TNPSC Indian Economy Notes:
I hope you all start preparing for TNPSC Exams. Tnpsc Indian Economy Notes/Study Materials are very important to get 5 to 10 Marks in TNPSC Group 1, 2, 2A, and CCSE 4. The samacheer books are only the best books for TNPSC preparation. Read important material with consolidated notes for 6th, 7th, 8th, 9th, 10th, 11th, 12th(11th and 12th Economy books are more important) subject wise general Social Science. Tnpsc Indian Economy Notes is available in Pdf format for Free Download. You can get previous year General Studies question papers – General Studies Question paper. For TNPSC Model question papers click here the link – TNPSC Model question papers.
Indian Economy Overview: Primary, Secondary and Tertiary Sectors
Sectors of the Indian Economy
- Three sectors – Primary, Secondary, and Tertiary.
- Primary = Agriculture related.
- Secondary = Industry related.
- Tertiary = Service related.
- Sector share towards GDP : Tertiary (60%)> Secondary (28%)> Primary(12%).
- Sector share by working force : Primary (51%)> Tertiary (27%) > Secondary (22%)>
India has shifted to a new GDP series. The organization responsible for calculating national income – CSO (Central Statistical Organisation) – adopted a new series based on the year 2011-12 instead of the previous 2004-05. which is explained below.
The total income of a nation can be expressed using many parameters like GDP, GNP, NDP, NNP, etc. Sub-variations like GDP at factor cost, GVA at the basic price, GDP at market price, etc.
- Gross Domestic Product (GDP) is the total money value of all final goods and services produced in the economic territories of a country in a given year.
- In simple terms, GDP is the product of the number of goods (and services) produced with their final price (value).
- GDP can be expressed at the constant price and at the current price. Constant price calculations are inflation-adjusted (real GDP), while current price calculations include the inflation component too (nominal GDP).
- GDP can also be expressed at factor cost and market prices.
Factor Cost vs Basic Price vs Market Price:
- General Relationship between Factor Cost and Market Price: Factor Cost + Indirect Tax – Subsidies = Market Price.
- The relationship between Factor Cost and Basic Price: Factor cost + production tax – production subsidies = Basic prices.
- The relationship between Basic Price and Market Price: Basic Price + Product tax – Product Subsidy = Market Price.
- Note: Thus, it is clear that market price includes both product tax as well as production tax while excludes both product and production subsidies.
- Basic price: Basic prices exclude any taxes on products the producer receives from the purchaser and passes on to the government (Eg: GST or Sales Tax or Services Tax) but include any subsidies the producer receives from the government and uses to lower the prices charged to purchasers. In simple terms, the basic price is the subsidized price without tax.
|GDP||Factor Cost||Market Price|
- Indian Economy Samacheer Kalvi books/ study materials:
- 11th Samacheer Kalvi Indian Economy Book Pdf Free Download– Download
- 12th Samacheer Kalvi Indian Economy Book Pdf Free Download– Download
TNPSC INDIAN ECONOMY IN TAMIL AND ENGLISH:
Important TNPSC Indian Economy Notes both in Tamil and English have given Below:
- Economy Study material in English pdf – Download
- Indian Budget 2018 in English pdf – Download
- Economy Survey and Indian Budget 2018 pdf – Download
- Current Affairs 2018 for all months pdf – Download
Indian Economy and Commerce short notes English PDF Group 1 and Group 2 Exam – Download (New)
TNPSC INDIAN ECONOMY QUESTIONS AND ANSWERS:
Some of the important questions and answers in the Indian Economy topic below, you can start the download and prepare for TNPSC exams:
- Indian Economy Question and Answers Part 1 – Download
- Indian Economy Question and Answers Part 2 – Download
For the Latest current affairs for TNPSC Group 2 – Click here.