Indian Economy is a comprehensive text, with detailed coverage of all topics in the UPSC Preliminary and Main syllabus. Written by a subject expert who has several books on economics, contemporary essays etc to his credit, the book is of immense importance to academics, researchers, aspirants of civil services examinations and those with an abiding passion for the subject. The book is recommended by UPSC in its reading list. The book is a stellar product, with many years of bestselling performance. The last year’s sales history is given below
What is new in this edition?
1. The new edition has been thoroughly 'revised' as per the changing times and requirements—duly including the inputs from India 2017; Economic Survey 2016-17 and Union Budget 2017-18 and the latest volume of India Development Report 2015.
2. Updated information of the National Income; highlights of the new World Happiness Report-2017; changing dimensions of Planning and Economic Reforms together with the transformational reforms have been duly included.
3. Farmers’ suicides; safeguarding agri-trade and doubling farm income are some of the new topics added in the chapter Agriculture & Food Management.
4. Current disinvestment policy; apparel & footwear industries; ease of doing business, privates sector and urbanisation; PPP models are new topics added in the chapter Industry & Infrastructure.
5. Services sector has been fully updated with the latest inputs together with the anomalies of formality and informality of the sector.
6. The section on the Financial Market has been fully revised added with of several new topics such as—cooperative banks; rising NPAs and the resolution—5/25 refinancing, ARCs, AQR, S4A; the PARA; high power money being the major ones.
7. External Sector and International Economic Organisation chapters have been revised and updated together with the new entries such as—the latest data of forex reserves and composition of external debt; new write-up on SEZ; global FDI; India’s external scenario; need of exchange rate monitoring; need of shift in trade policy; trans-pacific partnership and trans-atlantic trade and investment partnerships; deglobalisation & India and OECD.
8. Tax and Government Budgeting chapters have been thoroughly revised and updated with addition of new topics such as—implementation process of the GST; direct tax reforms; income and consumption anomaly; latest situation of FRBM review; macro-economic policy stance of the Government and the Fiscal Outlook for 2017-18.
9. Emerging challenges in implementing the INDCs of India; National Tariff Policy; Global Emissions; COP 22 and climate change topics have been revamped in the chapter Sustainability & Climate Change.
10. A new chapter Burning Socio-Economic Issues is being added in this edition with ten new topics—Bad Bank; Demographic Dividend; Twin Balance Sheet crises; Universal Healthcare; Aftereffects of Demonetisation; Addressing Inequality; Universal Basic Income; Legitimacy in State & Socio-economic Transformation; Farm Indebtedness & Agripolicy and Deglobalisation—the Aftereffects.
11. Human Development in India chapter has been fully revised and added with several new topics—Privacy of Women; Accessible India Campaign and the latest Employment Scenario.
12. The chapter on Economic Concepts & Terminologies has been updated and added with new entries such as—Bad Bank; Countervailing Duty; Net Income; Purchase Tax; etc.
13. The chapter on the Multiple Choice Questions has been fully revised and several old questions have been replaced by the new questions which are based on the recent developments such as—Bad Bank; NPAs; Disinvestment Policy; Human Resource Reforms for Results; Coach Mitra; Countervailing Duty; Net Income; Purchase tax; Official Development Assistance; European Investment Bank; composition of the External Debt; Current and Capital Accounts; Inflation and Disinflation; Government’s Schemes & Programmes; Hybrid Annuity Model (HAM) of the PPP in road sector; new System of National Accounts; economics for Agriculture; Swiss Challenge; Marginal Cost of funds based Lending Rate (MCLR); Price Deficiency Payment; Direct Benefit Transfer; Limited Liability Partnership (LLP) firm; NITI Aayog & NDC; restructuring of the CSSs; Product & Production taxes.
14. The chapter on Model Answer for the written examinations (i.e., Main Exam) has been fully updated and several new model questions and their answers have been added on the issues such as—need of monitoring exchange rate of rupee; need of policy shift in India’s trade policy; government’s stand on the review of the FRBM Act; disinvestment of the public sector companies; income and consumption pattern of India; transformational reforms; women’s fundamental right to privacy; and institutional lending and farmers’ suicide.
15. Like editions of the past, separate chapters have been given on the Economic Survey 2016-17 and the Union Budget 2017-18.