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How to Cover Economy for BPSC Prelims 2025, Economy Important Topics

Learn how to cover economy for BPSC Prelims 2025 with key topics like economic policies, indicators, and current affairs to boost your preparation and score high in the exam.
authorImageGoldi Tomar19 Mar, 2025
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How to Cover Economy for BPSC Prelims 2025

How to Cover Economy for BPSC Prelims 2025: The Indian Economy Exam is part of the Bihar Public Service Commission (BPSC) exam, which is used to choose candidates for various administrative and executive positions in Bihar, India. The Indian Economy Exam is typically a multiple-choice (MCQ) test that covers a wide range of topics about the Indian economy, such as economic growth and development, agriculture, industry, the services sector, monetary and fiscal policies, international trade and finance, and inclusive growth.

How to Cover Economy for BPSC Prelims 2025

To prepare for the BPSC Indian Economy exam, candidates should first build a strong foundation in basic economic concepts and principles, such as supply and demand, market structures, and economic growth. Additionally, it is essential to stay updated on the current economic scenario in India, including key issues like inflation, unemployment, and GDP growth. Candidates should also have a thorough understanding of various economic policies and government programs, such as fiscal and monetary policies, and the initiatives under schemes like "Make in India" and "Atmanirbhar Bharat." 

Furthermore, being familiar with economic indicators like the Consumer Price Index (CPI), Index of Industrial Production (IIP), and Foreign Direct Investment (FDI) will help in understanding the performance and challenges of the Indian economy.

Also read: BPSC Syllabus

Why is Economics an Important Subject for the BPSC Exam?

  • The economy serves as the cornerstone for any country's growth and development. If you want to work as a bureaucrat, you must grasp how the Indian economy works.

  • The BPSC frequently asks questions in economics, which are important for the Main, Interview, and Preliminary assessments.

  • Indian Economics is also covered in the General Studies Paper for the Prelims, with a focus on newly launched programs and budget allocation.

  • Because economics is so closely linked to current events, it is the most dynamic and diverse subject. This entails keeping up with current events on a consistent basis. 

 Also read:  BPSC Salary 2025

Economy Important Topics for BPSC Prelims 2025

Exceptional students, teachers, and BPSC coaching experts have collaborated to create the Economics Notes for BPSC, ensuring that exam-relevant material is provided to students. Candidates for the BPSC should use these notes on Economics and revise them repeatedly to make their preparation easier and more effective. Some of the major topics that should be extensively studied for the BPSC exam are listed below.

Important Topics in Economics for BPSC Prelims 2025

Chapter

Important Topics

Basic Concepts


  • Factors of Production

  • National Income

  • GDP, GNP, NDP, & NNP

  • Personal Income

  • Overview of Indian Economy

  • India’s New GDP Series

Inflation


  • Definition

  • Measurement (WPI, CPI, Deflator)

  • Types and Causes

Fiscal Policy


  • Budget and Vote on Account

  • Cut Motions (Policy, Economy, Token)

  • Tax Expenditure

  • Fiscal and Current Account Deficits

  • Government Budgeting

  • FRBM Act

  • Taxation

  • GST

  • UBI

Monetary Policy


  • Monetary Policy in India

  • Money Supply

  • Expansionary vs Contractionary Policy

  • REPO

  • Reverse REPO

  • CRR, SLR, MSF, & CRAR

  • Rupee Devaluation

  • UPI

Planning and Federalism


  • Issues Related to Planning

  • Investment Models

  • Mobilization of Resources

  • Growth

  • Development

  • Employment

  • 12th Five Year Plan

  • 15th Finance Commission

  • NITI Aayog

Growth and Development


  • Poverty

  • Human Capital

  • National Education Policy 2020

  • SHGs

  • NGOs

  • Economic Growth vs Development

  • Human Development Index

  • Green GDP

  • Gross National Happiness Index

  • MDGs & SDGs

Indian Economy – Sectors

Primary (Agriculture) Sector

  • Food Processing

  • PDS

  • Land Reforms

  • Agricultural Marketing

  • MSP

Cropping Patterns Secondary (Industrial) Sector

  • IIP

  • Make In India

  • Companies Act

MSME Tertiary (Service) Sector:

  • NIIF

  • Bankruptcy Code

  • Banking

  • Development Finance

  • Bank Reforms

  • Non-Performing Assets

  • Financial Inclusion

  • Employment Linked Incentive and Model Skill Loan Scheme.

Foreign Trade


  • Balance of Payments

  • Free Trade Agreements

  • Masala Bonds

  • FDI

  • Infrastructure (Energy, Roads, Ports, Airports, Railways)

Financial Market


  • Speculation

  • Hedging

  • Arbitrage

  • Investment

  • Money Market

  • Capital Market

  • SEBI

World Economy


  • WTO

  • Trade Facilitation Agreement

  • Fiscal Cliff

  • Fiscal Drag

  • Bitcoin

  • NFTs

  • Cryptocurrency

  • Ease of Doing Business

  • Budget and Economic Survey

Join PW BPSC Online Coaching 

Important Tips For BPSC Economy Preparation

The following simple tactics will help you effectively prepare for the key economics themes of the BPSC preliminary test in 2025:

  1. To gain a strong understanding of core economic concepts, start with NCERT textbooks and standard BPSC materials from grades IX through XII.

  2. Stay up to date with current events. Economic events and policy are always changing. Reading newspapers and economic publications on a daily basis is vital for staying current with the latest developments.

  3. Looking over past years' question papers may help you better comprehend the questions and their structure.

  4. The BPSC Test series by PW provides experience answering questions under time constraints and aids in regular revision to address the economy's major areas for the BPSC Prelims 2025.

  5. Talking with mentors and other candidates can assist to eliminate confusion and increase comprehension.

Also read: BPSC Eligibility Criteria 

 

How to Cover Economy for BPSC Prelims 2025 FAQs

Why is Economics important for BPSC Prelims?

Economics is an integral part of General Studies and covers key concepts related to the Indian economy, policies, and economic indicators, making it essential for scoring well in the exam.

Should I focus more on Microeconomics or Macroeconomics?

Focus more on Macroeconomics as it deals with broader issues like inflation, GDP, and fiscal policy, which are highly relevant for BPSC Prelims.

How important is Current Affairs in Economics for BPSC Prelims?

Current Affairs related to economic issues, government policies, schemes, and reports like the Economic Survey are crucial for answering contemporary economic questions.

How do I prepare for Economic Policies and Government Programs?

Study key policies like fiscal and monetary policies, government schemes like Atmanirbhar Bharat, and focus on economic reforms, budgeting, and policy frameworks.

How can I understand Economic Indicators for BPSC Prelims?

Familiarize yourself with important economic indicators such as GDP, inflation rates, IIP, and FDI, and understand their implications for the economy through reports and news updates.
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