5 mind maps
Chapter 1 Pass English Medium Indian Economy · Public Finance Fiscal Policy What fiscal policy means and its objectives; the structure of the budget — revenue and capital, receipts and expenditure; the budget’s history, process and different forms; the formulas and today’s figures for the revenue, effective revenue, fiscal and primary deficits; public debt and deficit financing; fiscal consolidation, the Laffer curve and the FRBM Act — from its original 2003 targets to Budget 2026-27 and the new debt-to-GDP target — with memory tricks, flashcards and a quiz. Open map Chapter 2 Pass English Medium Indian Economy · Public Finance The Tax System and GST The definition of tax, direct against indirect tax and three patterns of rate; the old against the new income tax regime, corporate tax, capital gains tax and the Income-tax Act 2025; the history of GST, the CGST-SGST-IGST structure, registration, the GST Council, the cascading effect and Input Tax Credit, and the new GST 2.0 rates; and ideas such as GAAR, the Tobin tax, tax havens and BEPS — with memory tricks, flashcards and a quiz. Open map Chapter 3 Pass English Medium Indian Economy · Public Finance Resource Mobilisation Where the government raises money besides tax — non-tax revenue, the three PSU ranks and the timeline of disinvestment, instruments of public debt from the Treasury Bill to the Sovereign Gold Bond, small savings schemes, PPP models such as HAM and toll, and the institutions such as the World Bank and JICA that give India foreign aid — with memory tricks, flashcards and a quiz. Open map Chapter 4 Pass English Medium Indian Economy · Public Finance Fiscal Federalism What fiscal federalism means and its base in the Constitution (Articles 265-293); vertical and horizontal transfer, and grants under Articles 275/282; the GST Council's structure, work and weaknesses; how Central Sector and Centrally Sponsored Schemes are funded, how states borrow, and Special Category Status; the Finance Commission's history from the 1st to the 16th, its chairmen, the 14th and 15th Commissions' recommendations and the 16th's 6-factor formula; and the challenges facing fiscal federalism — with memory tricks, flashcards and a quiz. Open map Chapter 5 Pass English Medium Indian Economy · Public Finance Budget 2026-27 and the Economic Survey The headline numbers of Budget 2026-27 — a total of ₹53.47 lakh crore, where the rupee comes from and goes, the deficit trend and major heads of spending; the Budget’s goals, four foundations, the near-7% growth rate and its three duties; the first duty’s manufacturing, MSME, infrastructure and financial-sector announcements; the second and third duties’ education, health, tourism, farmer, disability and North-East schemes and SHE-Mart; and Economic Survey 2025-26’s growth rate, agriculture and reforms — with tricks, flashcards and RAS Mains questions. Open map
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