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

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Mrunal's Win22 Series for Economy Updates for UPSC Prelims & Mains 2022
  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.

Indian History Freedom Struggle Pratik Nayak

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

  1. good afternoon mrunal sir….sir these L4 lectures series are continues part of previous ones or they are different.

  2. Hi sir,

    Thanks for ur Economy lectures.

    https://mrunal.org/2015/03/economy-lecture-14th-finance-commission-tax-devolution-formula-reddy.html
    In the link above u had already uploaded lectures starting from L4/P4 to L4/P7.
    But today in this article u hv again given the title of the lectures from L4/P5 to L4/P7… Kindly clarify…
    I know that the content of both the lectures are different but am a little confused regarding the numbers as am keeping track of it regularly.
    So please clarify regarding the lecture numbers in this article.
    Thanks

  3. Sir thank aapne Jo kaam kiya hai uska jabab nahi rural background students bhi economic jaisa subject bhi dil se padhate hai but 1 dout when you start the article writing its very important for us sir pls pls rply

  4. mrunal sir , in vol 1 chapter 7 why make in india ? there is one RODRIK EQUATION .can you please explain that

  5. Sir kya sach mai ias banna itna muskil hai mai itne lagan se preparation karta hun fir bhi reh jaata hun. Mere saath ke frnds achi post par pahuch gaye

    1. hanji bhai..

      IAS Ban na sabsei tough hota hai..

      Tum IAS k alawa b kuch ban kei INDIA serve kar sakte ho.. Zaruri thodi hai IAS ban na hi..

          1. Yes satyajit u r right. Aap bata doh kya karu itni mehnat karta hun fir reh jaata hun. Ish wajah se har koi mujhe insult kar daita hai fir bhi mai kuch nahi kar pata

        1. Visit a therapist..Psychiatrist. Seriously. You are suffering from depression and lack of confidence. Normally, people overcome such problems with the passage of time. But in your case, the way you are posting this on public platform doesn’t look good.
          The Psychiatrist will discuss the issues is details and suggest you remedies.
          NOW, don’t think Psychiatrists are for mad people. Anyone can go.

    2. Dear Pradeep,

      Kya yaar maja kharab kar diya!!
      Kya hum apne future IAS ki story padhenge to ye dekhenge ki vo kitna demoralize ho gaya tha!!
      Yaar IAS koi panacea nahi hai.. Ki ye ban jaayain bas sab sahi ho jaayga!!
      Ek kahavat hai”Grass is greener on the other side”.

      Means humain humesha lagta hai ki ye ban jaayain tab har problem ka solution ho jaayga
      jabki aisa hota bilkul nahi hai

      Kisi cheej main jab tak zeal nahi hoti tab tak aap apna poora nahe dete

      Main kayi ko jaanta hun jo nahi successful ho paaye is exam main

      Chill rahte hain… Kaafi mehnat ki thi unhone

      But vo unka decision tha ki iss exam ke liye padhain

      Nahi ho paaya toh theek hai

      Swasth raho mast raho::

      Aur log to tumhare peeche job ke baad aur sunaane main lag jaate

      just chill yaar

      :) :) :)

  6. anybody who r preparing for civils-2016 onwards…if u want to join WHATSAPP group…send ur NAME & PHONE No. to my no.-7702832513…serious aspirants only.

  7. Hello Sir,

    i am a regular follower of your website and i must congratulate you for your hard work which is really boon for the students like me who is not taking coaching.

    This is to apprise you that your earlier version (PDF) to publish notes on website was better than the current version (Youtube). Is it possible for you to again put notes in the PDF version as you had been doing so far.

    Regards
    Abhishek Kumar

    1. Iam also suffering with the same problem, I think Mrunal had to view his path because this is not beneficial to non hindi students

    2. I agree with you Abhishek. The earlier version was much better than the present youtube or the Power point presentation. I request Mrunal Sir to make the documents available in Pdf format also, which is always reader friendly.

  8. Anyone Answer this question plz and mention the source
    Q) Per capita Forest area in india (In Hectare )??

  9. Thank u sir……bahut badi help kar rahe hein aap…..ab lagta h sir haryana ke ek chhote se city me rahkar b IAS ban sakte hn hum …vo b middle class guys…….ur blessing all we need …thank u very much sir…..wish u a beatiful life sir…..God bless u…

  10. Sir,
    Kindly suggest any HINDI COMPERHENSION PRACTICE BOOK..

    Its last attempt…..

    I’m less confident in English COMPERHENSION ..

    Reply…

  11. Hello Sir,

    i am a regular follower of your website and i must congratulate you for your hard work which is really boon for the students like me who is not taking coaching.

    This is to apprise you that your earlier version (PDF) to publish notes on website was better than the current version (Youtube). Is it possible for you to again put notes in the PDF version as you had been doing so far.

    1. Why r u telling a lie?? I am sure you are a coaching student staying at Delhi, because any student not having coaching will like thses youtube video… & Mrunal sir, please continue.

  12. Pardeep Gupta, a famous quote,its not about how hard u hit,its abt how hard u can get hit and keep moving further…that’s how winning is done.don’t think abt what people say,do what u want to do,u can’t get second Chance in lyf…be passionate and give us best,if u believe in urself,surely u will get what u want…best of luck bro…..

  13. Mrunal Sir, app ka youtube video lecturer DVD format me tv pe dekhne ke leye publish hoga kyn*any one can purchase ..so that rural area student will get benieit . It is not possible to watch your videos with slow speed.

  14. @viku@15
    The total geographical area of the country is 32,87,263 sq km out of which an area of 6,75,538 sq km or 20.5 per cent was under forests in 2001.This is much below the average of 30.4 per cent for the world. The picture is very gloomy when we compare our percentage of forests area with 34.4 per cent of Canada, 36.0 per cent of Germany, 41.07 per cent of the U.S.A., 57.8 per cent of Sweden and 67.6 per cent of Japan. India with over 16 per cent of the world’s population has nearly 2 per cent of the total forests, and if the forest growing stock has been correctly estimated, it is one of the lowest per unit area i.e., less than 1 per cent of that of the forests of the world.

    Furthermore, the per capita forest area in India is bare 0. 07 hectares against the world average of 1.08 hectares.

  15. Mrunal sir , please upload interview of CAPF & IFoS Successfull candidates. it helps a lot…motivates …powerbooster

  16. Thanx a lot sir
    Got thru mains n deffinatly it won’t happn wdout u n ur unique notes. Thanx again. Indebt to u.

  17. You should first download the lecture using youtube downloader and then you can watch it without break.

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