Economy PT 365 Extended

(360° Perspective: The Application-Centric Approach)

How to Use This Document:

● This document will teach you the “Right way to cover Economy PT 365” and beyond, with a 360-degree approach.
● It will assist you in linking Current Affairs with Static and then testing your understanding with the help of PYQs Analysis in each respective section.
● Keep this document handy while reading PT365.
● Read only those points from PT 365 which have been highlighted in this document.

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 Topic What to Read The PYQs Perspective

1.1. GROSS DOMESTIC PRODUCT (GDP) ● Basic of Gross ️Domestic ️Product ? Q. Which among the following steps is most
ESTIMATION IN INDIA ● GDP️ potential and GDP Gap ? likely to be taken at the time of an economic
● Different GDP Calculation Method → recession? (2021)
Production; Income; Expenditure (a) Cut in tax rates accompanied by increase in
● Who calculates GDP? Base Year ? interest rate
● GDP Deflator; Real vs Nominal GDP (b) Increase in expenditure on public projects
● ​Recession vs Depression (c) Increase in tax rates accompanied by reduction of
● GDP Calculation changes. Why ? interest rate
● GDP is not a good marker. Why? (d) Reduction of expenditure on public projects.
● Growth️ vs️ Development?
● GNP; NNP; National Income ? Q. Despite being a high saving economy,
capital formation may not result in significant increase
in output due to (2018)
(a) weak administrative machinery
(b) Illiteracy
(c) high population density
(d) high capital-output ratio

Q. Increase in absolute and per capita real GNP

do not connote a higher level of economic
development, if (2018)
(a) industrial output fails to keep pace with agricultural
output.
(b) agricultural output fails to keep pace with industrial
output.
(c) poverty and unemployment increase.
(d) imports grow faster than exports.

Q. A decrease in the tax to GDP ratio of a

country indicates which of the following?
(2015)
1. Slowing economic growth rates
2. Less equitable distribution of national
income

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 Select the correct answer using the code
given below.
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2

Q. Economic growth in country X will

necessarily have to occur if (2013)
(a) there is technical progress in the world economy
(b) there is population growth in X
(c) there is capital formation in X
(d) the volume of trade grows in the world economy

Q. The National Income of a country for a given period

is equal to the: (2013)
(a) Total value of goods and services produced by the
nationals.
(b) Sum of total consumption and investment
expenditure.
(c) Sum of personal income of all individuals.

1.2. NATIONAL MULTIDIMENSIONAL POVERTY ● Who is the Nodal Agency? Q. The Multi-dimensional Poverty Index of UNDP
INDEX (MPI) ● What are its 3 Dimensions and 12 Indicators ? covers following?( UPSC-Pre-2012)
● Methodology used in Computing India’s 1. Deprivation of education, health, assets and
National MPI. services at household level
● When was the First ever National MPI 2. Purchasing power parity at national level
released? 3. Extent of budget deficit and GDP growth rate at
● What is the Headcount ratio? national level
● Global Multidimensional Poverty Index - Who (a) 1 only
released it ? ⇒ 3 dimensions; 10 Indicators (b) 2 and 3 only
● How is poverty measured in India ? (c) 1 and 3 only
● Gini Coefficient ? (d) 1, 2 and 3
● Socio Economic Caste Census? Nodal
Agency? Q. In India, official poverty lines are higher in some
● Bare Necessities Index? states than in other because (Pre-2019)

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 a) Poverty rates vary from state to state
b) Price levels vary from state to state
Suresh Tendulkar committee c) Gross state product varies from state to state
As per Tendulkar method, % of Indians living below d) Quality of public distribution varies from state to
poverty line are: 21.9% (All India), 25.7% (Rural state
India), 13.7% (Urban area) in 2011-12.
NITI & Modi Govt use this figure in all official Q. The computation of poverty in terms of Monthly Per
documents. Capita Consumption Expenditure
(MPCE) based on the Mixed Reference Period was
recommended by the (CDS-2023-I)
(a) Lakdawala Committee
b) Tendulkar Committee
(c) Dandekar Committee
(d) Alagh Committee

Q. According to the National Multi- dimensional

Poverty Index (MPI) constructed by the
NITI Aayog, a household is considered deprived if
(CDS-2023-I)
1. a single member of the household is identified as
under-nourished
2. the body mass index of a woman member, between
15 years and 49 years of age, is below
18.5 kg/m.
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
Q. Which one of the following indicators is included in
the National (MPI)? (CDS-2023-I)
(a) Years of schooling
(b) Literacy rate
(c) Life expectancy
(d) Per capita income

1.3. DIRECT BENEFIT TRANSFER (DBT) Nodal Agency: DBT Mission, Cabinet Secretariat

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 under Secretary (Coordination & PG). Disbursements
are channelled through the Public Finance
Management System (PFMS).

● Aadhaar Requirement: Aadhaar is not

mandatory in DBT schemes.

● DBT in fertiliser ?

MGNREGA Wages are transferred into the bank

account of every worker thru Direct benefit
transfer (DBT).

1.4. SELF HELP GROUPS (SHGS) ● Read basics of SHGs. Q. Consider the following statements: (2023)
● About Lakhpati Didi Scheme ⇒ Ministry, 1. The Self-Help Group (SHG) Programme was
Objective ? originally initiated by the State Bank of India by
● Initiative to Promote SHGs - DAY-NRLM; providing microcredit to the financial deprived.
SVEP; DDU-GKY ? 2. In an SHG, all members of a group take
responsibility for a loan that an individual members
take.
3. The Regional Rural Banks and Scheduled
Commercial Banks support SHGs.
How many of the above statements are correct?
(a) Only one
(b) Only two
(c) All three
(d) None

Q. Pradhan Mantri Jan-Dhan Yojana has been

launched for (2015)
(a) providing housing loan to poor people at cheaper
interest rates
(b) promoting women’s Self-Help Groups in backward
areas
(c) promoting financial inclusion in the country
(d) providing financial help to marginalised
communities

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 Q. ‘SWAYAM’, an initiative of the Government
of India, aims at [2016]
(a) promoting the Self Help Groups in rural areas
(b) providing financial and technical assistance to
young start-up entrepreneurs
(c) promoting the education and health of adolescent
girls
(d) providing affordable and quality

Q. How does the National Rural Livelihood

Mission seek to improve livelihood options
of rural poor? (2012)
1. By setting up a large number of new manufacturing
industries and agribusiness centres in rural areas
2. By strengthening 'Self-Help Groups' and providing
skill development
3. By supplying seeds, fertilisers, diesel pump-sets
and micro-irrigation equipment free of cost to farmers
Select the correct answer using the code given below:
(a) 1 and 2 only
(b) 2 only
(c) 1 and 3 only
(d) 1, 2 and 3

Q. Which of the following can aid in furthering

the Government’s objective of inclusive
growth? (2011)
1. Promoting Self-Help Groups
2. Promoting Micro, Small and Medium Enterprises
3. Implementing the Right to Education Act
Select the correct answer using the code given below:
(a) 1 only
(b) 1 and 2 only
(c) 2 and 3 only
(d) 1, 2 and 3

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1.4.1. SHG BANK LINKAGES (SHG-BL) PROJECT ● Launched by NABARD in 1992. Q. In India, which of the following have the
● About Microfinance and NBFCs ? highest share in disbursement of credit to
● Microfinance Companies; NIDHI Companies agriculture and allied activities? (2011)
⇒ Who regulates ? (a) Commercial Banks
● NBFC: SHADOW BANKING ? (b) Cooperative Banks
(c) Regional Rural Banks
(d) Microfinance Institutions

Q. Microfinance is the provision of financial

services to people of low-income groups. This
includes both the consumers and the self-employed.
The service/services rendered under microfinance
is/are: (2011)
1. Credit facilities
2. Savings facilities
3. Insurance facilities
4. Fund Transfer facilities
Select the correct answer using the code given below
the lists:
(a) 1 only
(b) 1 and 4 only
(c) 2 and 3 only
(d) 1,2,3,4

Q. With reference to the Non-banking Financial

Companies (NBFCs) in India, consider the following
statements: [2010]
1. They cannot engage in the acquisition of securities
issued by the government.
2. They cannot accept demand deposits like Savings
Account.
Which of the statements given above is/ are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2

