Indian Economy Notes for UPSC IAS: Download Free Notes PDF

By Saroj Singh|Updated : May 26th, 2022

Indian Economy Notes for UPSC would be a vital study material for covering the Indian Economy section of the UPSC Syllabus for both Prelims and Mains. A serious aspirant knows that Economics is an important portion of the UPSC exam. Economics is in itself a very vast subject and in this case, Economy Notes can come very handy during the preparation as well as revision period of Economics. Economics is also the most dynamic portion which is very much dependent on current affairs. This requires a regular update on the current happenings. Each year, a good number of questions are asked on economics in UPSC which is very important for Prelim, Main as well as in the Interview. That is why candidates must get their hands on economics notes for UPSC.

Although the UPSC Economics Syllabus is vast, the basic portion of the syllabus requires a good understanding so as to cover the dynamic portion of the syllabus. In this article, we have compiled all the Economics UPSC notes for UPSC Prelims and Mains as per the UPSC Economics Syllabus. We have also included the current events relating that topics and further the Government schemes by various ministries. Additionally, we have also provided a direct link to download the Indian economy notes PDF.

UPSC Study Material: Indian Economy Notes 

Topics covered in this post are based on the static Indian economy portion which will help you with short Notes on important economic concepts and also Current Affairs topics linked with the core syllabus to enhance your understanding. Major Topics included In the Indian Economy Notes for UPSC are: Basics of Economics, Inflation, Monetary Policy/ Fiscal Policy, Banking in India, Financial Market, Planning and Investments, Sectors of Indian Economy, Infrastructure, Foreign Trade, Government Schemes, etc. These topics are further subdivided to give you comprehensive coverage of the Indian Economy notes for UPSC.

Also Check:- Economics Preparation Strategy for UPSC

Indian Economy Notes covered in these article links are created from various sources like NCERT, Newspapers, Economic Survey, Standard Books, etc. The notes are created to help the candidates so that they can ace the Indian economy section.


Sub Topics

Basics of Economics

National Income (GDP, GNP, NNP, Personal Income etc.)

Overview of Indian Economy

Basic Economic Theories


Inflation (Types and Effects)

Various Price Indices in India (CPI, WPI, CPI-AL, CPI-RL etc.)

Monetary Policy/ Fiscal Policy

RBI and Monetary Policy

Introduction of Union Budget

15th Finance Commission of India

Economic Survey 2020 PDF

Union Budget 2020-21

Banking system in India

History of Banking in India

Banking system in India

Public Sector Undertakings(PSUs) in India

Merger Of Banks in India

Strategic Disinvestment of PSUs

Financial Market

Introduction to Financial Market 

Money Market Overview

Capital Market

Planning and Investments

Five Year Plans: History of Economic Planning in India

Investment Models

Indian Economic Slowdown

Sectors of Indian Economy: Primary

Agriculture In India

Land Reforms in India

Issues related to direct and indirect farm subsidies

Minimum Support Price (MSPs)

Issues Of Buffer Stocks

Contract Farming in India

Public Distribution System in India

Blue Revolution in India

Food Processing in India

Sectors of Indian Economy: Secondary

Micro, Small and Medium Enterprises (MSMEs) in India

Sectors of Indian Economy: Tertiary

Food Processing in India

E-Commerce in India

Mega food parks in India


Privatisation of Indian Railways

National Infrastructure Pipeline (NIP)

