
π Goal for Today
β Revise core Economy topics (GDP, Inflation, Banking, Budget, Economic Survey).
β Solve 25 MCQs to reinforce learning.
β Focus on conceptual clarity + current affairs.
π Study Plan for Day 23
π 6-Hour Study Schedule
Time Slot | Topic | Tasks |
---|---|---|
6:00 AM – 7:30 AM | GDP & Growth | β Read GDP, GNP, NNP, NDP, Growth vs. Development (NCERT + Economic Survey) β Learn about GDP Calculation Methods (Real, Nominal, PPP) β Note down key economic indicators from Budget 2024-25 |
7:30 AM – 8:00 AM | Break | β Short walk or meditation |
8:00 AM – 9:30 AM | Inflation & Banking | β Study Types of Inflation (Demand-Pull, Cost-Push, Core Inflation) β Understand RBI’s Inflation Targeting & Monetary Policy Tools (CRR, SLR, Repo Rate, Reverse Repo, OMO) β Read about Banking Structure (RBI, NBFCs, Commercial Banks, Digital Payments, UPI) |
9:30 AM – 10:00 AM | Break | β Have a light meal & relax |
10:00 AM – 11:30 AM | Budget & Economic Survey | β Read Key Highlights of Budget 2024-25 (Focus on allocations & fiscal deficit) β Study Economic Survey (Growth Sectors, MSMEs, Infrastructure, Exports) β Make summary notes on major schemes |
11:30 AM – 12:00 PM | Break | β Refresh yourself before MCQs |
12:00 PM – 1:00 PM | MCQ Practice (25 Questions) | β Solve 25 Economy MCQs (UPSC Level) β Analyze mistakes & revise weak areas |
π Key Takeaways from Today’s Study
1οΈβ£ GDP & Growth
πΉ GDP Calculation Methods: Production, Expenditure, Income Approach
πΉ Real vs. Nominal GDP β Inflation-adjusted values
πΉ Base Year for GDP Calculation β 2011-12
πΉ HDI, GINI Coefficient β Growth vs. Development
2οΈβ£ Inflation & RBI Policies
πΉ Types of Inflation: Demand-Pull, Cost-Push, Stagflation
πΉ Monetary Policy Tools: Repo Rate, Reverse Repo, CRR, SLR, OMO
πΉ CPI vs. WPI β What RBI follows for inflation targeting?
3οΈβ£ Banking & Financial Sector
πΉ Commercial Banks vs. NBFCs
πΉ UPI, Digital Banking, Financial Inclusion (PM Jan Dhan Yojana, MUDRA, BHIM)
4οΈβ£ Budget 2024 & Economic Survey
πΉ Fiscal Deficit Target & Key Allocations
πΉ Key Schemes: PM Awas Yojana, Atmanirbhar Bharat, PLI Schemes
π MCQs β Self-Check (Sample Questions)
1οΈβ£ Which of the following is NOT included in GDP calculation?
a) Farmerβs production
b) Stock market transactions
c) Government spending
d) Private consumption
2οΈβ£ 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
3οΈβ£ Which index is used by the RBI for inflation targeting?
a) WPI
b) CPI-Combined
c) Core Inflation
d) GDP Deflator
4οΈβ£ What does βFiscal Deficitβ mean?
a) Government spending > Revenue
b) Government revenue > Spending
c) Total public debt
d) External borrowing
5οΈβ£ Which of the following is a Direct Tax?
a) GST
b) Corporate Tax
c) Customs Duty
d) Excise Duty
π Try solving these before checking answers!
π― Summary & Next Steps
β Concepts Covered: GDP, Inflation, Banking, Budget, Economic Survey
β Tasks Completed: Notes, 25 MCQs, Current Affairs Review
β Next Day: Day 24 β Mock Test on Environment, Science & Economy
β οΈ 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.
π’ Stay Consistent & Believe in Yourself! π
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