Basic approach for UPSC Civil Service Exam is given below.

(For other exams it varies according to

their pattern)

Approach: Microeconomics
Only do selective study from NCERT Class 11 Microeconomics, as following.
1.
2.
3.
4.

Elasticity of demands (ch2) + Giffen goods (internet)

Law of diminishing marginal product (ch 3.4)
Perfect competition (ch4.1): only features.
Non-competitive markets: (ch.6)
1. features given @intro
2. Monopolistic competition (ch.6.2.1)
3. Oligopolistic competition (ch 6.2.2)
5. Price ceiling and Price floors (ch5.2): only basic definition
6. Glossary: only MCQ worthy definitions.

Approach: Macroeconomics + Indian Economy

GDP GNP Growth Basics
NCERT Class 12 Macroeconomics
Ch. 2 National Income Accounting

After NCERT

Circular flow of income.

How to calculate national
income (ignore minute
details/fomulas)
GDP, GNP, NNP, deflator and
their formulas.

Ramesh: Ch1. subtopic ideas of national income

Ch2 GDP vs Welfare topic (given at the

end of this chapter)

1. RAMESH: Ch 2 growth and development.

2. Human Development index: Theory + current
(Mrunal under Economic Survey ch. 13 summary) +
Schemes.
3. Then newspaper + Yojana/Kuru +Magazines
=>pib.nic.in

Money Banking Finance

NCERT Class 12
Macroeconomics
Ch. 3 Money & Banking:
Supply of money, Functions of
RBI

After NCERT
Ramesh
12 Banking
11. Financial market => 14 Securities Market (Stock
exchange, FII, QFI etc.)

 13 Insurance
Current:
Economic Survey ch5 (FI)
Legal angle: CSR, company law, SEBI powers
Committees: Mayaram FDI-FII, Bimal Bank License,
Nachiket Fin. Services, PJ Nayak Governance in Bank
boards. list goes on.
Scam like: Bitcoin, Ponzi Scheme, NSEL, SEBI-SAHARA,
Money laundering
Growth/Inclusion Angle

Foreign Investment/ Foreign Trade

NCERT Class 12 Macroeconomics

NCERT 12/macro/ch.6
Balance of Payment, Foreign Exchange
Gold standard, Bretton woods.
ignore Formulas and Charts. only one formula
important: National income: Y=C+I+G+X-M
+prepare all the terms in Glossary.

After NCERT
Ramesh
Ch15: External Sector
Ch16: IMF, World banks, OECD, ADB
and other intl.org (even for Mains)
Current (focus on these news)
1. CAD high, Rupee weak (Govt+RBI)
2. Bilateral investment
1. India 2015 Ch. on Commerce.
(for Mains.)
2. Visits and agreements. (make
notes)
3. WTO: current (Bali summit, agro
subsidy)
4. Infra, Food processing related (GSM3)

Taxation/ Fiscal policy

NCERT Class 12 Macroeconomics
Chapter 5

Revenue and capital account

Measures of deficit
Changes in Expenditure : ignore graph and formulas
Debt, deficit

After NCERT

Ch. on parliament=>budget making, chapters on Central state relations, federalism and CAG.
Ramesh Singh :
Ch. 18 Public finance.
Ch.17 Taxation
Lastly, GSM (MCQ)
(optional) Laxmikanths book on Pub.Ad:
Chapter on Financial Administration,
Union Government in India (PSU)

Approach: Indian Economy (for UPSC)

For Indian Economy- the approach must be prelim cum mains. (Prelim-oriented jugaad preparation
doesnt work anymore- because UPSC professors designing tough MCQs to break the backs of
coaching classes and senior players.) Anyways you should approach the basic of Indian Economy
following sequence:

#1: Background + British Raj/Pre-independence

NCERT 12: Fundamental of Human Geo.
1. Unit III (ch.5 to 9): sectors of economy
Colonialism, Imperialism, industrial revo.
1. NCERT (old) class 10, first chapter (Mrunal.org/history)
2. Bipin Chandra (Ch7) Economic Critique
3. NCERT class11 (economy) Chapter 1

#2: Agriculture/land reforms

NCERT (economy) class11 Chapter #2:
1. Planning topic ==>Ramesh 4 and 5
2. Land reforms topic => India Yearbook for schemes (rural development).
1. To prepare land reforms for Mains, go through
1. Mrunal.org/polity
2. Bipin Chandra: India Since Independence (ch.29 to 31)
3. Green revolution
1. NCERT geography books for more on Indian agriculture, cropping patterns, soil types.
2. India Yearbook 2014: MSP, NAFED etc from agriculture chapter
3. Ramesh Singh Ch.8.
4. Mains: Food processing- Ive written whole article series [Food processing], links given
above.
5. Mains: Bipin Chandra: India Since Independencech33
+ Maintain notes from Yojana, newspapers, PIB etc. for issues related to land reforms, subsidies, rural
development and planning.

#3: Rural development

NCERT class11: Ch.6 Rural development
Rural banking=>RRB, financial inclusion (Mrunals articles)
Agri.marketing=> Food processing (Mains) (Mrunals articles)
Organic farming & its benefits.
Eco.Survey ch8 (agri. Food Management)
IYB chapter (Agri, rural urban Development)

#4: Industrial development

NCERT (economy) class11
Chapter 2: Industrial policy resolution, Import substitution, Permission raj
Chapter 3: LPG
Ramesh Singh
Ch.6 (Economic Reforms)
Ch7 Inflation. (+newspaper)
ch9 (Indian industry and infra.) licensing, policy, disinvestment
Budget + Economic survey + IYB
Mains: Bipin PI Ch.25-28

#5: Infrastructure
1. NCERT class11: Ch.7 infrastructure
1. Energy=> renewable/non sources (GSM1); infra. (GSM3). For geography angle, refer to
Majid Hussian or DR Khullar.
2. Health infra.=> MDG, Public health, Schemes (GSM2 social sector schemes)- given on
Mrunal.org/snt
2. Ramesh Ch 9 and ch.22
3. Economic Survey ch. 9, 10 and 11
For Mains: 12th FYP plans points/recommendations for infrastructure.

#6: Poverty, Human resources

NCERT class11:
1. Ch4 Poverty: poverty line, Causes of poverty
2. Ch5 human capital formation
3. Ch7 Employment
Prelim cum mains (GS1 and GS3)
1. Ramesh: ch.21 Demographic dividend, Ch. 22 human development
2. Eco. Survey ch.2 and ch.13
3. Census 2011, skill Development (Yoj/Kur/12th FYP/Schemes)

#6: Sustainable development / Desi liquor

1. NCERT class11: 9
1. Carrying capacity, ozone depletion etc. basic
2. for biodiversity /environment angle: additionally prepare NCERT sci/geography, NIOS
2. Ramesh Ch.20
3. RIO+20 (Mrunal.org/enb) This summit is old topic but gives decent fodder points for
essay/interview.
4. Economic Survey ch. 12
Once this is done, you may go through remaining chapters of NCERT/Ramesh as per your time/mood.