Indian Economy - Principles, Policies, And Progress | For Upsc & State Civil Services Examinations | First Edition | By Pearson

Economics Is An Interesting Subject When Simplified. Often Students Are Not At Home With The Subject Because Of Dearth Of Story-telling Economics. That Explains Why You Have This Book In Your Hands. This Book Is An Outcome Of Threadbare Discussions With Tens Of Thousands Of Students Appearing For The Civil Services Examination. The Book Has A Strong Conventional And Conceptual Foundations, Thereby It Is Meant To Be The Base Book For Covering Economics For All Competitive Examinations In The Country-particularly, The Civil Services Examination Conducted By The Union Public Service Commission (upsc). This Book Addresses The Needs Of The Aspirants Completely As Per The New Upsc Trend As It Makes Concepts Amply Clear At The Basic Level; Covers Facts In The Most Updated Manner; Connects Them Dynamically To The Current Developments; Roots Them In The Indian Context; And Links Them With The World. Features: 1.helpful Aide For Prelim And Main Examination 2. Supplemented With Related Suitable Graphs And Images 3.includes Significant Segments Of Latest Economic Survey 4.difficult Concepts Are Explained In Easy-to-understand Language Cover Half Title Title Copyright Contents Preface About the Authors Chapter 1 Economy and Economics Introduction Tradeoffs Macro, Micro and Mesoeconomics Political Economy Liberal and Neo-liberal Economics Keynesian Economics Socialist and Communist Economics Development Economics State Capitalism or Beijing Consensus Mercantilism Behavioural Economics Green Economics Chapter 2 Economic Growthand its Measures Introduction Business Cycles: Slowdown, Recession, GreatRecession and Depression Measuring Economic Growth Gross Domestic Product (GDP) and GrossNational Product (GNP) Transfer Payments Factors of Production Market Price and Factor Cost GDP and NDP National Income National Income Statistics in India Indian Economy: Sectors and their Components Structural Composition of Economy Structural Change in the Economy Chapter 3 Growth and Development: Alternative Measures Introduction Human Development Index (HDI) Genuine Progress Indicator (GPI) Gross National Happiness (GNH) Happiness Index Green GDP Purchasing Power Parity: (PPP) Developed, Developing and LeastDeveloped Countries World Bank Classification Chapter 4 Planned Economic Development and NITI Aayog Introduction History of Economic Planning in India Mixed Economy Planning Goals Financial Resources for Five-Year Plans History of Planning Achievements of Planning India and the Manufacturing Sector NITI Aayog Chapter 5 Five Trillion Dollar Economy Introduction Strengths of the Indian Economy Five Trillion US$ and Macroeconomic Stability Investment-led Growth for Five TrillionDollar Economy Agriculture and Five Trillion Dollar Economy Manufacturing and Five Trillion US$ Services and Five Trillion Dollar Economy Exports and Five Trillion Dollar Economy Industry 4.0 and Five Trillion Dollar Economy Chapter 6 Fiscal Policy Fiscal Policy: Definitions Revenue Account and Revenue Expenditure Deficits Deficit Financing Fiscal Stimulus FRBM Act Fiscal Consolidation Off Budget Financing Zero Base Budgeting (ZBB) Plan and Non-plan Expenditure Classification Domestic Savings in India Domestic Savings Trends in India Public Debt External Debt Rupee Debt India and Sovereign Bonds External Debt Management Internal Debt Debt-GDP Ratio Chapter 7 Monetary and Credit Policy Monetary Policy: Definitions Money Supply Monetary Aggregates Demonetization Indian Financial Code (IFC) Monetary Policy Committee (MPC) Monetary Policy Framework Agreement Monetary Policy Transmission Repo Rate and Deposit Rate Linkage 2019 The Reserve Bank of India Bimal Jalan Committee on Economic Capital Framework RBI and its Subsidiaries Financial Stability and DevelopmentCouncil (FSDC) Macro Prudential Analysis Chapter 8 Money Market and Capital Market in India: Instruments and Dynamics