[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


  • 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. I find these lecture videos most useful despite myself being not versed in Hindi. Even though i dont enjoy better net speed I strongly urge mrunal sir to keep up this new format. Because- articles take lot time not only to compile but also for readers, hence lot of time saved, much needed on the verge of prelims. And secondly people like me who hail from south and trying to learn some hindi would also benefit. :p dont bother if you dont have better net speed, use youtube video downloader, last night at around 100 or less kbps, i was able to download 4 videos in 2 or 3 hours, while i put it for downloading i was reading a news paper, later i enjoyed seamless videos.

  2. Respected Sir,
    I have appeared for the SSC CGL Tier-2 Examination 2014 Conducted on 12th April, 2015. I was not aware that there was instructions not to use correction fluid for correcting answers. I am worried that whether my OMR Sheet will be checked or not?

  3. Mrunal Sir ,

    I could not find Ppts for L2-P4 to L2-P9 in the download section.
    Could you please check that once.

    Thanks in advance.

  4. Respected sir will you please start giving articles as before ? it was a very convinient mode of study . we are almost addicted to your articles . please sir bring those golden days for us . we have a lot of difficulties in accesing your lectures on youtube. please think for us. thanking you.

    1. agree………. even m nt surfing the site these days bcz of nt hvng those articles which are the strong pillar of Mrunal’s effort………………

  5. mrunal sir

    you are teaching economy in very good style.

    simple to understand

    very good lectures compared to Delhiwala coachings.

    thank you sir

  6. sir you doing a great job by putting up such
    good articles n video
    I hav seen many are asking you to write only articles as before but do good for both english as wel as for hindi medium students I think hindi wale need your help more in comparison of what english wale need

  7. Mrunal Sir I am not getting good marks in csat paper. because of which , I am not cracking an UPSC pre exam , Guide me .

  8. Sir plese upload more lectures I m in Bhopal i m your great fan u are like Salman Khan for Cecil service apparents Thanku sir and more I waiting since 2 weeks for lectures

  9. Sir, i am a civil engg student.i want to become a ias officer & i take civil engg as a optional in upsc.pls suggest me this optional is best to secured good rank.

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