6) Indian Economy – Previous Year Questions UPSC Prelims (1995-2025)

Last Updated on November 5, 2025 by Admin

Indian Economy Previous Year Questions – Topic Wise

Topic-Wise Analysis of Indian Economy PYQs

About Indian Economy PYQs

This is the most important of all the subjects in the UPSC Prelims exam. The subject-wise analysis suggests that around 22 questions are asked about Indian Economy each year. And in years 2016, 2017, 2018 & 2019 UPSC has consistently asked 25+ questions from Indian Economy.

Again, similar to Indian Polity, only 3-4 questions are from current affairs. Rest of the questions are from static and conceptual topics. As you can see below, there is a lot of emphasis on RBI functions like inflation management, money supply, balance of payment etc. including Indian banking system. Every year, around 6-8 questions are from these few topics alone. So it must be done very well.

Once again, economy is the most important of all the Prelims subjects. Do it very well. Having good understanding of economy is a great advantage, and being poor at economy is just not recommended.

Indian Economy-Detailed Topic Wise Syllabus Based on PYQs

A) Macroeconomy

Indian economy, macroeconomic concepts, growth, GDP, GNP, PPP, supply-demand, recession and other related terms etc.

B) Government Budgeting and Govt. Accounts

Government budget and economic survey, govt. expenditure, deficit, govt. debt and debt financing, other issues related to Indian public finance, various govt. accounts related to finance etc. 

C) Taxation System in India

GST and previous taxation systems for goods and services, various tax slabs, the impact of GST, corporate tax, income tax, tax evasion etc. 

D) Functions of RBI – Money Supply, Monetary Policy, Forex Mgt & Balance of Payment

Various functions of RBI – particularly – money supply, currency management, management of inflation and associated monetary policy,  various monetary policy tools (SLR, CRR, OMO, Repo and other related rates etc. ), various inflation indices in India, forex reserve management, convertibility of rupee and exchange rate management, current account and capital account (Balance of Payment) 

E) RBI and Indian Banking and Finance System

Internal working of RBI, posts, appointments, tenure, history of RBI etc., Banking, finance and insurance sector, various issues and initiatives related to the banking/finance/insurance sector, financial inclusion, management of banking and finance sector by RBI, associated laws, guidelines, international initiatives e.g. BASEL guidelines etc., Payment ecosystem in India.

F) Capital Market, Money Market and FDI

Capital market and money market in India, various instruments of capital/money market e.g. govt. Bonds, T bills, participatory notes, equity etc., their meanings, provisions etc. Indian stock market, SEBI, Foreign Direct Investment, govt. provisions/guidelines related to FDI.

G) Industries

The industrial sector in the Indian economy including minerals, power and electricity, public sector enterprises, other terms and acts related to the management of industries and companies, various indices, govt. Bodies or acts regarding the Industrial sector etc. SEZ

H) International Trade

International trade, import and export, the volume of trade, various components of trade, major items of import-export, India’s EXIM policy – associated bodies, acts/ regulations etc.

I) International Economic Organizations

WTO, IMF, World Bank, ADB, AIIB, G20, ILO, UN-CTAD and other international organizations/groupings dealing with economic and developmental issues.

J) Population and Demography

Population, census data, various demographic indicators e.g. literary rates, male: female ratio, mortality rates etc. other population-related policies and significant issues.

K) Poverty, Development, Health and Education

Poverty and its alleviation, health and sanitation, food security, subsidies, issues related to gender, education, inclusive growth and development

L) Employment and Skill Development

Employment and unemployment, skill-development-related initiatives, rozgar yojana etc.

M) Agriculture

Agriculture and production, land reforms, MSP and food grains procurement, govt. schemes/initiatives for agriculture and allied activities.

N) Economic Institutions, Laws and Policies

The topic deals with govt. bodies/institutions dealing with economic and developmental issues, laws and policies related to the same and recent developments in these.

O) Five Year Plans

Various five-year plans, their objectives, achievements etc.