The proposed course titled “Indian Economy-I” is serves as capstone and encapsulates those information one will need to read the drivers of Indian economic structure and related facts. The proposed course provides various dimensions of Indian Economy and covers all core areas namely National Income, Agricultural, Industrial and Infrastructural development and policy. It also focuses on the Financial system in India, Public Finance, Human Development in India, along with International trade. The course facilitates students in understanding various economic problems namely poverty, unemployment, Parallel Economy in India, Prices, Price policy and Economic growth. It enhances student's synthesis skills to address and analyse economic planning, policy and development. It also imparts knowledge which aids to address the vital aspects of sustainable development goals and sustains the significance of natural resources.The course encourages and enhances the students who are the aspirants of becoming entrepreneurs by providing in depth understanding of various recent trends namely Make in India, Start up India, Digital India and various schemes brought by government if India which contributes in the development of Indian economy. The course is very much relevant to undergraduate students who are studying commerce, management, arts, science, and other social science disciplines. The students who are preparing for various competitive examinations can also embrace the course.Hence, the proposed course needed for students to make them strategically fit to embrace the future course of action.
Overview
Syllabus
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
Taught by
DR. RAJESHWARI GM
