Economics Notes for UPSC: Indian Economy Notes PDF Download

By BYJU'S Exam Prep

Updated on: November 14th, 2023

Economics Notes for UPSC play a vital role in covering the study material for the Indian Economy UPSC syllabus in both Prelims and Mains. Economics is a vast subject in itself, covering both the static and the dynamic portion. The Economics Notes for UPSC include topics such as direct and indirect taxes, inflation, micro and macroeconomics, the Indian Baking system, etc.

This article has compiled the Indian Economy notes for UPSC, both for Prelims and Mains, as per the latest syllabus. Additionally, we have provided an Indian Economy Notes PDF at the end for the aspirant’s convenience, which will be helpful in preparation and revision.

Indian Economy UPSC

Indian Economy is an important part of the UPSC Syllabus. The subject carries weightage both in UPSC Prelims and UPSC Mains. The Economics Notes for UPSC are essential because both static and dynamic questions are asked from it. Current Affairs also play a major role in preparing the Indian Economy Notes. Students can download the PDF to revise anytime from the link provided below. These notes are crisp and to the point.

Indian Economy Notes PDF

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.

Indian Economy Notes for UPSC

The Indian Economy Notes covered in this article are created from various sources like NCERT Books, economics books, Newspapers, surveys, UPSC Books, etc. The notes are created to help the candidates ace the UPSC Exam.

The following are the major topics covered in the economics notes for UPSC:

Economics Notes for UPSC

To cover the Economy Notes for UPSC, one must be acquainted with the UPSC Prelims Syllabus and UPSC Mains Syllabus well. Post that, one should also be in touch with current affairs to enhance and correlate the topics well. The Economy section of the UPSC Exam is easy if one is clear with the foundation and concepts.

The broad topics that one needs to cover for the economics notes for IAS Exam are:

Basic Concepts: Meaning of Economics, Types of Economies, Sectors of an Economy, Microeconomic Concepts


Taxation: Objectives and Principles of Taxation, Tax Reforms, Taxation System in India, Subsidies and their Impact, GST and its Impact on different sectors

Monetary and Fiscal Policy:

Financial System: Regulatory Framework in the Indian Capital Market, Current and capital account convertibility, Risks of the financial system, Money Market and Capital Market in India

Government Budgeting and Investment Models:

Inclusive Growth and its Issues:

  • Public distribution schemes
  • Meaning and concept of Inclusion
  • Poverty Alleviation and Employment Generation
  • Why India’s growth is not inclusive?
  • Rural economy-based growth, the Need for Sustainable agriculture, food security, and resilience for growth

Foreign Trade and International Organizations:

Indian Economy and Issues related to Planning:

  • Role and objectives of Economic Planning in India
  • Mahalanobis’ Four-Sector Growth Model and Employment Generation
  • Development Strategy in India’s Five-Year Plan
  • Analysis of India’s Economic Performance in Development Planning
  • Role of NITI Aayog

Role of Agriculture in Indian Economy Notes: Co-operative Credit Societies in India, Land resource, Analysis of the APMC Act, Structure of Agricultural Marketing in India, Sustainable Land Management, Features of Agricultural Finance

Agriculture Credit Institutions:


Agricultural Revolution and Food Processing:

  • Blue Revolution
  • Golden Fibre Revolution: Jute
  • New foreign and domestic investment
  • Yellow Revolution
  • White Revolution – Operation Flood
  • Green Revolution
  • FDI Policy in Food Processing

Industrial Policy and Development Economy Notes for UPSC:

  • Mahalanobis Strategy and India’s industrial policy
  • New Economic Policy and Industrial policy
  • Strategies for disinvestment and privatization
  • New Manufacturing Policy
  • SEZs
  • Industrial Finance in India
  • Make in India

Industry and Infrastructure:

  • Mineral Auction Rules, 2015
  • Model Shop & Establishment Bill, 2016
  • Amendments to Bankruptcy Code
  • Analysis of Competition Commission of India
  • Bharatmala Pariyojana: Revolution In Indian National Highways
  • Draft National Food Processing Policy Released
  • Transformation in Indian Railways
  • H-1B Visa Rule Change & Its Impact on IT Sector
  • Privatization of Railways
  • Help Scheme
  • National Capital Goods Policy 2016 unveiled
  • Draft Social Security Code
  • Multi-Modal Transport System
  • Inland Waterways in India
  • Initiatives to Support MSME Sector
  • Aviation Sector & Regional Connectivity Scheme: Udan
  • Privatization of Air India: Critical Analysis
  • The Code on Wages, 2019

Schemes and Policies:

  • Critical Analysis of PM Crop Insurance Scheme
  • Banks Board Bureau
  • New PPP Policy
  • Critical Analysis of Bharatmala Project
  • Draft Energy Policy
  • Operation Greens
  • Bhavantar Bhugtan Yojana
  • GST Analysis
  • Sagarmala Project
  • Ease of Doing Business
  • Stand-up India Scheme
  • Sustainable Development Goals

Books to Create Economics Notes for UPSC

Above, we have mentioned how candidates can learn from the economics notes for UPSC, and here we will list down some of the highly recommended Indian Economy UPSC books to make notes. The following are experts’ highly recommended books and IAS Toppers to make Indian Economy Notes.

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

How to Prepare Indian Economy Notes?

It is not difficult to prepare economics notes for UPSC if the right approach is followed with dedication. Aspirants preparing for the upcoming exam must take care of the following points while preparing through the Indian economy notes PDF:

  • Go through the list of topics and subtopics under the Indian economy UPSC subject.
  • Go through UPSC previous year question papers to understand the type and difficulty level of the questions asked in Prelims and Mains.
  • Click on the link of each topic one by one and read the article thoroughly.
  • Make handwritten notes for better retention and revision.
  • Attempt the UPSC economics questions from the previous year’s papers once all the topics are completed.
Other Important UPSC Notes
Indian History Notes for UPSC Sociology Notes for UPSC
Art and Culture UPSC Notes Geography Notes for UPSC
Modern History UPSC Notes Environment and Ecology UPSC Notes
Indian Polity Notes for UPSC Ethics Notes for UPSC
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