JAWAHARLAL NEHRU TECHNOLOGICAL UNIVERSITY HYDERABAD

Course Objectives:

• To enable the students, understand Indian Economy and its framework.
• To evaluate the Economic Growth, National Income and Business Cycles.
• To examine the operation & Implementation of Fiscal and Monetary Policy in India.
• To forecast economic challenges, Unemployment & Inflation in the Indian economy.
• To understand the trade policy and Balance of Payment and its impact.

Course Outcomes

Students will be able to

• Students will be able to understand Micro and Macro level economics in India.
• To make the student aware of growth and economic cycle and its impact on business.
• To understand the role of fiscal and monetary policy in economy.
• To anticipate the consequences of changes in the quantity of money on economic variables.
• Enable them to assess the role of Balance of payments in Indian Economy.

UNIT - I: Introduction

Overview, Economic reforms and performance of Indian economy, global economic crisis and Indian economy. Basic characteristics of Indian economy as a developing economy, trade-offs, macro, micro and meso economics and Keynesian economics.

UNIT - II: Economic growth and National Income

Business Cycles: Slowdown, Recession, Great Recession and depression, Measuring economic growth, gross domestic product and gross national product, growth and development, growth and inequality, inequality in India. National Income estimate in India, Trends in National Income, Growth, Structure and limitations of National Income.

UNIT - III: Fiscal and Monetary Policy

Definition, revenue and expenditure account, deficits, deficit financing, fiscal stimulus, FRBM act, fiscal consolidation, plan and non-plan expenditure, classification, domestic savings in India and trends in India, public debt, external debt, internal debt. Monetary policy - definition, money supply, monetary aggregates, demonetization, Indian Financial Code, Monetary Policy Committee, Framework.

UNIT - IV: Inflation and Unemployment

Introduction to inflation, types, measures and causes, price stability and optimal inflation, potential GDP and inflation, inflation and corruption, grown inflation trade off, inflation in India. Unemployment- measuring, types, causes, consequences, classification and Pradhan Mantri Kaushal Vikas Yojana (PMKY).

UNIT - V: Balance of Payments

Introduction, Balance of Payments on current and capital account, BOP crisis, India’s Trade policy, Indian Foreign trade policy-1991, 2004-2009, 2015-2020, export import policy, balance of payment invisibles, currency convertibility, FEMS and FERA.

Suggested Reading:

• Sri Ram Srirangam, Manish Kumar, Rohit Deo Jha, “Indian Economy-Principles, Policies and Progress”, Pearsons Education, 2020.
• Gaurav Datt and Ashwani Mahajan, “Indian Economy”, S Chand and Company limited,72e,2018.
• Nilanjan Banik, “Indian Economy”, SAGE.
• B. A. Prakash, “The Indian Economy-Economic reforms and Performance”, Pearson Education,2e,1991.
• Dr. V. C. Sinha, Indian Economy Performance and Policies, SBPD Publications, 2021.
• Nilanjan Banik, The Indian Economy A Macroeconomic Perspective(E Book), SAGE Publications,2015. BBA SEMESTER – II