Dedicated Freight Corridors

Foreign Trade

Balance of Payment- Current Account Deficit

World Trade Organisation

Role of International Labour Organization (ILO) in Social Security

Government Schemes and Policies

Government Schemes launched by various Ministries of GoI 

LPG Reforms in India

Human Development Issues

Different type of Unemployment

Poverty in India

Human Migration Issues in India


Global Crude Oil Prices Crash

Drug Pricing Policy in India

Strategic Petroleum Reserve In India

NITI Aayog and the Important Reports

Pradhan Mantri Garib Kalyan Yojana

MGNREGA; the Contribution in Strengthening the Rural Economy


Other Important UPSC Notes
Cabinet Mission Plan 1946 UPSC NotesIndian History Notes for UPSC
Charter Act 1813 Notes for IAS ExamCharter Act 1853 UPSC Notes
Biosphere Reserves in India Notes for UPSC ExamUPSC Notes - Morley minto Reforms
Revolt of 1857 Notes for UPSCStructure of Atmosphere UPSC Notes
Regulating Act of 1773 UPSC Polity NotesRyotwari System UPSC Notes
Charter Act 1833 UPSC NotesMahalwari System Notes for UPSC Exam
Human Development Index UPSC Notes 

How To Make Indian Economy Notes for UPSC

Note making plays a crucial role in the UPSC exam preparation. If you don’t make notes of the core points, then you have to go through the books again and again during the revision period. Below we have prepared a strategy for you that will help you make economics notes for UPSC.

  • Candidates should pick only one topic at a time to make notes. Candidates must keep a printout of the UPSC Economics Syllabus, and start making notes topic-wise.
  • Make sure you write in simple language so that it will be easier for you to understand, you can use short forms as well.
  • The purpose of note-making is to note down the most important points so don’t end up writing the whole book down.
  • You can underline the most important part of the statement as well.
  • Cover the economics syllabus chronologically while making notes to avoid confusion
  • Adopt a systematic approach while making Indian economy notes so that it can be used for a long period of time for revision.

Books to Make Economics Notes for UPSC

Above we have mentioned how candidates can make economics notes for UPSC, and here we are going to list down some of the highly recommended Indian economy books to make notes. Note-making should be done from a book that is written in simple, and easy-to-understand language, and which covers the entire Indian economy syllabus for UPSC. Following are the highly recommended books by experts and IAS toppers to make Indian Economy Notes.

  • Indian Economy by Ramesh Singh
  • Indian Economy Key Concepts by Shankarganesh K
  • The Indian Economy By Sanjiv Verma
  • Datt and Sundaram’s Indian Economy
  • Indian Economy by Uma Kapila

Important UPSC Topics


UPSC Exam Date

UPSC Notification

UPSC Eligibility

UPSC Online Application

UPSC Exam Pattern

IAS Exam

UPSC Previous Year Question Papers

UPSC Cut Off

UPSC Preparation Strategy

UPSC Books

UPSC Exam Analysis

UPSC Admit Card

IAS Salary


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FAQs on Indian Economy Notes for UPSC

  • Candidates can download the Economics Notes for UPSC from the provided links above in this post. We have given direct links to download the most important topics from the economics sections like basics of economics, inflation, monetary policy, the banking system in India, financial market, infrastructure, etc.

  • The monetary policy section of economics UPSC notes covers topics namely- RBI and Monetary Policy, Introduction of Union Budget, 15th Finance Commission of India, Economic Survey 2020 PDF, Union Budget 2020-21, etc. In this post above we have provided the direct link to download all these topics.

  • Indian Economy covers a large portion of the UPSC Mains Syllabus, Prelims Syllabus, and Optional paper syllabus. To make Indian Economy Notes candidates can take the help of the following books-

    • Indian Economy by Ramesh Singh
    •  Indian Economy Key Concepts by Sankarganesh K
    • The Indian Economy by Sanjiv Verma
    • Indian Economy by Datt and Sundharam’s 
    • Indian Economy by Uma Kapila
  • Candidates who are preparing for the economics sections of the UPSC syllabus must revise the UPSC economics notes at least 4 to 5 times. However, if the candidates get enough time then there is no harm in revising the notes more than that. Proper reversing of the notes would help the candidates to ace the economics section from the UPSC Prelims Syllabus, Mains syllabus, and Optional paper syllabus.

  • Yes, NCERT books are the backbone of the UPSC Preparation as they help the candidates to build a solid foundation that is required to clear the UPSC exam. The best NCERT book for making Indian Economy Notes would be Class 11- India’s Economic Development.

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