Goal for Today
Revise core Economy topics (GDP, Inflation, Banking, Budget, Economic Survey). Solve 25 MCQs to reinforce learning. Focus on conceptual clarity + current affairs.
Study Plan for Day 23
6-Hour Study Schedule
| Time Slot | Topic | Tasks |
|---|---|---|
| 6:00 AM – 7:30 AM | GDP & Growth | Read GDP, GNP, NNP, NDP, Growth vs. Development (NCERT + Economic Survey) Learn about GDP Calculation Methods (Real, Nominal, PPP) Note down key economic indicators from Budget 2024-25 |
| 7:30 AM – 8:00 AM | Break | Short walk or meditation |
| 8:00 AM – 9:30 AM | Inflation & Banking | Study Types of Inflation (Demand-Pull, Cost-Push, Core Inflation) Understand RBI’s Inflation Targeting & Monetary Policy Tools (CRR, SLR, Repo Rate, Reverse Repo, OMO) Read about Banking Structure (RBI, NBFCs, Commercial Banks, Digital Payments, UPI) |
| 9:30 AM – 10:00 AM | Break | Have a light meal & relax |
| 10:00 AM – 11:30 AM | Budget & Economic Survey | Read Key Highlights of Budget 2024-25 (Focus on allocations & fiscal deficit) Study Economic Survey (Growth Sectors, MSMEs, Infrastructure, Exports) Make summary notes on major schemes |
| 11:30 AM – 12:00 PM | Break | Refresh yourself before MCQs |
| 12:00 PM – 1:00 PM | MCQ Practice (25 Questions) | Solve 25 Economy MCQs (UPSC Level) Analyze mistakes & revise weak areas |
Key Takeaways from Today’s Study
GDP & Growth
GDP Calculation Methods: Production, Expenditure, Income Approach Real vs. Nominal GDP – Inflation-adjusted values Base Year for GDP Calculation – 2011-12 HDI, GINI Coefficient – Growth vs. Development
Inflation & RBI Policies
Types of Inflation: Demand-Pull, Cost-Push, Stagflation Monetary Policy Tools: Repo Rate, Reverse Repo, CRR, SLR, OMO CPI vs. WPI – What RBI follows for inflation targeting?
Banking & Financial Sector
Commercial Banks vs. NBFCs UPI, Digital Banking, Financial Inclusion (PM Jan Dhan Yojana, MUDRA, BHIM)
Budget 2024 & Economic Survey
Fiscal Deficit Target & Key Allocations Key Schemes: PM Awas Yojana, Atmanirbhar Bharat, PLI Schemes
MCQs – Self-Check (Sample Questions)
Which of the following is NOT included in GDP calculation?
a) Farmer’s production
b) Stock market transactions
c) Government spending
d) Private consumption
If RBI increases Repo Rate, what is the likely impact?
a) Loans become cheaper
b) Inflation decreases
c) More money supply
d) No impact on economy
Which index is used by the RBI for inflation targeting?
a) WPI
b) CPI-Combined
c) Core Inflation
d) GDP Deflator
What does ‘Fiscal Deficit’ mean?
a) Government spending > Revenue
b) Government revenue > Spending
c) Total public debt
d) External borrowing
Which of the following is a Direct Tax?
a) GST
b) Corporate Tax
c) Customs Duty
d) Excise Duty
Try solving these before checking answers!
Summary & Next Steps
Concepts Covered: GDP, Inflation, Banking, Budget, Economic Survey Tasks Completed: Notes, 25 MCQs, Current Affairs Review Next Day: Day 24 – Mock Test on Environment, Science & Economy
Disclaimer
This study plan is designed for UPSC Prelims aspirants following a 100-day preparation strategy with 6 hours of daily study. It is based on standard sources like NCERTs, Economic Survey, Budget, and UPSC PYQs. Adapt as per your strengths and weaknesses.
Stay Consistent & Believe in Yourself! 
Useful Links
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