Welcome to the dynamic world of economics, where theories collide, markets fluctuate, and policies shape nations. Aspiring civil servants embarking on their UPSC journey often encounter the daunting task of mastering economic concepts. From macroeconomics to microeconomic principles, the realm of economics encompasses a vast array of theories and frameworks that are integral to understanding the socio-economic landscape.
1. Core Industries
Mnemonic: CCC FRENS
C = coal
C = crude oil
C = cement
F = fertilizers
R = refinery products
E = electricity
N = natural gas
S = steel
2. First Five Year Plan
Mnemonic: SIPCOT
S-SOCIAL SERVICE
I-INDUSTRY
P-POWER
Co-Communication
T-Transport
3. Second five year plan
Mnemonic: MADRAS
M- Mahalanobis Model
A- Atomic Energy Commission
D-Durgapur steel company, Tata Inst of Fundamental Research
R-Rourkela Steel Company, Rapid Industrialisation
A – Agriculture
S-Socialistic Pattern of Society
4. Third five year plan
Mnemonic: SAD
S-Self Reliance
A – Agriculture
D-Development of Industry
5. Fifth five year plan
Mnemonic: PSTM
P-Poverty Eradication
S-Self reliance
T-Twenty Point Programme
M-Minimum Need Programme
6. Sixth five year Plan
Mnemonic: MAIL
M- Management
A- Agriculture production
1- Industry production
L-Local Development Schemes
7. Seventh Five year plan
Mnemonic: EFGH alphabets
E-Employment generation
F-Food grain production was doubled
G-Jawahar Rozgar Yojana
H-Hindu rate of Growth
8. Eighth Five year plan
Mnemonic: LPG
L-Liberalisation
P-Privatisation
G-Globalisation
9. Ninth five year plan
Mnemonic: ESPN
E-Employment for Women, SC’s and ST’s
S-Seven Basic minimum service
P – Panchayat Raj Institutions, Primary Education, Public Distribution System
N-Nutrition Security
10. Eleventh five year plan
Mnemonic: TEACHERS
T-Tele-communication (2G)
E- Electricity, Environment Science
A- Anemia
C-Clean water
H-Health education
E-Environment Science
R – Rapid growth
S-Skill Development
Also read Mnemonics on Fiscal and Monetary Policy.