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2.1. STATE FINANCES ● Debt-GDP ratio of states trend ? Q. Find correct statement(s): (UPSC Pre-2019)
● Tax Buoyancy; Tax elasticity; Laffer Curve 1. Most of India’s external debt is owed by
● N K Singh Committee Recommendations. government entities.
● What is Escape Clauses ? 2. All of India’s external debt is denominated in US
● India’s external debt to GDP ? dollars.
● FRBM ACT, 2003 ? (a) 1 only
● Debt financing ? (b) 2 only
● Deficit financing ? (c) Both 1 and 2
(d) Neither 1 nor 2

Q. Consider the following statements: (2018)

1. The Fiscal Responsibility and Budget Management
(FRBM) Review Committee Report has recommended
a debt to GDP ratio of 60% for the general (combined)
government by 2023, comprising 40% for the Central
Government and 20% for the State Governments.
2. The Central Government has domestic liabilities of
21% of GDP as compared to that of 49% of GDP of
the State Governments.
3. As per the Constitution of India, it is mandatory for a
State to take the Central Government's consent for
raising any loan if the former owes any outstanding
liabilities to the latter.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) 1, 2 and 3

Q. In India, deficit financing is used for raising

resources for: (2013)
(a) economic development
(b) redemption of public debt
(c) adjusting the balance of payments
(d) reducing the foreign debt

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2.1.1. STATES’ CAPITAL EXPENDITURE ● What is Capital Expenditure ? Q. With reference to the expenditure made
● Just see the Trends in Capital Expenditure by an organisation or a company, which of the
(Capex) by States following statements is/are correct ?
(2022)
(Budget-2022:- State govts to get 1 lakh crore 1. Acquiring new technology is capital expenditure.
CAPEX loans with 50 year tenure, 0% interest) 2. Debt financing is considered capital
expenditure, while equity financing is considered
revenue expenditure.
Select the correct answer using the code given below
:
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2

2.2. PUBLIC DEBT ● What is Public Debt ? Classification ⇒Internal Q. Which one of the following is likely to be
and External Debt ? the most inflationary in its effects? (2021, 2013)
● Reasons and implications of High Public Debt (a) Repayment of public debt
? (b) Borrowing from the public to finance a budget
● Trend of Public Debt in India ? deficit
● Public Debt Management Agency (PDMA) (c) Borrowing from the banks to finance a budget
deficit
(d) Creation of new money to finance a budget deficit

Q. In India, deficit financing is used for raising

resources for: (2013)
(a) economic development
(b) redemption of public debt
(c) adjusting the balance of payments
(d) reducing the foreign debt

Q. With reference to India economy, consider

the following: (2015)
1. Bank rate
2. Open market operations
3. Public debt

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 4. Public revenue
Which of the above is/are components of Monetary
Policy?
(a) 1 only
(b) 2, 3 and 4 only
(c) 1 and 2 only
(d) 1, 3 and 4 only

2.2.1. OFF-BUDGET BORROWINGS ● What is Off-Budget Borrowings or Extra

Budgetary Resources ?
● Reasons for resorting to OBB ?

ES20 also criticised this practice.

These EBRs are not taken into account while

calculating the Fiscal Deficit but they’re counted
while calculating Government debt or public debt.

2.3. CURRENT ACCOUNT DEFICIT (CAD) ● Read complete BOP Concept. Q. Find correct statement(s) about international trade
● Why CAD ? of India at present? (Prelims-2020)
● Current vs Capital Account ? 1. India’s merchandise exports are less than its
● RBI’S FOREX RESERVE Component ? merchandise imports.
● Twin Deficit ? 2. India’s imports of iron steel, chemicals, fertilisers
● CAD and Inflation Concept ? and machinery have decreased in recent years.
3. India’s exports of services are more than its imports
of services.
4. India suffers from an overall trade/current account
deficit.
a) 1 and 2 only
b) 2 and 4 only
c) 3 only
d) 1, 3 and 4 only

Q. Which is included in India's foreign-exchange

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 reserves? (2013)
A. Foreign-currency assets, Special Drawing Rights
(SDRs) and loans from foreign countries.
B. Foreign-currency assets, gold holdings of the RBI
and SDRs.
C. Foreign-currency assets, loans from the World
Bank and SDRs.
D. Foreign-currency assets, gold holdings of the RBI
and loans from the World Bank.

Q. “Gold Tranche” (Reserve Tranche) refers to (2020)

a) A loan system of the World bank
b) One of the operations of a central bank
c) A credit system granted by WTO to its members
d) A credit system by IMF to its members

Q. Consider the following actions which the

Government can take: (Prelims-2011)
1. Devaluing the domestic currency.
2. Reduction in the export subsidy.
3. Adopting suitable policies to attract greater FDI and
Flls. Which of the above can help in reducing the
current account deficit?
A) 1 and 2 B) 2 and 3 C) 3 only D) 1 and 3

Q. With reference to Balance of Payments,

which of the following constitutes/
constitute the Current Account? (2014)
1. Balance of Trade
2. Foreign Assets
3. Balance of Invisibles
4. Special Drawing Rights
Select the correct answer using the code given below:
(a) 1 only
(b) 2 and 3 only
(c) 1 and 3 only

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 (d) 1, 2 and 4

Q. The Balance of Payments of a country is a

systematic record of (2013)
(a) all import and export transactions of a country
during a given period of time, normally a year
(b) goods exported from a country during a year
(c) economic transaction between the government of
one country to another
(d) capital movements from one country to another

Q. Which of the following constitute Capital

Account? (2013)
1. Foreign Loans
2. Foreign Direct Investment
3. Private Remittances
4. Portfolio Investment
Select the correct answer using the code
given below:
(a) 1, 2 and 3 only
(b) 1, 2 and 4 only
(c) 2, 3 and 4 only
(d) 1, 3 and 4 only

Q. There has been a persistent deficit budget

year after year. Which of the following actions can be
taken by the government to
reduce the deficit? (2015)
1. Reducing revenue expenditure
2. Introducing new welfare schemes
3. Rationalising subsidies
4. Expanding industries
Select the correct answer using the code given below.
(a) 1 and 3 only
(b) 2 and 3 only
(c) 1 only

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 (d) 1, 2, 3 and 4

2.4. DATED SECURITIES ● Capital Market Q. Find correct statements (Prelims-2022) :

● Money Market 1. A share of the household financial savings goes
● DEBT INSTRUMENTS towards government borrowings.
● Near Money 2. Dated securities issued at market-rates in auctions
● Treasury bills (T-bill) - Can the state issue it ? form a large component of internal debt.
● WMA (ways and means advances) (a) 1 only
● Cash Management Bills (CMBs) (b) 2 only
● State Development Loans (SDLs) (c) Both 1 and 2
● E-Kuber Platform (d) Neither 1 nor 2
● Open Market Operations (OMOs)
● Call Money Q. Consider the following markets : (2023)
● Notice Money 1. Government Bond Market 2. Call Money Market 3.
● Inflation Indexed Bonds Treasury Bill Market 4. Stock Market
● Non-convertible Bond/Debenture How many of the above are included in capital
● Masala, Maharaja, Panda Bond markets?
● Social Impact Bonds (a) Only one
● Zero coupon Bond (b) Only two
● Electoral bonds (c) Only three
● Bond Yield (d) All four

Q. Which one of the following activities of the

Reserve Bank of India is considered to be
part of 'sterilization? (2023)
(a) Conducting "Open Market Operations'
(b) Oversight of settlement and payment systems
(c) Debt and cash management for the Central and
State Governments
(d) Regulating the functions of Non-banking Financial
Institutions

Q. Find Correct statements (UPSC-Pre-2018)

1. The RBI manages and services Govt of India
Securities, but not any State Govt Securities.

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 2. Treasury bills are issued by Govt of India and there
are no treasury bills issued by State Govts.
3. Treasury bills are issued at a discount from the par
value.
(a) 1 and 2 only
(b) 3 only
(c) 2 and 3 only
(d) 1, 2 and 3

Q. In the Indian economy, non-financial debt includes

? (Prelims-2020)
1) Housing loans owed by households
2) Amounts outstanding on credit cards
3) Treasury bills
a) 1 only
b) 1 and 2 only
c) 3 only
d) 1, 2 and 3

