Economics III (Indian Economy)

Unit 1 — Indian Economic Planning

Growth and development under different policy regimes (from planning to market-based development), Niti Aayog, performance of the Indian Economy from the time of the emergence of Niti Aayog

• NITI Aayog — Structure and Functions
• Salient features of Indian Economy and Structural changes

Unit 2 — Some Basic Issues

Features of development of the Indian Economy-journey from a developing country towards a developed country, Trend in National Income and change in sectoral composition over time, Demographic profile of Indian Economy, Population explosion and Demographic dividend in Indian economy, Poverty, Inequality and Unemployment in India

• Salient features of Indian Economy and Structural changes
• Poverty — Poverty Line, Causes and its alleviation strategies
• Population — Size and composition, Causes of high growth and Demographic Dividend

Unit 3 — Agriculture

Agriculture since Independence, Agricultural taxation, Agriculture Finance, Agricultural Marketing, Post–reform agricultural performance and its crisis

• Causes of Low Agricultural Productivity and Government measures to improve its productivity

Unit 4 — Industry

Industrial growth under the planning regime, Industrial disputes, Role of Trade Union and social security measures in India, Disinvestment policy and Privatisation, SMEs, MSMEs, Self-help groups, Atma Nirbhar Bharat

• New Industrial Policy,1991
• Micro, Small and Medium Enterprises (MSMEs) — Problems and Policies

Unit 5 — Service Sector

Growth of Service Sector in India with special reference to health and education, Service led Growth, Growth in Trade of services (Financial sector, Information Technology Sector, Outsourcing), Impact of liberalization on Service sector

Unit 6 — Financial Sector

Indian Financial System, Role of Reserve Bank of India and Commercial Banks, Development Banks, Non-Banking Financial Intermediaries

• Indian Money Market — Features and recent trends
• Indian Capital Market — Features and Growth

Unit 7 — Indian Public Finance

Sources of revenue of Union and State Governments, Introduction of GST and its implications, Centre-State conflict on finance

• Indian Tax Structure — Direct and Indirect Taxes
• Sources of Public Revenue
• Intergovernmental Fiscal Relations in India — Centre — State Fiscal Relationship and Finance Commission

Unit 8 — External sector

International Trade in India (Planning period and post-planning period), Economic liberalization and economic reforms in India, Globalization, BOP position of India (Pre and Post liberalization era), Foreign Capital, Foreign Aid, Foreign Direct Investment, Globalization

• Structural changes in India's foreign trade since 1991
• Balance of Payments — Structure and Disequilibrium