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Economics is very important from the UPSC exam point of view. It is very crucial not just for Prelims but for Mains and interview as well. If we analyze past year papers we can see that economy section is increasingly getting more focus. You can witness by checking the PYQ’s and in Mains you can expect 2 – 4 questions.

Questions will be of easy – medium type. You don’t have to be an expertise to answer those questions, Basic understanding of Budget terms, Economic Survey would be suffice. Below notes will help you in preparing economics for upsc ias examination.

Chapter 1: History, Structure & Types of Banking

  • Origin of Reserve Bank of India
  • Structure of Banking
  • Regional Rural Banks & Co-operative banks
  • Types of Banking

Chapter 2: History & Genesis of RBI

  • Introduction
  • Functions of RBI
  • Board for Payment and Settlement Systems (BPSS)
  • Various tools/instruments of monetary policy
  • Regulation of Banks
  • Role of RBI in coins in India
  • RBI as Banker of Government

Chapter 3: Basics in Banking Business

Chapter 4: Negotiable Instruments, Basel-III

Chapter 5: Capital Markets

Chapter 6: Economic Growth, Development & Inequality

Chapter 7: Economic Planning Fundamentals

Chapter 8: Government Budgeting-1: Basic Concepts For Prelims

Chapter 9: Government Budgeting-2: Taxation System

Chapter 10: GST, Fiscal Policy, FRBM, Investments

Chapter 11: Insurance Industry, NBFCs

Chapter 12: Land Reforms in India

Chapter 13: Money Markets, Futures, Derivatives

Chapter 14: Population, Census & Unemployment Fundamentals

Chapter 15: Terms and Concepts