Q. Find correct statement(s) (2020)

1) ‘Commercial Paper’ is a short-term unsecured
promissory note.
2) ‘Certificate of Deposit’ is a long-term instrument
issued by the Reserve Bank of India to a corporation.
3) ‘Call Money’ is a short-term finance used for
interbank transactions.
4) ‘Zero-Coupon Bonds’ are the interest bearing
short-term bonds issued by the Scheduled
Commercial Banks to corporations.
a) 1 and 2 only
b) 4 only
c) 1 and 3 only
d) 2, 3 and 4 only

Q. Find correct about “Inflation-Indexed Bonds (IIBs)”

in India (Prelims-2022)

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 1. Government can reduce the coupon rates on its
borrowing by way of IIBs.
2. IIBs provide protection to the investors from
uncertainty regarding inflation.
3. The interest received as well as capital gains on
IIBs are not taxable.
(a) 1 and 2 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) 1, 2 and 3

Q. Find correct statements about Convertible Bonds

(Prelims-2022)
1. As there is an option to exchange bonds for equity,
Convertible Bonds pay a lower rate of interest.
2. The option to convert to equity affords the
bondholder a degree of indexation to rising consumer
prices.
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2

Q. Find correct statement about ‘IFC Masala Bonds'

(UPSC-Pre-2016)
1. The International Finance Corporation, which
issues them, is an arm of the World Bank.
2. They are rupee-denominated bonds and are a
source of debt financing for public & private
sector.
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither1 nor 2

Q. Which one of the following is a viable alternative to

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 term-loans for raising debt finance by large publicly
traded firms? (UPSC-IES-2018)
(a) Shares
(b) Debentures
(c) Asset loans
(d) Gold loans

Q. With reference to India economy, consider

the following: (2015)
1. Bank rate
2. Open market operations
3. Public debt
4. Public revenue
Which of the above is/are components of Monetary
Policy?
(a) 1 only
(b) 2, 3 and 4 only
(c) 1 and 2 only
(d) 1, 3 and 4 only

Q. In the context of Indian economy, ‘Open

Market Operations’ refers to: (2013)
(a) borrowing by scheduled banks from the RBI
(b) lending by commercial banks to industry and trade
(c) purchase and sale of government securities by the
RBI
(d) None of the above

Q. With reference to the Indian Economy, consider the

following statements: (2020)
1. ’Commercial Paper’ is a short term unsecured
promissory note.
2. ‘Certificate of Deposit’ is a long-term instrument
issued by the Reserve Bank of India to a corporation.
3. ‘Call Money’ is a short-term finance used for
interbank transactions.

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 4. ‘Zero-Coupon Bonds’ are the interest bearing
short-term bonds issued by the Scheduled
Commercial Banks to corporations.
Which of the statements given above is/are correct?
(a) 1 and 2 only
(b) 4 only
(c) 1 and 3 only
(d) 2, 3 and 4 only

2.5. GOODS AND SERVICES TAX (GST) ● Trend in GST Collection ? Q. What is/are the most likely advantages of
implementing 'Goods and Services Tax (GST)'?
(2017)
The GST council meeting imposed a GST of 28% 1. It will replace multiple taxes collected by multiple
on online gaming, horse racing and casinos. authorities and will thus create a single market in
India.
Pratidin: A web based daily performance 2. It will drastically reduce the 'Current Account Deficit'
management system for GST was recently of India and will enable it to increase its foreign
established in Central Board of Indirect Taxes & exchange reserves.
Customs (CBIC) 3. It will enormously increase the growth and size of
the economy of India and will enable it to overtake
China in the near future.
Select the correct answer using the code given below:
(a) 1 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) 1, 2 and 3

Q. Consider the following items: (2018)

1. Cereal grains hulled
2. Chicken eggs cooked
3. Fish processed and canned
4. Newspapers containing advertising material
Which of the above items is/are exempted under GST
(Good and Services Tax)?
(a) 1 only
(b) 2 and 3 only

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 (c) 1, 2 and 4 only
(d) 1, 2, 3 and 4

2.6. WIDENING TAX BASE ● How to widen the Tax Base ? Q. Despite️ being️ a️ high️ saving️ economy,️ capital️
● Tax to GDP ratio formation️ may️ not️ result️ in️ significant️ increase️ in️
● Angel Tax output️ due️ to(UPSC-Pre-2018)
● Leverage Ratio (a) weak administrative machinery
● Interest Coverage Ratio (b) illiteracy
● Debt to Equity Ratio (c) high population density
● Capital️ Output️ Ratio (d) high capital-output ratio

Q. A decrease in the tax to GDP ratio of a country

indicates which of the following? (2015)
1. Slowing economic growth rates
2. Less equitable distribution of national income
Select the correct answer using the code
given below.
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2

2.7. OFFICIAL STATISTICS ● Present status: Official Statistical System in

India ?

The Ministry of Statistics and Programme

Implementation (MoSPI) is the nodal agency for
planning integrated development of the statistical
system in the country.

Directorates of Economics & Statistics (DES)

coordinates statistical activities in the State/UT.

National Statistical Commission (constituted in

2006) acts as an apex advisory body on statistical

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 matters.

It was created on the recommendations of the C.

Rangarajan Commission.

Place in Seventh Schedule: The subject ‘Statistics’

is covered in Entry 94 of the Union List and Entry
45 of the Concurrent List.

Legislations: Exclusive statistical laws, such as

the Census Act 1948, the Registration of Births
and Deaths Act 1969 and the Collection of
Statistics Act 2008.

3.1. PERIODIC LABOUR FORCE SURVEY (PLFS) ● Launched by ?

● Just see the trend given in the box.

3.2. NOBEL PRIZE IN ECONOMICS: WOMEN IN ● About the Nobel Prize ?

LABOUR FORCE ● Who awards the prizes?
● Noble in Economics ?
● Goldin’s U-curve ?

3.3. GIG ECONOMY ● About the Gig Economy.

● Platform Gig Workers vs Non-Platform Gig
Workers ?
● Read about 4 labour codes.

4.1. INCREMENTAL CASH RESERVE RATIO (ICRR) ● CRR and ICRR Q. Which of the following measures should be taken
● SLR when an economy is going through
● Standing Deposit Facility (SDF) in inflationary pressures? [CDS-2012]
● Repo and Reverse repo rates. 1. The direct taxes should be increased. 2. The
● Liquidity Adjustment Facility (Repo Rate & interest rate should be reduced.
Reverse Repo Rate) 3. Public spending should be increased.
● Marginal Standing Facility. (a) Only 1
● Bank Rate. (b) Only 2
● PRIORITY SECTOR LENDING. (c) 2 and 3
(d) 1 and 2

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 Effect of ICRR ⇒ Manage Liquidity; Inflation
Control; protection against threat of Bank Run; Q. Cash Reserve Ratio refers to (CDS-2020)
reducing the Aggregate Demand of the Economy (a) the share of Net Demand and time liabilities
(NDTL) that banks have to hold as liquid assets
(b) the share of NDTL that banks have to hold as
balances with the RBI
(c) the share of Net demand and time liabilities that
banks have to hold as part of their cash reserves
(d) the ratio of cash holding to reserves of banks

Q. Find correct statements about SLR: (CDS-2011)

1. To meet SLR, Commercial banks must keep cash
only.
2. SLR is maintained by the banks with themselves.
3. SLR restricts the banks leverage in pumping more
money into the economy.
a) 1, 2 and 3 (b) 1 and 3 (c) 2 and 3 (d) only 2

Q. When RBI reduces SLR by 50 basis points which is

likely to happen? (UPSC-Pre-2015)
(a) India's GDP growth rate increases drastically.
(b) Foreign Institutional Investors may bring more
capital into our country.
(c) Scheduled Commercial Banks may cut their
lending rates.
(d) It may drastically reduce the liquidity to the banking
system.

Q. If the CRR is lowered by the RBI, supply of money

in the economy will (CAPF-2023)
(a) remain unchanged
(b) decrease
(c) increase
(d) have ambiguous impact.

Q. The banks are required to maintain a certain ratio

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 between their “cash in hand” and total
assets. This ratio is known as (CAPF-2023)
(a) Cash Reserve Ratio (CRR)
(b) Statutory Liquidity Ratio (SLR)
(c) Central Bank Reserve (CBR)
(d) Statutory Bank Ratio (SBR)

Q. Which of them is/are part of Monetary Policy?

(Prelims-2015)
1) Bank rate 2) Open market operations 3) Public debt
4) Public Revenue
(a) 1 only
(b) 2, 3 and 4
(c) 1 and 2
(d) 1, 3 and 4

Q. Which of the following is not an instrument of

Selective Credit Control? (Pre-1995)
a) Regulation of consumer credit
b) Rationing of credit
c) Margin requirements
d) Cash reserve ratio

Q. An increase in the Bank Rate generally indicates

that (Pre-2013)
a) Market rate of interest is likely to fall.
b) Central Bank is no longer making loans to
commercial banks.
c) Central Bank is following an easy money policy.
d) Central Bank is following a tight money policy.

