Indian Economy

Week

Items

Title of Video and Reading text/Lecture/ppt

First Week

Evolution of the Indian Economy

Introduction to Indian Economy: Meaning of Underdeveloped economy, Structure of Indian Economy, Basic characteristics of Indian Economy as Developing Economy, Major Issues of Development

Indian Economy on the Eve of Independence: Major features of the Indian economy at independence, Land System and its changes, Commercialization of agriculture,

Indian Economy after Independence: Features, Indian Agriculture, Indian Industry, Infrastructure

Basic Problems of Indian Economy: Reasons for underdeveloped country, Population, Unemployment and Underemployment, Inequality of Incomes and wealth, Poverty, Rise in prices in country

Second Week

National Income

The Idea of National Income: Features of National Income of India, GNP, NNP, GDP, NDP, National Income at factor cost, personal income, disposable income

Measurement of National Income: Production or Output method, Income method, Expenditure method

Difficulties in National Income Measurement: Parallel Economy, Estimates, Consequences of parallel economy,

Trends in National Income Growth and Structure: National Income estimates based on new series, Limitations of National Income estimations in India

Third Week

Agricultural Development and Policy

Indian Agriculture: Role of agriculture in Indian Economy, Nature of India’s Agriculture, Cropping Pattern in India, Factors determining crop pattern, Distribution of Crops in India.

Agricultural Development since Independence: Place of agriculture in Indian Economy, Progress of agriculture under the five-year plans, Causes for the low yield in agriculture, New agricultural strategy, Green Revolution and Present position of Indian Agriculture

Land Reforms:The need and scope for land reforms in a developing economy, The abolition of intermediaries, tenancy reforms, An assessment of land reforms

Agricultural price policy: Trends in agricultural prices, need for agricultural prices policy, Agricultural price policy in India, Evaluation of Government’s agricultural price policy

Fourth Week

Industrial Development and Policy along with Infrastructure development

Industrial Development: The role of Industrialization, Need for Industrialization in India, Features of the industrial structure in India, Progress of Industries under the five years plan

Some Major Industries in India: Iron and Steel, Jute Industry, Textile industry Sugar Industry, Cement Industry, Industrial Sickness in India: Definition, Causes, Consequences, remedial measures

Industrial Policy: Industrial policy prior to 1991, Review of Pre 1991 industrial policy and liberalization trends, New Industrial policy 1991, Appraisal of new industrial policy

Development of Infrastructure: Energy, Power, Transportation system (different modes), Communication System and Social Infrastructure.

Fifth Week

International Trade

The Foreign Trade of India: Importance of Foreign trade for a developing economy, Foreign trade since independence, composition of India’s foreign trade, Direction of India’s foreign trade

India’s Balance of Payment: Meaning, India’s balance of payment, capital account, financing the deficit, solution of balance of payment problems

Trade policy of the Government of India: Import Policy- the Pre performance period, Export Policy the Pre performance period, New trade policy – the reforms period

Foreign Regulatory Act: FERA, FEMA, FEMA a major departure from FERA

Sixth Week

Financial System in India

Indian Currency System: Indian currency system today, money supply with the public in India, Narrow and Broad money, India’s Foreign Exchange Reserves, Convertibility of the rupee – Current and Capital account

Indian Banking System: Nationalization of banks in India, Functions of RBI, A Critical evaluation of Commercial banks, Indian financial system- an overview, Indigenous bankers, Progress of Banking in India since 1969, Profitability of Banks in India, Narasimhan Committee (1991) on the banking system in India

Indian Money Market: Unorganized and organized sector of Indian Money market, Characteristics, Composition of Money market, Underdevelopment of money market in India, The reforms of Indian money market, The evolution of Bill Market in India,

Indian Capital Market: Structure of capital Market, Role of capital in India’s industrial growth, Demand for and Supply of Long-term funds, Constituents of the Indian Capital Market, Stock Exchanges in India, Stock market boom and crash

Case Study - Dynamic Expansion - A Case Study of ABC Ltd’s Capital Market Journey

Seventh Week

Public Finance

The Indian Tax Structure: Tax burden in India, Tax Revenue of the central and State Government, Taxes on Income and Wealth, Indirect taxation, Evolution of Indian tax structure, Tax reforms since 1991.

