Indian Economy - UPSC Basics
Economy Basics: Simplified for UPSC Exam
Last Updated: January 2, 2026Economics Basics: The Story of Arthapura Imagine you have just arrived in Arthapura, a bustling village that represents a mini-economy. You have a limited budget of ₹100 in your pocket, but you want to buy food, a notebook, and a ticket to a cricket match. The Problem of Scarcity and...
Indian Economy: Features, Structure and Growth
Last Updated: January 1, 2026Imagine the Indian Economy as a protagonist in a grand novel. It is not just a collection of numbers; it is a living, breathing entity that has evolved from being a “Golden Bird” to a colonial subject, and now, to one of the world’s largest emerging markets. To understand the...
National Income Accounting: A Story of GDP, GNP, and NNP Explained
Last Updated: January 2, 2026Arjun sat at his study desk, surrounded by newspapers. One headline shouted, “India Becomes the World’s Fourth Largest Economy,” overtaking Japan. Another headline on the very next page worried about “Low Consumption Demand” and “Jobless Growth”. “How can we be growing so big and yet struggling at the same time?”...
Planning in India and NITI Aayog
Last Updated: January 2, 2026Imagine India in 1947 as a massive ship that had just won its freedom but was damaged, poor, and lacking direction. The captains of this ship (our freedom fighters) knew they couldn’t just let the ship drift. They needed a map and a schedule to rebuild the engine (Industry) and...
Inflation, Deflation and Price Stability
Last Updated: January 1, 2026A Guide to Inflation in India: UPSC Exam (Prelims and Mains) Imagine you are walking through a bustling Indian market in 2010 with ₹100 in your pocket. You buy a kilogram of apples and still have change left for a rickshaw ride home. Now, imagine visiting the same market today...
Monetary Policy and Banking System in India: UPSC Basics
Last Updated: January 2, 2026Imagine the Indian economy as a massive, bustling reservoir. The water in this reservoir is Money. If there is too much water, it floods (Inflation). If there is too little, the fields dry up (Recession/Slowdown). Standing at the floodgates, controlling the flow with precision, is the Grand Guardian: The Reserve...
Indian Fiscal Policy and Government Budgeting
Last Updated: January 2, 2026Imagine the Government of India as a massive joint family. Just like any family, it earns money (income) and spends money (expenditure). It wants to build a bigger house (Infrastructure) while making sure everyone eats well (Subsidies). But often, the family spends more than it earns, leading to debt. The...
Indian Taxation System Simplified
Last Updated: January 2, 2026The Financial Arteries of India Imagine the Government of India as a massive engine that powers the nation—building roads, defending borders, and feeding the poor. To keep this engine running, it needs fuel. That fuel is Tax. In the Indian economy, this fuel comes through two distinct pipelines: Direct Taxes...
Indian Agriculture and Allied Sectors
Last Updated: January 2, 2026Imagine the Indian economy as a giant, living organism. While the factories (Industry) are the muscles and the offices (Services) are the brain, Agriculture is the heartbeat. It pumps life into the nation, employing a massive chunk of the population and ensuring that 1.4 billion people have food on their...
Industrial Sector and Policies of India
Last Updated: January 6, 2026Imagine the economy as a vehicle. Agriculture is the wheels that have supported us for centuries, but Industry is the engine that provides speed and power. For a country to develop, it must shift from relying solely on farming to building factories, infrastructure, and technology. This transition creates stable jobs...