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Indian Economy By Ramesh Singh For UPSC CSE – Chapter 1 | Part -1 (In English) – Free PDF Download



  • More than a dismal science  
  • Defining economics
  • Micro and macro
  • What is an economy

List of Prime Ministers of India

More than a dismal science

  • Economics called a dismal science
  • Highlighted as a depressing and poor science
  • Called a failed science (sub prime crisis 2008)
  • Invaluable role of economics in world

List of President of India

Defining economics

  • A dialogue which studies economic activities of the human being
  • All activities where money is involved is economic activity
  • Economy is also how society uses its scarce resources
  • All activities concerned with profit, loss livelihood, occupation, wage, employment , etc.…. Are economic activities.

National Symbols of India

Micro and macro

  • After the great depression economics divided in to two : micro and macro economics
  • Father of macro economics :john maynard keynas
  • Micro : bottom up approach
  • Macro : top down approach
  • Micro deals with choice of consumers and their income
  • Macro deals with dynamics of inflation and growth
  • Both appear to be different but actually interdependent
  • Econometrics is core area other than micro and macro

List of States and Capitals of India

Economics and economy


  • Decision making
  • Theoretical concept
  • Studies behaviour


  • Defined territory
  • Practical application
  • Economic affairs

What is an economy

  • Economy is the economics in action

                             Sectors of economy

WW.Rostows perspective

  • Economies grow through five linear stages through three major sectors like agriculture industry services
  • Country’s like india Philippines Thailand Vietnam are exceptions

sectors in india



Economy Survey 2022 | Free PDF


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