1. Prologue
  2. L4/P8: Goods and services tax (GST)
  3. L5/P1: GDP Calculation Methods & CSO revision


  • The economic survey related articles will be published after I’m done reading and researching myself.
  • In the meantime, here’s the recoding of my lecture series on budget and economic survey at SPIPA, Ahmedabad.
  • Third Second Session 2:30 hours- covering two major topics GST and GDP.
  • PowerPoint of the lecture, available at Mrunal.org/Download
  • Medium of instruction- Hindi.
  • English version not possible for the moment, because I’m required to teach at this batch, in Hindi/Gujarati only. Besides, same content is available in English-text articles or English PPTs on the site.

L4/P8: Goods and services tax (GST)

GST Goods and Services Tax

  1. recap of the previous lectures on fiscal policy
  2. sales tax and cascading effect explained
  3. Value added tax (VAT) and input credit system.
  4. What are MODVAT and CENVAT?
  5. Why do we need goods and services tax?
  6. 122nd constitutional amendment Bill 2014: salient features of.
  7. GST council: structure and functions
  8. list of union and states indirect taxes to be subsumed under GST regime
  9. What are CGST, SGST and IGST
  10. Four benefits of GST: Efficient logistics and warehousing, Ancillarisation, Same “Base” computation and Zero rated Exports.
  11. Four Challenges in implementation: High revenue neutral rate (RNR), Compensation to states & 14th Finance commission, Registration threshold and Misc. issues.

Youtube Link: https://youtu.be/U6HF7Q3Yo_0

L5/P1: GDP Calculation Methods & CSO revision

GDP calculation

  1. definition and formulas of Gross Domestic Product (GDP), GNP, NNP, net national income and net disposable income
  2. Three methods of calculating GDP: income method, expenditure method and production or gross value added (GVA) method.
  3. Modification done by CSO (Central statistical Organisation) in the calculation of GDP and its base year
  4. Criticism against the new CSO method for calculating GDP.
  5. Sectoral growth rate data from economic survey, ascending descending orders for MCQs.

Youtube Link: https://youtu.be/SNP2b9i8b44

Visit youtube.com/user/TheMrunalPatel For more lectures on UPSC General Studies.