Q. If RBI adopts an expansionist monetary policy,

which would it not do ? (Pre-2020)
1. Cut and optimize the Statutory Liquidity Ratio
2. Increase the Marginal Standing Facility Rate
3. Cut the Bank Rate and Repo Rate

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 a) 1 and 2 only
b) 2 only
c) 1 and 3 only
d) 1, 2 and 3

4.2. SURPLUS TRANSFER BY RBI ● RBI Balance Sheet (Asset and Liability)? Q. Find Correct statements about RBI: (2021)
1. The Governor appointed by the Central Govt.
RBI is not required to pay income tax, it transfers 2. Certain provisions in the Constitution of India give
surplus amount to government in accordance with the Central Government the right to issue
Section 47 (Allocation of surplus profits) of RBI directions to the RBI in public interest.
Act, 1934 3. The Governor draws his power from the RBI Act.
a) 1 and 2 only
b) 2 and 3 only
RBI used to keep a major chunk of this surplus for c) 1 and 3 only
its Contingency Fund (CF) and Asset Development d) 1, 2 and 3
Fund (ADF).
However, after Malegam Committee (2013)
recommendations and later under revised
Economic Capital Framework (2014-15) by Bimal
Jalan committee, its transfer of surplus to
government increased.

Section 7(1) of the RBI Act empowers the

Government to consult with RBI Governor in
Public Interest.

● See the Graph Given ?

4.3. TRANSITION FROM LONDON INTERBANK ● LIBOR; MIBOR ?

OFFERED RATE (LIBOR)
LIBOR transition benefits to India - Reduction in
financing cost; Reduced borrowing costs; More
competition.

5.1. CROSS-BORDER PAYMENTS Not Prelims Worthy.

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5.2. SECURITIES AND EXCHANGE BOARD OF Read about all Regulatory Body
INDIA (SEBI) ● SEBI; RBI
● IRDAI
● PFRDA
● Financial Stability and Development Council
(FSDC)

5.3. FOREIGN PORTFOLIO INVESTMENT (FPI) ● FDI ? Q. Both Foreign Direct Investment (FDI) and Foreign
● Automatic Route vs Government Route? Institutional Investor (FII) are related to
● FDI RULES FOR E-COMMERCE? investment in a country. Which one of the following
● FPI & Hot Money? statements best represents an important difference
● Foreign Exchange Management Act, 1999 ? between the two?(2011)
● Prevention of Money Laundering Act, 2002 A. FII helps bring better management skills and
(PMLA) ? technology, while FDI only brings in capital.
B. FII helps in increasing capital availability in general,
while FDI only targets specific sectors.
C. FDI flows only into the secondary market, while FII
targets the primary market.
D. FII is considered to be more stable than FDI
Q. Find correct major characteristics with reference to
FDI in India (Prelims-2020)
a) It is the investment through capital instruments
essentially in a listed company.
b) It is largely non-debt creating capital flow.
c) It is an investment which involves debt-servicing.
d) It is the investment made by foreign institutional
investors in the Government securities.

Q. Which of the following can be included in Foreign

Direct Investments in India [Pre-2021]
1) Foreign Currency Convertible Bonds
2) Foreign Institutional investment with certain
conditions
3) Global depository receipts (GDR)
4) Non-resident external deposits
a) 1, 2 and 3

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 b) 3 Only
c) 2 and 4
d) 1 and 4

Q. An Indian buys shares in a British car company.

This will be reflected in: (CAPF-2023)
(a) Balance of Trade, but not in Balance of Payments.
(b) Balance of Payments, but not in Balance of Trade.
(c) both Balance of Payments and Balance of Trade.
(d) neither Balance of Payments nor Balance of Trade.
Q. Which of the following have occurred in
India after its liberalisation of economic
policies in 1991? (2017)
1. Share of agriculture in GDP increased enormously.
2. Share of India's exports in world trade increased.
3. FDI inflows increased.
4. India's foreign exchange reserves increased
enormously.
Select the correct answer using the codes given
below:
(a) 1 and 4 only
(b) 2, 3 and 4 only
(c) 2 and 3 only
(d) 1, 2, 3 and 4

5.4. CORPORATE DEBT MARKET ● Government Debt Market and Corporate Debt
Market ?
● Corporate Debt Market Development Fund
(CDMDF) ⇒ established by ?
● Alternate Investment Fund (AIF) ?

5.5. INVESTOR SERVICES FUND (ISF) AND ● SEBI protects Investors ?

INVESTOR PROTECTION FUND (IPF) ● Function of ISF & IPF? Funding Mechanism ?

5.6. SOCIAL STOCK EXCHANGE ● About the Social Stock Exchange ?

● Entities identified as Social Enterprises.

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6.1. EXCHANGE RATE MANAGEMENT IN INDIA ● What is Currency Valuation? Q. Under flexible exchange rate system, the exchange
● Fixed Exchange Rates ? rate is determined by [CDS-2015]
● Flexible/Floating Exchange Rates ? (a) predominantly by market mechanism
● Managed Exchange Rates ? (b) by the Central Bank
● Devaluation of Currency ? (c) as a weighted index of a group of currencies
● SOFT VS HARD CURRENCY (d) by the World Trade Organization
● Dollarization & DE-Dollarization
● IMF-SPECIAL DRAWING RIGHTS Q. In the context of India, which of the following
● CURRENCY SWAPS factors are contributors to reducing the risk of a
● Nostro & Vostro Accounts currency crisis? (Prelims-2019)
● QUANTITATIVE EASING AND FEDERAL 1. The foreign currency earnings of India’s IT sector.
TAPERING 2. Increasing government expenditure.
● NEER and REER 3. Remittances from Indians abroad.
● Purchasing Power Parity (a) 1 only
● Currency exchange rate - During Inflation & (b) 1 and 3 only
During Deflation (c) 2 only
(d) 1,2 and 3 only
Gresham’s law - In Fixed Exchange Rate “Bad
money drives out good money.” Q. Which one of the following is not the most likely
measure the Government/RBI takes to stop the slide
Thiers’s law - “Good money drives out bad money” of the Indian rupee? (Prelims-2019)
(a) Curbing imports of non-essential goods and
promoting exports
(b) Encouraging Indian borrowers to issue rupee
denominated Masala bonds
(c) Easing conditions relating to external commercial
borrowing
(d) Following an expansionary monetary policy

Q. The price of any currency in international market is

decided by: (Pre-2012)
1. The World Bank.
2. Demand for goods/services provided by the country
concerned.
3. Stability of the government of the concerned
country.

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 4. Economic potential of the country in question.
(a) 1, 2, 3 and 4
(b) 2 and 3
(c) 3 and 4
(d) 1 and 4

Q. If another global financial crisis happens in the near

future, which of the following actions/policies are most
likely to give some immunity to India? (Prelims-2020)
1. Not depending on short-term foreign borrowings
2. Opening up to more foreign banks
3. Maintaining full capital account convertibility
a) 1 only
b) 1 and 2 only
c) 3 only
d) 1, 2 and 3

Q. Consider the following actions which the

Government can take: (Prelims-2011)
1. Devaluing the domestic currency.
2. Reduction in the export subsidy.
3. Adopting suitable policies to attract greater FDI and
Flls.
Which of the above can help in reducing the current
account deficit?
A) 1 and 2
B) 2 and 3
C) 3 only
D) 1 and 3

Q. The effect of devaluation of a currency is that it

necessarily[Pre-2021]
1. improves the competitiveness of the domestic
exports in the foreign markets
2. increases the foreign value of domestic currency
3. improves the trade balance

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 a) 1 Only
b) 1 and 2
c) 3 Only
d) 2 and 3

Q. With reference to the Indian economy,

consider the following statements: (2022)
1. An increase in Nominal Effective Exchange Rate
(NEER) indicates the appreciation of rupee.
2. An increase in the Real Effective Exchange Rate
(REER) indicates an improvement in trade
competitiveness.
3. An increasing trend in domestic inflation relative to
inflation in other countries is likely to cause an
increasing divergence between NEER and REER.
Which of the above statements are correct ?
(a) 1 and 2 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) 1, 2 and 3

Q. Find correct statement(s) (2020)

1. Purchasing Power Parity (PPP) exchange rates are
calculated by the prices of the same basket of goods
and services in different countries.
2. In terms of PPP dollars, India is the sixth largest
economy in the world.
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2

Q. Assertion (A) : The rate of growth of India’s exports

has shown an appreciable increase after 1991.
[Prelims-2000]
Reason (R) : The Govt. of India has resorted to

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 devaluation.
(a) Both A and R are true and R is the correct
explanation of A
(b) Both A and R are true but R is not a correct
explanation of A
(c) A is true but R is false
(d) A is false but R is true

Q. The sustained decrease in the general price level is

called as (CDS-2023-I)
(a) deflation (b) stagflation (c) devaluation (d)
recession.

