VIWAAN VIRAT IAS

Sub-Area	Expected Topic / Focus (Nov 2024 – May 15, 2026)	Prelims Application Focus
Financial Sector	RBI Monetary Policy tools such as Repo Rate, CRR, and OMOs → Relevant during major rate changes or liquidity management phases. Includes banking reforms like NPAs and digital lending regulations.	Focus on definitions, transmission mechanism, impact on inflation and economic growth, and the role of regulatory bodies such as RBI and SEBI.
Fiscal Policy	Union Budget and Economic Survey 2026 analysis, including fiscal and revenue deficits, revenue sources, and updates related to the FRBM Act, New base year for GDP and calculation of poverty line.	Focus on definitions of fiscal deficit, primary deficit, revenue deficit and trade deficit, composition of government expenditure, and direct versus indirect taxation and recent tax reforms including IT Code, labour Codes 2025.
External Sector	Global trade trends, updates on Free Trade Agreements (India–UK, India–EU), and Balance of Payments trends, especially the Current Account Deficit (CAD).	Focus on key definitions such as FDI vs. FPI, WTO-related disputes, exchange rate regimes, and currency exchange mechanisms.
Schemes	Production Linked Incentive (PLI) schemes, PM-Kisan, PM-Vishwakarma, and any major schemes announced or restructured during the Nov 2024 – May 2026 period.	Focus on target beneficiaries, concerned ministry or department, and the primary objective of each scheme.