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🏦 JAIIB IE-IFS An Overview of Indian Economy 13 cards
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IE-IFS Capsule Cards FREE An Overview of Indian Eco…
How does the World Bank classify the Indian economy?
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Lower-middle income economy based on per capita income.
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As of 2019, India's PCI was $1891. Economies are grouped into Low, Lower-Middle, Upper-Middle, and High Income.
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World Bank Economy Classification
An Overview of Indian Economy 535
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IE-IFS Capsule Cards FREE An Overview of Indian Eco…
What is India's global GDP ranking in terms of Purchasing Power Parity (PPP)?
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India is the 3rd largest economy in the world in terms of PPP.
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Only USA and China are ahead of India in GDP PPP (as per 2021 data).
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India's Global GDP Ranking (PPP)
An Overview of Indian Economy 449
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IE-IFS Memory Tricks FREE An Overview of Indian Eco…
Mnemonic '50 to 3': India and China held 50.5% of global GDP in 1000 AD, but British rule dropped India's share below 3% by 1947.
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They often test the exact percentage drop. Just remember the British era wiped out almost all of India's historical global GDP dominance.
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Maddison Database GDP Trick
An Overview of Indian Economy 427
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IE-IFS Capsule Cards FREE An Overview of Indian Eco…
Who coined the term 'Hindu Rate of Growth' and what does it mean?
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Prof. Raj Krishna coined it to describe the slow 3.5% annual growth rate.
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This refers to India's planned economy's low growth from the 1950s to 1980s.
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Hindu Rate of Growth
An Overview of Indian Economy 350
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IE-IFS Memory Tricks FREE An Overview of Indian Eco…
Remember: India is a 'Lower-Middle Income' economy as per World Bank, NOT a 'Low Income' one. Don't let poverty perception trick you.
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Exam Trap: India's PCI of $1891 (2019 data) places it firmly in the lower-middle tier. Always choose Lower-Middle in MCQs.
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World Bank Classification Trap
An Overview of Indian Economy 315
WA 315
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IE-IFS Capsule Cards FREE An Overview of Indian Eco…
What were 'Home Charges' during the British control of India?
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Colonial government's official transfers of monies to the United Kingdom.
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Included dividends to EIC shareholders, interest on loans, and pensions of British officers.
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Home Charges in British Era
An Overview of Indian Economy 258
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IE-IFS Memory Tricks FREE An Overview of Indian Eco…
Hindu Rate of Growth is NOT about demography or religion; it is Prof. Raj Krishna's term for the slow 3.5% economic growth from the 1950s-1980s.
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Exam Trap: If you see 'Hindu Rate of Growth', immediately link it to 'Raj Krishna' and '3.5% stagnant growth rate'.
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Hindu Rate of Growth Reality
An Overview of Indian Economy 257
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IE-IFS Capsule Cards FREE An Overview of Indian Eco…
Who published the first estimates of national income in India?
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Dadabhai Naoroji in his book 'Poverty and Un-British Rule in India'.
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He estimated the per capita income at Rs. 20 per annum at current prices for 1867-1868.
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First National Income Estimates
An Overview of Indian Economy 200
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IE-IFS Capsule Cards FREE An Overview of Indian Eco…
According to Angus Maddison, what was India and China's global GDP share in 1000 AD?
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India and China together contributed 50.5% of the global GDP.
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By 1947, British colonialism had reduced India's share to less than 3%.
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Angus Maddison Database Insights
An Overview of Indian Economy 146
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IE-IFS Capsule Cards FREE An Overview of Indian Eco…
Which sector currently dominates the Indian economy's GDP?
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The services (tertiary) sector has largely replaced the industrial sector.
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Agriculture's share declined from 26.9% in 1990 to under 18%, while services grew to dominance.
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Sectoral GDP Contribution Trend
An Overview of Indian Economy 133
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What was the impact of the 1991 LPG reforms on economic growth?
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Growth reached 6.7% in the 8th plan and 7.6% in the 10th five-year plan.
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Driven by Liberalisation, Privatisation, and Globalisation (LPG) policies, attracting foreign capital.
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Post-1991 Reforms Growth
An Overview of Indian Economy 129
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IE-IFS Capsule Cards FREE An Overview of Indian Eco…
How did the 'wealth drain' occur from India to Britain?
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Unilateral movement of riches via remittances, home charges, and transfers.
Continuation:
Analyzed by Dadabhai Naoroji, R.C. Dutt, and C.N. Vakil. It deeply depleted India's capital.
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Wealth Drain Theory
An Overview of Indian Economy 71
WA 71
IE-IFS Capsule Cards FREE An Overview of Indian Eco…
What characterized the Indian economy during the 1980-1990 period?
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Economic recovery breaking the 'Hindu Rate of Growth' via fiscal stimulus.
Continuation:
Higher government spending and liberalised import policies boosted capital goods and luxury production.
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1980s Economic Buoyancy
An Overview of Indian Economy 67
WA 67
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An Overview of Indian Economy — JAIIB IE-IFS Capsules

India's #1 short-form JAIIB preparation app. 500+ capsule cards, unlimited mock tests & PDF notes for JAIIB May & Nov 2026 (PPB, IE-IFS, AFM, RBWM). Learn while commuting. Clear JAIIB in your first attempt. Join 5,000+ bankers.

All 13 cards on this page
World Bank Economy Classification How does the World Bank classify the Indian economy? India's Global GDP Ranking (PPP) What is India's global GDP ranking in terms of Purchasing Power Parity (PPP)? Maddison Database GDP Trick Mnemonic '50 to 3': India and China held 50.5% of global GDP in 1000 AD, but British rule dropped India'… Hindu Rate of Growth Who coined the term 'Hindu Rate of Growth' and what does it mean? World Bank Classification Trap Remember: India is a 'Lower-Middle Income' economy as per World Bank, NOT a 'Low Income' one. Don't let… Home Charges in British Era What were 'Home Charges' during the British control of India? Hindu Rate of Growth Reality Hindu Rate of Growth is NOT about demography or religion; it is Prof. Raj Krishna's term for the slow 3.… First National Income Estimates Who published the first estimates of national income in India? Angus Maddison Database Insights According to Angus Maddison, what was India and China's global GDP share in 1000 AD? Sectoral GDP Contribution Trend Which sector currently dominates the Indian economy's GDP? Post-1991 Reforms Growth What was the impact of the 1991 LPG reforms on economic growth? Wealth Drain Theory How did the 'wealth drain' occur from India to Britain? 1980s Economic Buoyancy What characterized the Indian economy during the 1980-1990 period?
Chapters in this paper
Micro Finance Institutions Non-Banking Financial Companies (NBFCs) Fixed Income Markets – Debt and Bond Markets Interconnectedness of Markets and Market Dynamics Merchant Banking Services Foreign Exchange Markets (IE-IFS) Factoring, Forfaiting and Trade Receivables Discounting System (TReDS) Venture Capital Lease Finance and Hire Purchase Credit Rating and Credit Scoring Pension Products Para Banking and Financial Services Provided by Banks Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs) An Overview of Indian Economy Fundamentals of Economics, Microeconomics, and Macroeconomics and Types of Economies Indian Financial System – An Overview
Modules in IE-IFS
MODULE A: Indian Economic Architecture MODULE B: Economic Concepts Related to Banking MODULE C: Indian Financial Architecture MODULE D: Financial Products & Services
JAIIB papers
IE-IFS — Indian Economy & Indian Financial System PPB — Principles & Practices of Banking AFM — Accounting & Financial Management for Bankers RBWM — Retail Banking & Wealth Management
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