The UPSC Blog · Economy
UPSC Economy Notes and Current Affairs
Indian Economy for Prelims and GS Paper III: monetary policy, inflation, public finance, trade and growth — the concept first, then the latest official data, then how UPSC has asked it.
Static notes
GST Council (Article 279A): Composition, Voting and Cooperative Federalism — UPSC Notes
The GST Council is the constitutional body, created by the 101st Amendment, that recommends GST rates, laws and rules for the Centre and the States. Its composition, weighted voting, the Mohit Minerals ruling, Next-Gen GST and the federal debates — with PYQs, MCQs and Mains practice.
· 11 min read
Demographic Dividend in India: Meaning, Window of Opportunity and the Jobs Challenge — UPSC Notes
India's demographic window opened around 2005–06 and may last till about 2055–56, but the dividend is only a potential. Dependency ratio, demographic transition, the jobs test from PLFS 2025, the South–North gap and how to write it in GS1 and GS3, with PYQs and MCQs.
· 10 min read
Current-affairs explainers
Economics Nobel 2026 and India’s Inflation: Hall, Woodford, Inflation Targeting and the RBI Hike
Robert Hall and Michael Woodford won the 2026 Economics Nobel as India's CPI inflation hit 5.54%. What they showed, how the RBI's inflation targeting works, CPI vs WPI, and how to use it in GS3.
· 7 min read
RBI Repo Rate Now 5.5%: Calibrated Tightening, Tighter Daily CRR, 5.54% Inflation and the Next MPC
The RBI raised the repo rate by 25 basis points to 5.5% and switched to ‘calibrated tightening’. Since then inflation has risen to 5.54% and the rupee is near its record low. What it means for the December MPC, with CRR vs SLR, PYQs and practice questions.
· 10 min read
India’s Forex Reserves in 2026: From a Record $785.7 Billion to a Record Weekly Fall — RBI Bulletin and the West Asia Oil Shock
India’s forex reserves peaked at $785.7 billion in early September 2026 and fell to $747.5 billion by month-end as the RBI defended the rupee through the West Asia oil shock. Components, adequacy benchmarks, the RBI bulletin’s resilience case and UPSC practice.
· 6 min read
UPI MDR Deferred Until After Diwali: The 0.4% Merchant Charge, Who Pays and the Supreme Court Case
NPCI has deferred the 0.4% MDR on UPI payments to merchants above ₹2,000 until after Diwali, so UPI stays free for now. What MDR is, who decides, what stays free, the Supreme Court challenge and the UPSC angle.
· 8 min read