Case Study - Navigating Tax Reforms - A Case Study on XYZ Corporation in the Indian Tax Landscape

Budget: Revenues and Expenditure of Central Government, Budgets of state government, Revenue and Expenditure of State Government, Trends in Revenue and Expenditure central and state government, Glimpse of current Union budget

Financial relations between the Central and States: Financial relations under the constitution Centre and state financial relations, Centre and state conflict on finance.

Public Debt in India: Debt obligation of the central and state government, the role of debt finance, public debt problems and issues, liquidation of public debt.

Case Study - Green Finance in Telangana

Eighth Week

Human Development in India

India’s Population: Meaning of population explosion, Population in India, Size and growth rate, Causes of the rapid growth of population, the problems of overpopulation, remedies for population explosion, Population and economic development.

Demographic Issues: The sex composition of the population, Age composition, the density of population, urbanization and economic growth in India, Migration of rural population to urban areas in India.

Human Resource Development: Indicators of HRD, Importance of HRD, National Human Development Report, Progress of HRD in India

Labour Force Growth and Occupational Pattern: Labour force growth in India, Occupational Structure and economic development, Occupational distribution of labour force in India, Work force participation rates in India.

Ninth Week

Economic Problems

Poverty: The concept of poverty, Studies of poverty in India, Economic reforms and reduction of poverty, solutions of the problems of poverty

Unemployment in India: Nature of unemployment, estimates of unemployment in India, various schemes to reduce unemployment and underemployment, Structure of employment in India, quality of employment.

Parallel Economy in India: Parallel economy and objectives of planning, estimates of black income in India, Impact of black incomes on the economy and social system, factors responsible for generation of black money, evolution of a policy package to control parallel economy

Prices, Price policy and Economic growth: Price movement since independence, causes for rise of prices in India, Control of inflation in India, Recent rise in prices and the common man

Case Study - A Recent Price Rise in LPG in India: An Analysis

Tenth Week

Economic Planning, Policy and Development

Economic Planning: The rationale of planning, importance features of Indian Plans, Objectives of economic planning, Evaluation of the objectives of economic planning

Assessment of Indian Planning: India’s five-year plans- basic approach, targets and achievements of plan, accomplishment of economic planning, an appraisal of the planning processes

Economic reforms and liberalization: The origin of economic crises in the early 1990s, economic reforms in India, Macro-economic stabilization, Structural reforms, an appraisal of economic reforms, India’s economy since economic reforms.

Globalization: LPG model of development, Globalization and its advocacy, Globalization and its impact on India, Fair globalization and the need for policy framework, Globalization in reverse gear.

Case Study - Liberalisation, Privatisation and Globalisation: An Appraisal (Indian Economic Development)

Eleventh Week

India and World Economy

Foreign Capital Formation: The need for foreign capital, Forms of Foreign Capital, Government Policy Towards foreign capital, FDI, FII

International Monetary System

World Bank and IMF

Regional Trade Blocks, OECD and World Bank

Case Study - A Study on Impact of Demonetization on Indian Economy

Twelfth

Week

Sustainability and Climate Change: India and the World

Introduction: Global emission, Sustainable Development Goals, Paris Agreement

Green Finance

Climate Finance: Sustainable development and climate change in the Indian context.
Case Study - The Role of Public Finance in CSP

Natural Resources and related policies

Case Study - India’s Achievement in Sustainable Development Goals (1 to 5 SDG)

Case Study - India’s Achievement in Sustainable Development Goals (6 to 17 SDG)

Thirteenth Week

Recent Developments in Indian Economy

NIYATAM: Niti Aayog, Transforming India, Functions of Niti Aayog, Structure of NITI, Action Agenda of NITI

Make in India and its schemes

Start-up India and its schemes

Digital India and other schemes

Case Study - Role of Women in Natural Resources Policy and Management