- Characteristics of Indian Economy: Demographic Profile, Demographic Dividend and Population Policy.
- Sectoral Composition with respect to contribution to Gross Domestic Product (GDP) and Employment. Poverty and Inequality, Unemployment, Inflation in India.
- Industrial Growth in India.
- Regulatory framework for money and banking: Reserve Bank of India (RBI), Commercial banks and Regional Rural Banks. Monetary policy, Foreign exchange, Balance of Payment Scenario.
- Foreign Trade: Policy, Composition and Direction, Impact of Liberalization / Privatization and Globalization.
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- Economic Planning in India.
- Five Year Plans: strategies and outcomes, Public / Private / Joint Sectors.
- Fiscal Policy, Fiscal Responsibility and Budget Management Act, 2003, Debt and Investment in India: Current Status, Growth and Development experience including Natural Resource Management. Sustainable development and Inclusive growth.
- Measurement of economic development: Physical Quality of Life Index (PQLI),
- Millennium Development Goals, Human Development Index (HDI) / Gender Development Index (GDI) / Gender Empowerment Measure (GEM). Latest / Current Development Schemes / Initiatives / Institutional Changes (e.g. Swach Bharat Mission, Make in India, Digital India, Skill India, Sansad Adarsh Gram Yojana, Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS), National Institution for Transforming India (NITI) Ayog etc.). International Financial and Economic Organizations: International Monetary Fund (IMF),
- World Trade Organization (WTO), International Bank for Reconstruction and Development (IBRD), International Development Association (IDA), United Nations Conference on Trade and Development (UNCTAD), Organization for Economic Cooperation and Development (OECD), Brazil, Russia, India, China and South Africa (BRICS).
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- Demographic profile and Human resource, Sectoral distribution of Gross State Domestic Product (GSDP). Diversification in Agriculture and allied activities, Land tenure and size of land holdings. Industrialization in the state.
- Skilled / Unskilled labour.
- Revenue generation with special reference to hydro potential, tourism, flora and fauna.
- Cottage and Small Scale Industries.
- Tax base, Pros and Cons of Special Category status.
- Appraisal of education, Health, Physical and Financial Infrastructure Development.
- Note:—All the topics / subjects covered under SUB UNIT-3 are relevant to the State of Himachal Pradesh.
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