Indian Economy
🔒 Log in to trackPlanning legacy, national income, RBI and monetary policy, inflation indices, the Budget, taxes and GST, flagship schemes and economic institutions. CGL asks 2-3 questions, increasingly tilted to current numbers (rates, budget, index revisions).
One page per subtopic: detailed notes, every question type, formulas, tricks and practice sets.
Every formula on one printable page, grouped by subtopic.
4 exam-level questions worked step by step.
116 questions — untimed practice or a timed test with analysis.
Track record in the exam
Questions per shift in recent SSC CGL papers.
Test difficulty mix (116 questions)
Question patterns exams keep repeating
Taken from previous-year papers. If a pattern is marked "very common", expect to see it in your exam.
Repo rate and other policy rates
very common"The repo rate is the rate at which..." or "the Bank Rate equals..."
SDF = repo − 0.25% (the floor). MSF = Bank Rate = repo + 0.25% (the ceiling).
The MPC has 6 members; the Governor has the casting vote.
The Bank Rate is equal to which rate?
Take the repo rate as R
The SDF is R − 0.25% (floor)
The MSF rate is R + 0.25% (ceiling) and the Bank Rate is set equal to it
MSF rate
Price indexes and who compiles them
very common"The WPI is compiled by..." or "which pair is correctly matched?"
WPI = Office of Economic Adviser, CPI = NSO, CPI-IW = Labour Bureau.
IIP measures factory output, not prices. The RBI targets CPI, not WPI.
Which pair is correct? (a) WPI – NSO (b) CPI – Office of Economic Adviser (c) IIP – a price index (d) CPI-IW – Labour Bureau
(a) WPI is by the Office of Economic Adviser, not NSO
(b) CPI is by the NSO, not that office
(c) IIP measures output, not prices
(d) CPI-IW is by the Labour Bureau, so (d)
Five Year Plans and their models
common"The Mahalanobis model belongs to which plan?"
1st Plan = Harrod-Domar model (agriculture).
2nd Plan = Mahalanobis model (heavy industry). The 12th Plan (2012-17) was the last.
The Harrod-Domar model was the base of which Five Year Plan?
The 1st Plan ran from 1951 to 1956
It used the Harrod-Domar model
Its focus was agriculture and irrigation
First Plan
Budget deficits
very commonSpending, receipts and interest figures are given, and a deficit is asked.
Fiscal deficit = total spending − receipts (without borrowing).
Primary deficit = fiscal deficit − interest payments.
Total spending is ₹45 lakh crore, receipts without borrowing are ₹39 lakh crore and interest is ₹10 lakh crore. Find the primary deficit.
Fiscal deficit = 45 − 39 = 6
Primary deficit = fiscal deficit − interest
= 6 − 10 = −4
So the primary deficit is −₹4 lakh crore (a surplus)
GST facts
very common"Article 279A deals with..." or "GST started from..."
GST began on 1 July 2017 (101st Amendment). Article 246A = power, 269A = IGST, 279A = GST Council.
In the Council the Centre has 1/3 of the votes, the states 2/3, and a decision needs 3/4.
In the GST Council, what is the total vote share of all the states?
The Centre has 1/3 of the vote
All states together have the rest
1 − 1/3 = 2/3
Two-thirds
Scheme, benefit and year
very common"₹6,000 a year is given under..." or "₹5 lakh health cover is under..."
Learn the benefit and year: PM-KISAN = ₹6,000 a year (2019), PM-JAY = ₹5 lakh cover (2018).
Jan Dhan = 2014, MUDRA = 2015, Ujjwala = 2016.
Which scheme gives ₹5 lakh per family per year for hospital treatment?
The cover is ₹5 lakh per family
It is for hospital treatment
The scheme was launched in 2018 as Ayushman Bharat
PM-JAY
Institution and its headquarters
very common"SIDBI is headquartered at..." or "which pair is correctly matched?"
SEBI = Mumbai, IRDAI = Hyderabad, NABARD = Mumbai, SIDBI = Lucknow.
World Bank and IMF = Washington, WTO = Geneva, ADB = Manila, NDB = Shanghai.
Which pair is correct? (a) IRDAI – Mumbai (b) SIDBI – Lucknow (c) ADB – Beijing (d) NDB – Manila
(a) IRDAI is at Hyderabad, so wrong
(b) SIDBI is at Lucknow, so right
(c) ADB is at Manila, so wrong
(d) NDB is at Shanghai, so wrong. Answer (b)
Economy statements: pick the correct ones
very commonTwo or three numbered statements are given about the RBI, the budget or a scheme.
Find the planted error first: "the RBI targets WPI" is false (it is CPI); "payment banks can lend" is false.
One clearly false statement removes several options.
- The MPC has six members. 2. The RBI's inflation target is on WPI. 3. Payment banks cannot lend. Which are correct?
1: MPC has 6 members, so true
2: The RBI targets CPI, not WPI, so false
3: Payment banks take deposits but cannot lend, so true
So Statements 1 and 3