Q. Which is/are the effects of devaluation or

depreciation of currency? (CDS-2023-II)
1. It leads to an increase in imports and decrease in
exports.
2. It leads to an increase in exports and decrease in
imports.
3. It leads to an increase in domestic inflation. 4. It
leads to decrease in domestic inflation.
(a) 1 and 3 only
(b) 1 and 4 only
(c) 2 and 3 only
(d) 3 only

6.2. FOREIGN TRADE POLICY 2023 ● See the Trend of India Export and India Trade
Balance.

The Union Ministry of Commerce and Industry

notified the Foreign Trade Policy 2023.

6.2.1. TRADE FACILITATION AND EASE OF DOING ● Niryat Bandhu ?

BUSINESS (EODB), FTP 2023
Directorate General of Foreign Trade (DGFT)
Organization is an attached office of the Ministry

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 of Commerce and Industry

6.2.2. EXPORT PROMOTION INITIATIVES BY FTP ● Export Promotion of Capital Goods (EPCG)
2023 Scheme
To facilitate the import of capital goods for
producing quality goods and services and
enhance India’s manufacturing competitiveness.

It allows the import of capital goods at zero

customs duty.

Deemed Exports - those transactions in which goods

supplied do not leave the country, and payment for
such supplies is received either in Indian rupees or in
free foreign exchange.
In simpler terms, under deemed export, the goods
can be sold within India to anybody who holds a
licence for the import of these very goods.

6.2.3. OTHER KEY INITIATIVES BY FTP 2023 ● Remission of Duties and Taxes on Exported
Products (RoDTEP)
● SCOMET Items: Special Chemicals,
Organisms, Materials, Equipment and
Technologies

SCOMET items are regulated under the Weapons

of Mass Destruction and their Delivery Systems
(Prohibition of Unlawful Activities) Act, 2005.

Imported goods covered under the SCOMET list

are not permitted for export.

6.3. FREE TRADE AGREEMENTS (FTA) OF INDIA ● About Free Trade Agreement (FTA) Q. Consider the following countries:(2018)
India has signed 13 FTAs with various countries - 1.Australia 2.Canada 3.China 4.India 5.Japan 6.USA
Sri Lanka, Nepal, Bhutan, Thailand, Singapore, Which of the above are among the 'free-trade
South Korea, Japan, Malaysia, Mauritius, United partners' of ASEAN?
Arab Emirates and Australia (a) 1, 2, 4 and 5

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 (b) 3, 4, 5 and 6
India-ASEAN FTA: India and (ASEAN) have agreed (c) 1, 3, 4 and 5
to conclude the review of the existing FTA in (d) 2, 3, 4 and 6
goods by 2025.

● Transatlantic Trade and Investment Pact

(TTIP)
● TPP-11 or CPTPP
● INDO-PACIFIC ECONOMIC FRAMEWORK
(IPEF)
● REGIONAL COMPREHENSIVE ECONOMIC
PARTNERSHIP (RCEP)
● FTA ‘rules of origin’
● NAFTA
● SAFTA
● USA’s Generalised System of Preferences
(GSP) list
● Broad-based Trade and Investment
Agreement (BTIA)

6.4. GLOBAL TRADE BARRIERS ● Tariff Barriers vs Non-Tariff Barriers (NTBs) - Q. With reference to Trade-Related Investment
80% of India’s trade is subject to some NTBs. Measures (TRIMS), which of the following
● (Tariff Barriers) General Agreement on Tariffs statements is/are correct? (UPSC-Prelims-2020)
and Trade (GATT) for goods 1. Quantitative restrictions on imports by foreign
● (Tariff Barriers) General Agreement on Trade investors are prohibited.
in Services (GATS) 2. They apply to investment measures related to trade
● (Non-Tariff Barriers) For non-food: Agreement in both goods and services.
on Technical Barriers to Trade 3. They are not concerned with the regulation of
● (Non-Tariff Barriers) For food: Agreement on foreign investment.
Sanitary and Phytosanitary Measures a) 1 and 2 only
● (Non-Tariff Barriers) For non-food: Subsidies b) 2 only
and Countervailing Measures c) 1 and 3 only
● (Non-Tariff Barriers) For food: Agreement on d) 1, 2 and 3
Agriculture (AoA)
● Green, Blue, Amber Box Subsidies Q. In the context of which of the following do you
● Technical barriers vs Non-technical barriers sometimes find the terms 'amber box, blue box and

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 ● Countervailing Duty vs Anti-Dumping Duty green box' in the news? (UPSC-Pre-2016)
● Trade-Related Aspects of Intellectual Property (a) WTO affairs
Rights (TRIPS) (b) SAARC affairs
● Trade-Related Investment Measures on (c) UNFCCC
Foreigners. (TRIMs) (d) India-EU negotiations
● Trade and Development Report 2023
published by ? Q. TRIPS Agreement pertains to (CDS-2017)
● About UNCTAD (a) international tariff regime
(b) intellectual property protection
Report by UNCTAD (c) international practices on trade facilitation
The Technology and Innovation Report (d) international taxation of property
World Investment Report
The Information Economy Report Q. Which of the following are the main functions of
The Trade & Development Report WTO? (UPSC-IES-2020)
1. To organise meetings of members to arrive at trade
agreements covering international trade.
2. To ensure member countries conduct trade
practices as per agreements signed by the members.
3. To provide a platform to negotiate and settle
disputes of international trade between members.
(a) 1 and 2 only
(b) 1 and 3 only
(c) 2 and 3 only
(d) 1, 2 and 3

6.5. WORLD TRADE ORGANISATION (WTO) ● Read about WTO. Q. India enacted the Geographical Indications
● Developed’ and Developing’ countries status of Goods (Registration and Protection) Act, 1999 in
? order to comply with the obligations to (2018)
(a) ILO
World Trade Report by WTO (b) IMF
(c) UNCTAD
(d) WTO

Q. Consider the following statements: [2017]

1. India has ratified the Trade Facilitation Agreement
(TFA) of WTO.

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 2. TFA is a part of WTO's Bali Ministerial Package of
2013.
3. TFA came into force in January 2016.
Which of the statements given above is/are
correct?
(a) 1 and 2 only
(b) 1 and 3 only
(c) 2 and 3 only
(d) 1, 2 and 3

Q. The ‘Fortaleza Declaration’ recently in the

news, is related to the affairs of: (2015)
(a) ASEAN
(b) BRICS
(c) OECD
(d) WTO

6.6. DE-DOLLARIZATION ● What is DE-DOLLARIZATION & Benefit ? Q. Statement I: A very strong US Dollar squeezes
● What is Global Currency ? global credit. (UPSC-EPFO-2023)
● SWIFT (Society for Worldwide Interbank Statement II: Many countries and companies outside
Financial Telecommunication) America borrow in Dollars.
● Full capital account convertibility ? (a) Both statement I and II are correct and statement II
is the correct explanation for I
(b) Both statement I and II are correct and statement II
is not the correct explanation for statement I
(c) Statement I is correct but II is incorrect
(d) Statement I is incorrect but II is correct

6.7. REMITTANCES ● World Bank’s Remittance Report

● See the Remittance Box and Ranking

World Bank Group Reports

Doing Business Reports
Global Economic Prospects
Global Financial Development
Commodity Markets Outlook

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 Poverty and Shared Prosperity
World Development Reports

6.7.1. LIBERALISED REMITTANCE SCHEME (LRS) ● What is LTS ?

● Prohibited vs Permissible Remittance.
● FEMA Rules ?
● Tax Collected at Source (TCS) ?