Introduction Money Market Discount and Finance House of India (DFHI) London Interbank Offered Rate (LIBOR) Mumbai Interbank Offered Rate (MIBOR) Money Market Reforms Capital Market State Development Loan (SDL) Private Equity Hundi Chit Funds Credit Default Swap (CDS) Infrastructure Debt Funds (IDFs) Euro Issues Chapter 9 Stock Market Introduction Stock Exchange Primary Market Secondary Market Stock Exchanges in India SEBI Capital Market Reforms Derivatives Futures Buyback of Shares Anchor Investor Global Depository Receipts (GDR) American Depository Receipts (ADRs) Foreign Portfolio Investor (FPI) Clearing House Commodity Exchanges Stock Markets and Macroeconomy Indian Stock Market Performance Important Indices in the World Some Terms Blue Chip Largecap, Midcap or Small Cap Company MPS Norms Shariah Index Types of Shares Power Exchanges Chapter 10 Inflation: Concepts, Facts and Policy Introduction Inflation and its Types Measures of Inflation Causes of Inflation High Inflation Hurts Price Stability and Optimal Inflation GDP, Potential GDP and Inflation Inflation and Corruption Inflation Targeting New CPI Series 2015 Food Price Indices Residex Collection of Statistics Act, 2008 Growth-Inflation Trade Off Government Steps to Control Inflation Chapter 11 Taxation Introduction Tax Taxation in India Tax Reforms in India: The Need Direct and Indirect Tax Ratio Tax to GDP Ratio Number of Taxpayers Broadening Tax Base Tax Amnesty Schemes Direct Taxes Code (DTC) Capital Gains Tax Inverted Duty Structure Tax Expenditure Tax Havens Base Erosion and Profit Shifting (BEPS) Double Taxation Avoidance Agreement (DTAA) Rationalization of DTAA General Anti Avoidance Rules (GAAR) Place of Effective Management (PoEM) Tax Information Exchange Agreements (TIEA) Convention on Mutual Administrative Assistancein Tax Matters Transfer Pricing and APA Tobin Tax Pigovian Tax Goods and Services Tax (GST) Electronic Way Bill (E-Way Bill) GST and Federalism Minimum Alternative Tax (MAT) Some Tax Related Terms Chapter 12 Banking System In India Introduction Commercial Banks Safety of Banks and Basel Norms Insolvency and Bankruptcy Code 2016 Twin Balance Sheet (TBS) Challenge Public Sector Asset Rehabilitation Agency (PARA) Bank Consolidation Banks Board Bureau Small Finance Banks (SFBs) Payments Bank India Post Payments Bank (IPPB) Regional Rural Banks (RRBs) MUDRA Bank FDI In Banks Foreign Banks: Subsidiary Vs Branch Development Banks Co-operative Banks Shadow Banks Universal Banking in India Bank Run Chapter 13 Public Sector: Evolution, Reforms and Performance Introduction Performance Public Sector and Economic Reforms Disinvestment and Privatization Valuation of Shares Government Policy on Disinvestment/Privatization Bharat 22 Methods of Disinvestment ofMinority Stake in CPSEs Use of Disinvestment Proceeds Maharatna, Navaratna and Miniratna Companies Challenges for PSUs Ad-hoc Group of Experts (AGE) Report Purchase Preference Policy Chapter 14 Foreign Trade Introduction India’s Exim Policy: Its Evolution and Content India’s Trade Reforms Since 1991 Foreign Trade Policy 2015–20 Agri-Export Policy 2018 India’s Exports and Imports: Merchandise Exports Challenges to Boosting India’s Exports GST and Exports Important Schemes Export and Trading Houses GS1-India Institutional Infrastructure States and Export Efforts Trade Finance Free Trade Arrangements and India Free Trade Agreements (FTAs): Pros and Cons South-South Trade Non-Tariff Barriers Quantitative Restrictions Some Important terms Chapter 15 Foreign Direct Investment Introduction Benefits of FDI Costs of FDI Incentives to FDI India’s FDI Policy Chapter 16 Balance of Payments Introduction Current Account and Capital Account India’s Balance of Payments (BOP) Crisis in 1991 Balance of Payments and Invisibles Currency Convertibility FEMA and FERA Currency Swap Agreements Exchange Rate Currency Appreciation and its effects Sovereign Wealth Fund Dutch Disease Chapter 17 Indian Agriculture Introduction Food Grain Production 