Indian Economy
Subject Overview
Indian Economy takes the theoretical economics from earlier papers and applies it directly to India — its structure, problems, and development trajectory. You'll cover the basic features and problems of the Indian economy (poverty, unemployment, inflation, income inequality), the sectoral composition of agriculture and industry, the shift from the Planning Commission to NITI Aayog, and India's foreign trade, balance of payments, and export promotion policy. This is a 6-credit General Elective paper across 4 units, and it gives commerce students the macro context behind the business decisions covered elsewhere in the program.
Unit-wise Syllabus
4 units — click WhatsApp below to get the full notes for each
Unit 1: Structure & problems of the Indian economy
Nature and structure of the Indian economy, economic growth vs. economic development, demographic features and population explosion, problems of poverty, unemployment, inflation, income inequality and black money
Unit 2: Sectoral composition of the economy
Issues in agriculture, land reforms, the Green Revolution and agricultural policy, industrial development, MSMEs and cottage industries, industrial policy, the public sector in India
Unit 3: Economic planning & policy
Nature, features and objectives of Indian planning, Planning Commission vs. NITI Aayog, monetary and fiscal policy, Centre-State finance relations, the Finance Commission, liberalisation, privatisation and globalisation and their impact
Unit 4: Foreign trade & the balance of payments
Value, composition and direction of India's foreign trade, balance of trade vs. balance of payments, disequilibrium in the balance of payments, export promotion and import substitution, WTO and India