6.8. CREDIT RATING AGENCIES ● Credit Information Companies vs Credit Q. Find Correct about credit rating agencies (CRA) in
Rating Agencies India? (2022)
● Who regulates them ? 1. They are regulated by the Reserve Bank of India.
● Utility of Credit Rating? 2. The rating agency popularly known as ICRA is a
public limited company.
7 credit rating agencies in India: CRISIL; CARE; 3. Brickwork Ratings is an Indian credit rating agency.
ICRA; Acuité Ratings; Brickwork Rating; India Which of the statements given above correct ?
Rating and Research Pvt. Ltd., and Infomerics (a) 1 and 2 only
Valuation and Rating Pvt. Ltd. (b) 2 and 3 only
(c) 1 and 3 only
(d) 1, 2 and 3

6.9. INCREASE IN IMF QUOTA ● About the IMF?

● IMF Reports
● IMF Quota Components?
● Significance of the rise in Quota ?

India currently has a Quota of 2.75 % with voting

rights of 2.63%.

India is the 8th largest quota holder.

7.1. FERTILISERS SECTOR IN INDIA ● PM-PRANAM ? Q. Why does the Govt promote the use of
● GOBAR-Dhan ? Neem-coated Urea’ in agriculture? (2016)
● Sulphur-coated Urea (Urea Gold)? (a) Release of Neem oil in the soil increases nitrogen
● Urea Constituent ? fixation by the soil microorganisms
● Fertiliser industry in India ? (b) Neem coating slows down the rate of dissolution of
● Nitrogen: Phosphorus: Potassium (NPK) urea in the soil
● Nutrient Based Subsidy (c) Nitrous oxide, a greenhouse gas, is not at all

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 ● Neem Coating of Urea released into atmosphere by crop fields
● DBT of fertiliser ? (d) It is a combination of a weedicide and a fertiliser
● Pradhan Mantri Bhartiya Janurvarak for particular crops.
Pariyojna” (PMBJP) / One Nation One
Fertiliser ? Q. Find correct statement(s) about chemical fertilisers
in India (2020)
1) At present, the retail price of chemical fertilisers is
market-driven and not administered by the
Government.
2) Ammonia, which is an input of urea, is produced
from natural gas.
3) Sulphur, which is a raw material for phosphoric acid
fertilizer, is a by-product of oil refineries.
a) 1 only
b) 2 and 3 only
c) 2 only
d) 1, 2 und 3

7.1.1. PHOSPHORUS SECTOR India is the world’s largest importer of

Phosphorus, most of it from the cadmium-laden
deposits of West Africa.

Phosphate rocks are majorly produced only from

two States in India, namely Rajasthan and Madhya
Pradesh.

At most places, Phosphorus coexists with

Cadmium.

7.2. MINOR IRRIGATION ● Major vs Medium vs Minor Irrigation (Criteria

for classification) ?

Uttar Pradesh possesses the largest number of

Minor irrigation schemes in the country, followed
by Maharashtra, Madhya Pradesh, and Tamil Nadu.

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 First Census of Water Bodies: It was conducted in
convergence with the sixth Minor Irrigation
schemes, using 2017-18 as the reference year.
94.8% of the Minor Irrigation schemes are
groundwater-based, and the rest, 5.2%, are
surface-water schemes.

Dug wells have the highest share in MI schemes

followed by shallow tube wells, medium tube wells
and deep tube wells.

7.3. BHARATIYA BEEJ SAHAKARI SAMITI LTD. ● About BBSSL ?

7.4. SEED CERTIFICATION ● SATHI Portal - WHO LAUNCHED IT ? Q. Which best describes the main objective of Seed
Village Concept? (UPSC-Pre-2015)
In India, legal status to seed certification was (a) Encouraging the farmers to use their own farm
given by the Enactment of Seeds Act, 1966. Seed seeds and discouraging them to buy the seeds from
certification is voluntary, but labelling is others.
compulsory in India. (b) Involving the farmers for training in quality seed
production and thereby to make available quality
India established Protection of Plant Varieties and seeds to others at appropriate time and affordable
Farmers Rights (PPV&FR) Authority, under cost.
PPV&FR Act, 2001 to ensure availability of quality (c) Earmarking some villages exclusively for the
seeds and planting material to farmers. production of certified seeds.
(d) Identifying the entrepreneurs in villages and
providing them technology and finance to set up seed
● What is Biofortification ? companies.
● What are Hybrid seeds ?
● What is Transgenic / Genetically modified. Q. Consider the following statements: [2019]
1. According to the Indian Patents Act, a biological
For GM Seed: Environment Protection Act 1986 → process to create a seed can be patented in India.
Genetic Engineering Appraisal Committee 2. In India, there is no Intellectual Property Appellate
conducts studies, and recommends approving a Board.
GM crop in India → Environment ministry gives 3. Plant Varieties are not eligible to be patented in
final permission. India.
Which of the statements given above is/ are correct?

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 (a) 1 and 3 only
(b) 2 and 3 only
(c) 3 only
(d) 1,2, and 3

7.5. FOOD STORAGE IN INDIA ● Read the schemes given in the box.
● See the trend of Increase in Food Grains
Production.

7.6. MANAGING FOOD INFLATION IN INDIA ● Read Basic of Inflation (Very Important) Q. Why did India experience high food inflation in the
● 22 Essential Commodity for Price Monitoring. recent past? (UPSC-Pre-2011)
● Inflation Measurement in India. 1. Due to a gradual switchover to the cultivation of
● Food inflation Reasons and Remedies. commercial crops, the area under the cultivation of
● Cobweb Cycle. food grains has steadily decreased in the last five
● Minimum Export Price. years by about 30%.
● Open Market Sale Scheme. 2. As a consequence of increasing incomes,
● Price Stabilization Fund. consumption patterns of the people have undergone a
● Operation Greens for T-O-P. significant change.
● Essential Commodities Act 1955. 3. The food supply chain has structural constraints.
(a) 1 and 2 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) 1, 2, and 3

Q. Which were affecting the price of rice in India in the

recent past? (UPSC 2020)
1) MSP 2) Government’s trading 3) Government’s
stockpiling 4) Consumer subsidies
(a) 1,2 and 4 only
(b) 1,3 and 4 only
(c) 2 and 3 only
(d) 1,2, 3 and 4

7.7. AQUACULTURE SECTOR ● India Fisheries Sector (Read facts given in

box)
● Coastal Aquaculture Authority
● Coastal Aquaculture Authority (Amendment)

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 Act, 2023.
● Aquaculture - What is seaweed?
● Mariculture ?

7.8. INLAND FISHERIES ● Blue revolution

● Pradhan Mantri Matsya Sampada Yojana
● Sagar Mitra
● Types of Inland Fisheries

India has recently overtaken China to become the

largest contributor of inland capture water
fisheries.

7.9. CREDIT GUARANTEE SCHEME FOR THE The Department of Animal Husbandry and
LIVESTOCK SECTOR Dairying (DAHD), Ministry of Fisheries, Animal
Husbandry and Dairying has launched the
first-ever Credit Guarantee scheme for the
livestock sector.

● Read about AHIDF ?

● Read the facts given in Box.

It will be under the Animal Husbandry

Infrastructure Development Fund (AHIDF).

7.10. NATIONAL TURMERIC BOARD ● In which State is it notified? Q. Find correct about “Tea Board” in India:
● Work under the Ministry of Commerce. 1. The Tea Board is a statutory body.
● APEDA ? 2. It is a regulatory body attached to the Ministry of
Agriculture and Farmers Welfare.
Statutory Commodity Boards → Tea Board, Spices 3. The Tea Board’s Head Office is situated in
Board, Tobacco Board, Coffee Board, Rubber Bengaluru.
Board 4. The Board has overseas offices at Dubai and
Moscow.
(a) 1 and 3
(b) 2 and 4
(c) 3 and 4
(d) 1 and 4

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7.11. NATIONAL BANK FOR AGRICULTURE AND ● Read about NABARD. Q. Who grants direct credit assistance to rural
RURAL DEVELOPMENT ● Social Impact Bond (SIB) households? (UPSC 2013)
(NABARD) ● All India Financial Institutions (AIFI) - 1) RRB 2) NABARD 3) Land Development Banks
NABARD, SIDBI, NHB & EXIM (a) 1 and 2 only
(b) 2 only
(b) 1 and 3 only
(d) 1, 2 and 3

7.12. INDIAN COUNCIL OF AGRICULTURAL ● About ICAR ?

RESEARCH (ICAR)
India developed the first cloned buffalo in the
world and Pratham, the world’s first in-vitro
fertilized buffalo calf.