2018–19 Accounting for Success in Agriculture Government Initiatives Capital Formation in Indian Agriculture Agricultural Price Policy in India Terms of Trade (ToT) Taxing Agricultural Income Sustainable Agriculture Sustainable Agriculture and Water Management Soil Health Zero Budget Natural Farming in India Indian Agriculture and Climate Change Extension Services Agri-clinic and Agribusiness Centre Rural Credit Microfinance Agriculture Reforms Chapter 18 Infrastructure-I Introduction Types of Infrastructure National Critical Information Infrastructure Protection Centre (NCIIPC) Financing Infrastructure India Infrastructure FinanceCompany Limited (IIFCL) Hybrid-Annuity Model (HAM) Toll-Operate-Transfer (TOT) Swiss Challenge Viability Gap Funding Plug and Play Model Infrastructure Debt Fund InvITs and REITs Engineering, Procurement, Construction (EPC) Contract and Turnkey Green Bonds PPP: Right Model Affordable Housing Infrastructure Status Concerns Kelkar Committee 2015 Chapter 19 Infrastructure-II Introduction National Investment and Manufacturing Zones(NIMZs) Industrial Corridors Defence Corridor Industrial Parks National Highways Development Project (NHDP) Sagarmala Project India’s Inland Waterways Land Pooling Vs Land Acquisition Chapter 20 Poverty: Concepts, Data, Policy and Analysis Introduction Poverty and its Types World Bank and Poverty Definitions Planning Commission and Poverty Urban Poverty Rangarajan Committee Eradication of Poverty Multidimensional Poverty Index (MPI) Niti Aayog Task Force on Poverty Elimination Sustainable Development Goals (SDGs)Millennium Development Goals (MDGs) Universal Basic Income (UBI) Basic Income in India Poverty is a Cognitive Tax Chapter 21 Poverty Eradication and Randomized Controlled Trials (RCTs) Development Economics Randomized Controlled Trials (RCTs) 2019 Nobel Prize for Economics Education Health Microcredit Gender and Politics Bounded Rationality Abdul Latif Jameel Poverty Action Lab (J-PAL) Chapter 22 Economic Inequality Introduction Effects of Economic Inequality Measures of Inequality Balanced Regional Development (BRD)and Inclusive Growth Aspirational Districts Programme Inequality and Economic Growth Inclusive Growth Social Security Social Safety Net Globalization and Inequality Artificial Intelligence (AI) and Inequality Chapter 23 Employment, Skills and Labourin India Introduction Types of Unemployment Natural Rate of Unemployment or FullEmployment Causes of Unemployment Consequences of Unemployment Official Unemployment Estimates Classification Jobless Growth Labour Productivity Child Labour in India India and International Labor Organization (ILO) Conventions Skill Development National Skill Development Mission Pradhan Mantri Kaushal Vikas Yojana (PMKY) Demographic Dividend Economic Globalization and Employment Chapter 24 Global Financial Architecture Introduction Groups Institutions Chapter 25 Bretton Woods Institutions: International Monetary Fund (IMF) Introduction International Monetary Fund(IMF) SDRs as Global Reserve Currency IMF’s Financial Resources IMF and the Great Recession 2008 IMF and Social Protection IMF, Money-Laundering and Terror Finance India and the IMF Financial Transaction Plan (FTP) Financial Action Task Force (FATF) BRICS CRA Chapter 26 Bretton Woods Institutions: World Bank Group Introduction World Bank: IBRD and IDA India and the World Bank Bretton Woods 2.0 Chapter 27 World Trade Organization(WTO)–I Introduction GATT and WTO Decision-Making in the WTO Most Favoured Nation (MFN) Export Subsidies Directorate General of Trade Remedies Trade Facilitation World Trade Organization (WTO) and E-commerce India and WTO India and Bilateral Investment Treaty (BIT) H1B Visa Fee Hike and WTO-Compatibility Generalized System ofPreferences (GSP) and India India and WTO: Gains and Losses US Protectionism and its Legality Chapter 28 WTO and Intellectual Property Rights Introduction Agreement on Trade-Related Aspects ofIntellectual Property Rights (TRIPS) APEDA PPVFR Act Appendix