[Economy Lecture] Inflation Theory & Survey Analysis on WPI, CPI, IIP; Make in India, Skill India & Mock Mains Qs

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  1. Prologue
  2. L4/P5: Make in India & Skill India: Salient Features
  3. L4/P6: Make in India: Policy issues & challenges from Economic Survey
  4. L4/P7: Inflation: WPI, CPI, IIP theory and Survey Analysis

Prologue

  • On 10th April 2015, I conducted session on “Sectors of Economy” subpart- make in India, skill India and inflation.
  • Total 2:30 hours, split into 3 parts.
  • 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/P5: Make in India & Skill India: Salient Features

Skill India Mission

  1. Recap of the previous lecture on agriculture and manufacturing industry
  2. Why skill Indian people?
  3. Skill India mission
  4. Pradhan Mantri’s Kaushal Vikas Yojana (PMKVY): salient features of.
  5. Din Dayal Antyodaya Yojana
  6. schemes for skilling the minorities: Ustaad, Nayi Manzil
  7. Why Make in India?
  8. 5 pillar strategy for Make in India: simplification of processes, protection of intellectual property rights, focus on 30 sectors, infrastructure development, and opening of new sectors.
  9. Budget 2015: Make “Outside” India in CMLV countries- Why?

Youtube Link: https://youtu.be/XnjSwx4S5Gk

L4/P6: Make in India: Policy issues & challenges from Economic Survey

Make in India Policy interventions

  1. 3 Policy interventions suggested for make in India.
  2. 3 ways to boost GDP: geology, geography and genes.
  3. Brief GK/Factoids on service sector, from economic survey.
  4. Discussion of following Mock questions for Mains:
  5. “In a globally integrated economy, Indian Government has limited policy maneuvers to promote Make in India.” Discuss.
  6. Since the industrial revolution, no country has become a major economy without becoming an industrial power. Examine the importance of “Make in India” in this regard.
  7. “The future trajectory of Indian economic development depends on both Make in India and Skill India.” Elaborate
  8. Inclusive growth necessitates greater focus on manufacturing than service sector. Do you agree?
  9. Make in India is a flawed idea, do you agree?

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

L4/P7: Inflation: WPI, CPI, IIP theory and Survey Analysis

Inflation Theory, WPI, CPI, IIP

  1. Index theory: Laspeyeres index, Paasche index and Fischer index.
  2. IIP- index of industrial production. Who calculates? Base year? 3 categories, 8 core industries, trend analyses from economic survey
  3. WPI- wholesale price index. Who calculates? Base year? Three categories- primary articles, fuel, manufactured goods and weight assigned to each.
  4. Difference between headline inflation and core inflation
  5. CPI- Consumer price index. Who calculates? Base year? 6 categories and weight assigned to each of them.
  6. CSO’s reform in calculation of consumer price index (CPI) from February 2015.
  7. Trend of inflation during last few years.
  8. Why has inflation declined in recent times?
  9. Price stabilization fund- who operates it? Salient features and purpose.
  10. Misc. indexes
  11. Producer’s price index to replace wholesale price index
  12. Index of service production and its four categories.
  13. Baltic dry index and its interpretation.
  14. RBI’s inflation expectations survey for households.
  15. RBI’s OBICUS survey
  16. CSO’s annual survey of industries (ASI)
  17. SBI composite index- features, interpretation.
  18. Next lecture will be on foreign trade policy 2015 and related issues from budget and economic survey.

Youtube Link: https://youtu.be/xGADBiEf9fg

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

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