8.1. THE MINES AND MINERALS (DEVELOPMENT ● Read about Major and Minor Minerals (Very Q. What is the purpose of 'District Mineral
AND REGULATION) Important) Foundations' in India? (UPSC 2016)
AMENDMENT ACT, 2023 ● How many times has the act been amended? 1. Promoting mineral exploration activities in
● Seventh Schedule of the MMDR Act. mineral-rich districts
● Mining Lease: 2. Protecting the interests of the persons affected by
● Omitted 6 minerals from the list of 12 atomic mining operations
minerals. 3. Authorising State Governments to issue licences for
● Who will give what type of licence? (Union mineral exploration
and State) (a) 1 and 2 only
● District Mineral Foundations ? (b) 2 only
(c) 1 and 3 only
(d) 1, 2 and 3
Minor minerals = Their legislation, royalty,
administrative work is delegated to the States’ Q. Find correct statement(s) about minor minerals in
domain e.g. Sand, Mica, Marble, Granite, Agate, India: (Prelims-2019)
Chalk, Gypsum, Shale etc. 1. Sand is a ‘minor mineral’ according to the prevailing
law in the country.
Major minerals = Any mineral that is not in Minor 2. State Governments have the power to grant mining
mineral list is called ‘Major Mineral’ → Union’s leases of minor minerals, but the powers
domain e.g. atomic minerals, bauxite, iron, coal, regarding the formation of rules related to the grant of
petroleum, natural gas etc minor minerals lie with the Centre Govt.
3. State Governments have the power to frame rules

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 to prevent illegal mining of minor minerals.
(a) 1 and 3 only
(b) 2 and 3 only
(c) 3 only
(d) 1, 2 and 3 only
Q. Which of the following are designated as major
minerals? 1) Bentonite 2) Chromite 3)
Kyanite 4) Sillimanite (Prelims-2020)
a) 1 and 2 only
b) 4 only
c) 1 and 3 only
d) 2, 3 and 4 only

8.2. CRITICAL MINERALS ● What are Critical Minerals?

30 critical minerals, including 17 Rare Earth

Elements(REEs) and 6 Platinum- Group Elements
(PGE)

8.3. OFFSHORE AREAS MINERAL ● What is Offshore mining ?

(DEVELOPMENT AND REGULATION)
AMENDMENT ACT, 2023 Mining of atomic minerals: Exploration,
production, and composite licences will be
granted only to the government or government
companies.

Offshore Areas Mineral Trust: Will manage funds

under the Public Account of India that will be non-
lapsable in nature.

8.4. NATIONAL GEOSCIENCE DATA REPOSITORY ● Who launched it ?

PORTAL (NGDRP) ● What is it all about ?
● Geological Survey of India?
● Indian Bureau of Mines

8.5. SPECIAL ECONOMIC ZONES (SEZ) ● What is SEZs?

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8.6. PRODUCTION-LINKED INCENTIVES (PLI) ● About the PLI scheme ? Benefits ? Q. Statement-I: India accounts for 3.2% of global
SCHEME ● Sectors under PLI Scheme? exports of goods.
Statement-II: Many local companies and some foreign
companies operating in India have taken
advantage of India’s ‘Production-linked Incentive’
scheme. (Prelims-2023)
(a) Both I and II are correct and statement II is the
correct explanation for statement I
(b) Both I and II are correct and statement II is not the
correct explanation for statement I
(c) I is correct but II is incorrect
(d) I is incorrect but II is correct

8.6.1. PLI 2.0 FOR IT HARDWARE SCHEME Related to Ministry of Electronics & IT (MEITY)

8.7. SEMICONDUCTOR INDUSTRY IN INDIA ● Semicon India Programme ?

● Design Linked Incentive Scheme ?

Major Producer: Presently, Taiwan is the world

leader in manufacturing microchips with
producing over 60% of the world's
semiconductors and over 90% of the most
advanced ones.

8.8. NATIONAL PHARMACY COMMISSION BILL ● Just see the box (Facts about Pharmacy
2023 Sector )
● Pharmacy Council of India (PCI)

8.9. NATIONAL MEDICAL DEVICES POLICY, 2023 Not Prelims Worthy

Help the medical devices sector grow from

present $11 Bn to $50 Bn by 2030.

Indian industry is currently the 4th largest Asian

medical devices market after Japan, China and
South Korea.

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9.1. DIGITAL PUBLIC INFRASTRUCTURE (DPI) India launched the Global Digital Public Q. Which of the following are India's G20 priorities?
Infrastructure Repository and a Social Impact (CAPF-2023)
Fund, during the Virtual G20 Leaders’ Summit. 1. Green Development
2. Women-led Development
● What is the Global Digital Public Infrastructure 3. Climate Finance 4. Digital Public Infrastructure
Repository (GDPIR) ? a) 1 and 2 only
● What is Social Impact Fund (SIF) b) 1, 2 and 3 only
c) 3 and 4 only
● What is Digital Public Infrastructure (DPI) d) 1, 2, 3 and 4
● Digital India ?
Q. Consider the following statements about G-20:
G20 Summit- India's priorities (SIX:6) (Prelims-2023)
1. Green Development, Climate Finance & LiFE 1. The G-20 group was originally established as a
2. Accelerated, Inclusive & Resilient Growth platform for the Finance Ministers and Central
3. Accelerating Progress on SDGs Bank Governors to discuss the international economic
4. Technological Transformation & Digital Public and financial issues.
Infrastructure 2. Digital public infrastructure is one of India’s G-20
5. Multilateral Institutions for the 21st century priorities.
6. Women-led Development a) 1 only
b) 2 only
c) Both 1 and 2
d) Neither 1 nor 2

9.2. NATIONAL LOGISTICS POLICY (NLP) Read Only Given Below:

Targets of NLP
● Reduce cost of logistics in India to global
benchmarks by 2030.
● Improve the Logistics Performance Index
ranking – and be among top 25 countries by
2030.
● Create data driven decision support
mechanism for a logistics ecosystem.

9.2.1. LEADS REPORT 2023 ● What is LEADS?

● Ranking and Dimensions ?

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 World Bank’s Logistics Performance Index.

The Ministry of Commerce and Industry unveiled

the Logistics Ease Across Different States
(LEADS) Report 2023.

9.3. PM GATI SHAKTI INITIATIVE ● What is it all about ?

● 6 Pillars of PM GATI SHAKTI.
● National Master Plan Digital Portal?

9.4. DEDICATED FREIGHT CORRIDORS (DFCS) ● See the map given.

Implementing agency: Dedicated Freight Corridor

Corporation of India Limited
(DFCCIL). It is a wholly owned enterprise of the
Ministry of Railways set up in 2006 for the
construction, maintenance, and operation of
DFCs.

9.5. REGIONAL RAPID TRANSIT SYSTEM (RRTS) ● Read about the RRTS Project?
PROJECT
First Regional Rapid Transit System (RRTS) was
launched with Namo Bharat RapidX train running
from Sahibabad to Duhai Depot in Uttar Pradesh.

9.5.1. KOCHI WATER METRO ● About Kochi Water Metro - India's first
water-based metro, Kochi Water Metro

● Lithium Titanate Oxide (LTO) batteries

● Ro-Ro (roll-on, roll-off) ferry service
● Kolkata underwater metro-tunnel

9.6. NATIONAL COMMON MOBILITY CARD (NCMC) ● One Nation, One Card
● What is it used for ?
● Who developed it ?

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 ● Features?

9.7. MARITIME AMRIT KAAL VISION 2047 ● Just Know broad 11 themes.

9.7.1. GREEN PORT GUIDELINES 2023 ● What is Harit Sagar?

The Ministry of Ports, Shipping & Waterways

(MoPSW) launched ‘Harit Sagar’ the Green Port
Guidelines 2023.

9.8. RAILWAY SAFETY IN INDIA ● Commission of Railway Safety (CRS) -

Ministry: Ministry of Civil Aviation
● Bridge Management System (BMS)
● About Kavach

Indian Railways is the World’s 4th largest railway

network, after the US, China, and Russia.

