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Top 5 Books for Indian Economy

 Whether you are preparing for competitive exams or just want to understand the Indian Economy, you  need books which makes you understand the micro and macro economic concepts. Most of the competitive exams mostly focus on Macroeconomy. But Microeconomy shouldn't be completely discarded as it helps to understand the logics behind the macroeconomy. So studying and making notes from NCERT books from IX to XII should be your founding stone. Once you become accustomed with concepts, you can study any of the five books given below:

1. Indian Economy by Shankar Ganesh 


If you want to understand the basic concepts of Indian Economy, then this book should be your first choice. Every economic concept is provided with relevant examples which makes it easy to read . However, it shouldn't be treated as one stop solution, you need to supplement this book with either any of the other four books. 

2. Indian Economy by Sanjeev Verma 


If you want to read only one book for Indian Economy then it should be your first choice. Sanjeev Verma's book has a very lucid language and covers the major topics really well. The additional toipcs you can supplement with Ramesh Singh.

3. Indian Economy by Ramesh Singh



It is one of the most comprehensive books on Indian Economy which covers topics relevant to both UPSC Prelims and Mains. If you are not short on time, then it can be your choice. I would recommend to go slow with this book as more and more concepts are bundled up together. It is a stellar book on which has been topping the chart for last fiver years.

4. Indian Economy by Datt and Sundaram


Beginners or without the knowledge of basic concepts, aspirants may face difficulty in understanding this book. However, some topics are only available in this book, so it might be helpful to check out this book. It can be the best resource for aspirants having Economics as an optional subject. 

5. Indian Economy: Principles, Policies and Progress by Pearson



This book's best part is chronological depiction of Indian Economy with how government policies impact a nation's economy. Explanations are really easy to understand. Apart from UPSC, this book is highly recommended for public sector exams too. 

Alternative Strategy:

Most of the books mentioned above have lot of static data (except Snajeev Verma and to a lesser extent, Shankarganesh) which become obsolete as the time progresses. All the books although provide detailed information, the time-starved aspirants (working people) will find it hard to complete the entire book.

For those aspirants, the alternative strategy can consist of the following steps:

Finish NCERT (Class IX to Class XII)

Focus more on Macroeconomy, the 12th NCERT Macroeconomy is an invaluable source.

Indian Economy by Sanjeev Verma

As this book is 1/3 of Ramesh Singh's Indian Economy, you can finish it comparatively fast. The concepts and really explained well and language is quite easy to understand. 

Make Investopedia Your Friend

This is also an invaluable online resource for your preparation. Although website is best suited for people interested in investing, the terminologies defined here makes any topic easy to digest. Treat Investopedia as your dictionary. 

Economic Survey and Newspaper

There is a higher chance that UPSC Prelims' questions will be directly asked from Economic Survey. So better read it twice or thrice if you have time, rather than mugging up obsolete data given in a book.

People often recommend The Hindu newspaper for preparation. But The Mint is slightly better than The Hindu when it comes to economy. So read everyday.

Common Sense

You might not have observed but you already know a lot of economic concepts. For example, whenever you want to buy something online, you compare prices from different platforms such as Amazon, Flipkart and others. Similarly, we study the economics to get the best result with minimum resources. Remember, you know a lot of concepts, and whenever you are struck at exam, use your common sense, you will probably find the answer. 

I wish all the success in life whoever is reading this post. 

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