apps |
| Tea Board | Krishi Kalyan Abhiyan |
| Livestock Census | Coal Mine Surveillance & Management System (CMSMS) and ‘Khan Prahari’ mobile application. |
| Food Corporation of India (FCI) | Pradhan Mantri Annadata Aay SanraksHan Abhiyan (PM-AASHA) |
| Sugarcane Pricing mechanism in India | Pradhan Mantri Fasal Bima Yojna (PMFBY) |
| MSP | Gramin Agriculture Markets (GrAM) programme |
| Operation Greens | |
| Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) | |
| ENSURE portal | |
| Rashtriya Kamdhenu Aayog | |
| Honey Mission’ initiative | |
| MEGHDOOT App | |
| MISC CURRENT | |
| 10th Agriculture Census 2015-16 | |
| MSP for MFP | |
| United Nations’ Decade of Family Farming (2019-2028) | |
| Agriculture Export Policy, 2018 | |
| Marine Fisheries Regulation and Management (MFRM) Bill 2019 | |
| (Ch-12) INFRASTRUCTURE & ENERGY ( UPSC PRELIMS 2021) | |
| Static | Current |
| Transportation | Freight Village |
| Railways | Water aerodrome |
| Road Network | Draft National Logistics Policy |
| Indian Shipping | Train-18 |
| Civil Aviation | National Rail and Transportation Institute (NRTI) |
| Power | Mission Satyanishtha |
| Public-Private Partnerships | Bidder Information Management System (BIMS) and Bhoomi Rashi |
| Coal Sector | Pradhan Mantri Surakshit Sadak Yojana |
| Renewable Energy | Pradhan Mantri Awaas Yojana |
| Multi-modal terminal | Smart Cities Mission |
| Jal Marg Vikas project | |
| UDAN 3.0 | |
| ENERGY – Current Affairs | Laws, Policy |
| Petroleum and Explosives Safety Organisation (PESO) | Motor Vehicle (Amendment) Act, 2019 |
| New Definition for Petroleum under Petroleum and Natural Gas Rules, 1959 | Consumer Protection Act, 2019 |
| Unconventional hydrocarbons | RERA, 2016 |
| Petroleum and Natural Gas Regulatory Board (PNGRB) | Draft National Urban Policy Framework (NUFP), 2018. |
| Petroleum, Chemicals and Petrochemical Investment Regions (PCPIRs) | Draft Model Tenancy Act, 2019 |
| Strategic Petroleum Reserve (SPR) | Schemes, Portals, Apps |
| Coal Swapping Scheme, Scheme to Harness and Allocate Koyla (Coal) Transparently in India (SHAKTI) Policy | Aapoorti App |
| Saubhagya Scheme | |
| Deendayal Upadhyaya Gram Jyoti Yojana (DDUGJY) | |
| Power System Flexibility | |
| Smart Meters | |
| Atal Jyoti Yojana | |
| e-Dharti app and e-Dharti GeoPortal | |
| Ujwal Discom Assurance Yojana (UDAY) | |
| National Policy on BioFuels 2018 | |
| National Gas Grid | |
| Pradhan Mantri Ujjwala Yojana (PMUY) | |
| International Organisations | |
| International Civil Aviation Organization (ICAO) | |
| IEA | |
| (Ch-13) Unemployment & Poverty ( UPSC PRELIMS 2021) | |
| Static | Current |
| Types of Unemployment | National Minimum Wage |
| Tendulkar Committee | Periodic Labor Force Survey by NSSO |
| Rangarajan Committee | Fixed-Term Employment |
| Phillips Curve | |
| Human Resource Development | |
| HDI,MPI | |
| (Ch-14) Social Sector ( UPSC PRELIMS 2021) | |
| Static | Current |
| District Mineral Foundation | National Council for Vocational Education and Training (NCVET) |
| Public Utility Service | Institutions of Eminence (IOEs) |
| Drug Pricing in India | Social Stock Exchange (SSE) |
| National Pension System | |
| Schemes, Portals, Apps | |
| Pradhan Mantri Vidya Lakshmi Karyakram, VidyaLakshmi Portal | |
| Indian Institute of Skills, Global Skills Park | |
| Aspirational Districts Programme | |
| Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY) | |
| Deendayan Antyodaya Yojana-National Urban Livelihoods Mission (DAY-NULM), PAiSA- Portal for Affordable Credit and Interest Subvention Access | |
| National Agricultural Higher Education Project (NAHEP) | |
| Deedayal Disabled Rehabilitation Scheme (DDRS) | |
| PM Shram-Yogi Maandhan Yojana | |
| e-AUSHADHI portal | |
| Employees State Insurance Scheme | |
| Pradhan Mantri Laghu Vyapari Maan-Dhan Yojana | |
| (Ch-15) Sustainable Development ( UPSC PRELIMS 2021) | |
| Static | Current |
| Shared prosperity, Societal Poverty Line (SPL) | Angikaar Campaign |
| Pradhan Mantri Khanij Kshetra Kalyan Yojana (PMKKKY) | Draft National Voluntary Guidelines on Social, Environmental and Economic Responsibilities of Business |
| FAME-India Phase II | Eco Nivas Samhita, 2018 |
| (Ch-16) International Organisations ( UPSC PRELIMS 2021) | |
| United Nations, Food and Agriculture Organization (FAO), | World Trade Organization (WTO) |
| International Civil Aviation Organization (ICAO), | Asian Development Bank |
| International Fund for Agricultural Development (IFAD), | Asian Infrastructure Investment Bank (AIIB) |
| International Labour Organization (ILO) | New Development Bank |
| International Maritime Organization (IMO) | African Development Bank |
| International Monetary Fund (IMF) | OECD |
| International Telecommunication Union (ITU) | World Customs Organization |
| United Nations Educational, Scientific and Cultural Organization (UNESCO) | World Bank |
| United Nations Industrial Development Organization (UNIDO) | IMF |
| Universal Postal Union (UPU) | World Economic Forum |
| World Bank Group (WBG)- (IBRD) | UNHRC |
| International Finance Corporation (IFC) | WHO |
| International Development Association (IDA) | Trade Agreements- RCEP, TPP, NAFTA, MERCOSUR, Southern African Development Community (SADC), ASEAN, SAFTA |
| World Health Organization (WHO) | UNEP |
| World Intellectual Property Organization (WIPO) | International Whaling Commission (IWC) |
| World Meteorological Organization (WMO) | |
| World Tourism Organization (UNWTO) | |
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