9.9. BHARAT NEW CAR ASSESSMENT PROGRAM ● What is it used for ?

(BHARAT NCAP) ● Testing will be voluntary or mandatory?
● Dakar Declaration
● Global NCAP vs Bharat NCAP Criteria.

Vehicles tested and evaluated on a five-star

rating scale as per Automotive Industry Standard
(AIS) 197.

9.10. FUNCTIONING OF MAJOR PORTS IN INDIA ● Major Ports vs Minor Ports 1. Kamarajar Port : First major port in India registered
● Ports Features? as a company
● Major Ports - In Which List And Who 2. Mundra Port : Largest privately owned port in India
Regulates? 3. Visakhapatnam Port : Largest container port in
● Minor Ports - In Which List And Who India (2023)
Regulates? (a) Only one pair
(b) Only two pairs
(c) All three pairs
(d) None

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10.1. INSURANCE SECTOR ● Bima Trinity ?
● IRDAI?
● Bima Sugam Portal ?
● Current Status of the Insurance Sector in
India ?
● FDI limits in Insurance ?
● Insurance Penetration ?
● Insurance Density ?

10.1.1. INSURANCE REGULATORY AND ● Read about IRDAI.

DEVELOPMENT AUTHORITY OF INDIA (IRDAI) ● Insurance Surety bonds ?

10.2. MEDICAL AND WELLNESS TOURISM Just Read What Is Given Below:

New category of AYUSH visa for foreign nationals for

treatment under AYUSH systems of medicine.

AYUSH is an acronym for Ayurveda, Yoga and

Naturopathy, Unani, Siddha and Homeopathy;
however, it also includes other traditional and
non-conventional health care systems such as Sowa
Rigpa, etc.

10.3. OPEN NETWORK FOR DIGITAL COMMERCE Network Operations and Compliance System
(ONDC) (NOCS) platform was launched for ONDCs

● Read about ONDCs?

● ONDCs launched by?

11.1. NATIONAL ELECTRICITY PLAN (NEP) Central Electricity Authority has notified the
National Electricity Plan for 2022-32.

● See the box given about Contribution of

Energy Sources ?
● About Central Electricity Authority (CEA)
● Bureau of Energy Efficiency
● ONE NATION-ONE GRID

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 ● Saubhagya Scheme

11.1.1. INTER-STATE TRANSMISSION SYSTEM What Is OffShore Wind Power?

(ISTS) CHARGES

11.1.2.1. FINANCIAL INCENTIVES TO STATES FOR Not Prelims Worthy.

REFORMS IN THE POWER SECTOR

11.1.2.2. MARKET COUPLING What Is Market Coupling? Basic Concept?

11.1.2.3. ELECTRICITY (RIGHTS OF CONSUMERS) Not Prelims Worthy.

AMENDMENT RULES, 2023
● Just Know What Is the Time Of Day (Tod)
Tariff?

11.1.2.4. HIGH PRICE DAY AHEAD MARKET AND ● Pushp Portal is related to ?
SURPLUS POWER PORTAL (PUSHP PORTAL) ● Ministry?

11.2. NATIONAL GAS GRID ● About Natural Gas Q. Find correct statements: (UPSC 2019)
● National Gas Grid 1. Petroleum Natural Gas Regulatory Board (PNGRB)
● About Petroleum and Natural Gas Regulatory is the first regulatory body set up by the Govt.
Board (PNGRB) 2. One of the tasks of PNGRB is to ensure competitive
markets for gas.
3. Appeals against the decisions of PNGRB go before
the Appellate Tribunals of Electricity.
(a) 1 and 2 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) 1,2 and 3

12.1. CORPORATE SOCIAL RESPONSIBILITY ● What is CSR?

(CSR) ● CSR applicable to whom?

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 ● Section 135 of the Companies Act, 2013
● Companies (CSR Policy) Amendment Rules,
2022

Companies need to spend a minimum 2% of its

average net profit for its preceding three financial
years’ amount on CSR activities.

CSR mandated companies are required to file

details of CSR activities annually in MCA21
registry.

12.1.1. INDIAN COMPANIES ON INTERNATIONAL ● (IFSC) / GIFT CITY

FINANCIAL SERVICES CENTRE ● Taxation norm@Gift City
(IFSC) ● IFSCA Authority
● ADR & GDR

Presently, Indian companies cannot directly list

their securities abroad without getting themselves
listed in domestic stock exchanges.

In 2020, Centre amended Companies Act, allowing

direct listing of Indian companies on foreign stock
exchanges

Currently, Indian companies can raise money

abroad through American Depository Receipts
(ADR) and Global Depository Receipts (GDR).

12.2. COMPETITION (AMENDMENT) ACT 2023 ● Competition Act 2002 (Just know basic)
● About Competition Commission of India

Amended Rules -
Appointment of Director General (DG): As per the
CAA, the DG shall now be appointed by the CCI
with prior approval of the Central Government as

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 against the erstwhile power being vested with the
Central Government.

12.3. JAN VISHWAS (AMENDMENT OF Not Prelims Worthy.

PROVISIONS) ACT, 2023
Just know - The Act aims to give a boost to ease
of living and ease of doing business.

12.4. TRANSFER PRICING ● About General Anti-Avoidance Rules (GAAR) Q. Which one of the following situations best reflects
● What is Transfer Pricing? “Indirect Transfers” often talked about in
● What is ITAT? media recently with reference to India? (2022)
● What is Arm’s Length Principle (ALP) - Its (a) An Indian company investing in a foreign
objective is to avoid the erosion of the tax enterprise and paying taxes to the foreign country on
base or the transfer of profits to low-tax the profits arising out of its investment
jurisdictions. (b) A foreign company investing in India and paying
taxes to the country of its base on the profits arising
out of its investment
(c) An Indian company purchases tangible assets in a
foreign country and sells such assets after their value
increases and transfers the proceeds to India
(d) A foreign company transfers shares and such
shares derive their substantial value from assets
located in India

Q. Quantified Domestic Minimum Top-up Tax' is a term

related to (EPFO-2023)
a) Global Anti-Base Erosion Rules
b) Prevention of Money Laundering
c) Regulation of Crypto-currency
d) Virtual Digital Asset Transactions

12.5. GLOBAL INNOVATION INDEX (GII) 2023 ● Who publishes this Index?
● India Ranking?
● Criteria to measure Innovation?
● About the World International Property
Organization (WIPO) ?
Major Treaties (India is a member of all three):

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 1. Paris Convention for the Protection of
Industrial Property (1998)
2. Berne Convention for the Protection of
Literary and Artistic Works (1928)
3. Patent Cooperation Treaty (1998)

12.6. STARTUPS IN INDIA ● Definition and Criteria of Startups ? Q. Which of the following statements about a 'unicorn'
Related to DPIIT (Min of Commerce) is/are correct? (EPFO-2023)
● Unicorn Company 1. The term 'unicorn' refers to any startup that reaches
● SAMRIDH SCHEME the valuation of $10 billion.
● Design Linked Incentive (DLI) for 2. Only a privately held startup can be a unicorn.
Semiconductor Chips (a) 1 only
● Angel Tax (b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2

12.7. BUREAU OF INDIAN STANDARDS (BIS) ● What is the Bureau of Indian Standards Q. Which of the following statements regarding the
(BIS)? Ministry ? clay based non-electric cooling cabinet, for which the
● Which products under Compulsory Bureau of Indian Standards (BIS) has recently
certification (ISI) in India ? developed an Indian Standard (Is 17693: 2022), is/are
● Different Certification in India ? correct? (EPFO-2023)
1) It is a natural refrigerator to store vegetables, fruits,
milk and also for cooling water.
2) This standard helps BIS in fulfilling 6 out of 17
United Nations Sustainable Development Goals.
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2

Q. Find correct statement(s):(2018)

1) The Food Safety and Standards Act, 2006 replaced
the Prevention of Food Adulteration Act, 1954.
2) The Food Safety and Standards Authority of India
(FSSAI) is under the charge of Director General of
Health Services in the Union Ministry of Health and

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 Family Welfare.
(a) 1 only
(b)2 only
(c) Both 1 and 2
(d) Neither 1 nor 2

Q. Consider the following statements: (2017)

1. The Standard Mark of the Bureau of Indian
Standards (BIS) is mandatory for automotive tyres and
tubes.
2. AGMARK is a quality Certification Mark issued by
the Food and Agriculture Organisation (FAO).
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2

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