📌 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
1️⃣ 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
2️⃣ 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?
3️⃣ Banking & Financial Sector
🔹 Commercial Banks vs. NBFCs
🔹 UPI, Digital Banking, Financial Inclusion (PM Jan Dhan Yojana, MUDRA, BHIM)
4️⃣ Budget 2024 & Economic Survey
🔹 Fiscal Deficit Target & Key Allocations
🔹 Key Schemes: PM Awas Yojana, Atmanirbhar Bharat, PLI Schemes
📊 MCQs – Self-Check (Sample Questions)
1️⃣ Which of the following is NOT included in GDP calculation?
a) Farmer’s production
b) Stock market transactions
c) Government spending
d) Private consumption
2️⃣ 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
3️⃣ Which index is used by the RBI for inflation targeting?
a) WPI
b) CPI-Combined
c) Core Inflation
d) GDP Deflator
4️⃣ What does ‘Fiscal Deficit’ mean?
a) Government spending > Revenue
b) Government revenue > Spending
c) Total public debt
d) External borrowing
5️⃣ 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
👉 📅 Previous Day’s Plan (Day 22 – Science & Tech Revision): Click Here
👉 📘 Complete 100-Day UPSC Preparation Plan: Click Here
👉 🎥 Subscribe to My YouTube Channel – BNC Academy: Click Here
🔥 Keep Going! UPSC Success is One Step Closer! 🚀