RPSC RAS Mains Exam Paper-I:Unit II-Part A- Indian Economy: Rajasthan Administrative Services Mains Exams Indian Economy Study Material. RAS Mains Study Notes
- Major Sectors of Economy: Agriculture, Industry & Service- Current Status, Issues and Initiatives
- Banking: Concept of Money supply & High Powered Money. Role and Functions of Central Bank & Commercial Banks, issues of NPA, Financial Inclusion. Monetary Policy- Concept, objectives & Instruments
- Public Finance: Tax reforms in India- Direct & Indirect, subsidies- Cash Transfer and other related issues. Recent Fiscal Policy of India
- Recent Trends in Indian Economy: Role of Foreign Capital, MNCs, PDS, FDI, Exim Policy, 12th Finance Commission, Poverty alleviation schemes.
The Indian economy was in distress at the brink of the country’s independence. Being a colony, she was fulfilling the development needs not of herself, but of a foreign land. The state, that should have been responsible for breakthroughs in agriculture and industry, refused to play even a minor role in this regard. On the other hand, during the half century before India’s independence, the world was seeing accelerated development and expansion in agriculture and industry – on the behest of an active role being played by the states.
India has the world’s sixth largest economy in measures of GDP. It has the third largest purchasing power in the world. When we talk about the global economy, India is one of its fastest emerging players. Since our liberalization in 1991, the economy has opened up and given us plenty of opportunities to succeed. RAS Mains Study Notes