KPSC Group C - Economics Awareness Guide
Economics is the backbone of governance, policy-making, and financial stability, making it a crucial subject for competitive exams like KPSC, SSC, Banking, and UPSC. A strong understanding of fundamental economic concepts, national income, fiscal policies, banking, agriculture, and international trade is essential to analyze India’s economic growth and global position. This list highlights the most important economic topics, covering both theoretical foundations and practical applications, ensuring a well-rounded preparation for aspirants. 🚀
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1️⃣ BASIC ECONOMIC CONCEPTS
- Definition & Scope of Economics
- Microeconomics vs. Macroeconomics
- Basic Economic Problems: What, How & For Whom to Produce?
- Opportunity Cost & Production Possibility Curve
- Types of Economic Systems: Capitalist, Socialist, Mixed
2️⃣ NATIONAL INCOME & ECONOMIC GROWTH
- GDP, GNP, NNP, NDP – Concepts & Calculation
- Methods of Measuring National Income
- Real vs. Nominal GDP, GDP Deflator
- Per Capita Income & Standard of Living
- Economic Growth vs. Economic Development
- Human Development Index (HDI), Multidimensional Poverty Index (MPI)
3️⃣ MONEY & BANKING
- Definition & Functions of Money
- Types of Money: Fiat, Fiduciary, Commodity Money
- Inflation: Causes, Types & Control
- Role & Functions of RBI (CRR, SLR, Repo Rate, Bank Rate)
- Commercial Banks: Functions & Types
- Financial Inclusion: Jan Dhan Yojana, UPI, NEFT, RTGS, Cryptocurrency
4️⃣ GOVERNMENT BUDGET & FISCAL POLICY
- Union Budget: Revenue & Capital Expenditure
- Fiscal Deficit, Revenue Deficit, Primary Deficit
- Direct & Indirect Taxes (GST, Income Tax, Excise, Customs)
- Role of Finance Commission
- FRBM Act (Fiscal Responsibility & Budget Management)
- Public Debt & Deficit Financing
5️⃣ INDIAN ECONOMY: PLANNING & REFORMS
- Economic Planning in India (Five-Year Plans, NITI Aayog)
- LPG Reforms (Liberalization, Privatization, Globalization)
- Industrial Policies (1991 LPG Reforms, Make in India, Atmanirbhar Bharat)
- Economic Surveys & Budget Highlights
6️⃣ POVERTY, UNEMPLOYMENT & HUMAN DEVELOPMENT
- Definitions & Causes of Poverty in India (Tendulkar & Rangarajan Committee)
- Types & Causes of Unemployment (Cyclical, Frictional, Structural, Disguised)
- Government Schemes: MGNREGA, PM-KISAN, Skill India
7️⃣ AGRICULTURE & RURAL DEVELOPMENT
- Sectors of Economy: Primary, Secondary, Tertiary
- Cropping Patterns: Rabi, Kharif, Zaid Crops
- Land Reforms in India (Zamindari, Ryotwari, Mahalwari)
- Minimum Support Price (MSP) & Agricultural Pricing
- NABARD & Rural Credit
- Food Security: PDS, National Food Security Act
8️⃣ INDUSTRY & INFRASTRUCTURE
- Industrial Policies & Reforms
- MSMEs & Their Role in Economy
- SEZs (Special Economic Zones)
- Transport, Energy & Communication Sectors
- FDI & FII: Differences & Impact
9️⃣ INTERNATIONAL ECONOMICS & TRADE
- WTO, IMF, World Bank, AIIB, BRICS Bank
- Balance of Payments (BoP) & Balance of Trade (BoT)
- Foreign Exchange Reserves & Exchange Rate Systems
- Import-Export Policies, Trade Deficit & Surplus
- Free Trade Agreements (FTA), RCEP, SAARC, ASEAN
🔟 IMPORTANT GOVERNMENT SCHEMES & PROGRAMS
- Banking & Finance: Jan Dhan Yojana, Mudra Yojana
- Employment: MGNREGA, Skill India
- Social Welfare: Ayushman Bharat, Ujjwala Yojana
- Agriculture: PM-KISAN, Kisan Credit Card, e-NAM