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UPSC & State PSC

Economy for UPSC CSE

National income, inflation, money and banking, the Budget, the external sector, agriculture and inclusive growth. Prelims tests concepts and institutions; GS Paper III wants you to apply them to current policy debates, using data carefully.

8 guides·Conducted by Union Public Service CommissionOfficial website

Study in this order

  1. 1Inflation: CPI, WPI, core and what the RBI watchesTwo price indices, a four per cent target and a debate about food prices. How inflation is measured in India, what causes it, why the RBI targets consumer inflation, and how to write about it in Mains. 5 min read
  2. 2Monetary policy, the MPC and the repo rateWhen the RBI changes the repo rate, what actually happens — and why does it sometimes take months to reach your loan? The tools of monetary policy, the committee that decides, and the plumbing of transmission. 5 min read
  3. 3Deficits, the Budget and the FRBM frameworkRevenue deficit, fiscal deficit, primary deficit — the Budget speech uses them every year, and Prelims loves to test the difference. What each one means, why governments borrow, and how India tries to keep borrowing in check. 5 min read
  4. 4GDP, GVA and national income without confusionGDP at market prices, GVA at basic prices, NNP at factor cost — the alphabet soup of national accounts is easier than it looks once you see how each measure is built from the last. 5 min read
  5. 5Bad loans, NPAs and the Insolvency and Bankruptcy CodeA decade ago, India's banks were weighed down by bad loans and its companies by debt they could not repay. How the problem built up, how the system responded — from asset quality reviews to the IBC — and what remains unresolved. 5 min read
  6. 6GST explained for UPSCOne nation, one tax — or rather, a shared tax run jointly by the Centre and the states. How GST works, how the GST Council decides, what changed with the 2025 rate rationalisation, and the debates that follow. 5 min read
  7. 7Balance of payments and the current accountEvery rupee that crosses India's borders is recorded somewhere in the balance of payments. What the current and capital accounts measure, why India runs a current account deficit, and what 1991 taught us about when it becomes dangerous. 4 min read
  8. 8MSP, procurement and agricultural marketingMinimum support prices are announced for more than twenty crops, but effective procurement covers far fewer. How MSP is fixed, who actually benefits, how mandis work, and what the debates since 2020 have been about. 4 min read

New Economy guides are added regularly. Back to all UPSC CSE guides