When you start preparing for Economy,keep two things in mind :
Economy consists of two parts :
1. Static
2. Dynamic
This article deals with static portion and the best book to do so is Indian Economics by Ramesh Singh
Static economy: How to read Ramesh Singh (5th edition) for RBI phase 1
1. Sectors of an economy: page 1.12 to 1.13
2. Idea of national income: page 1.14 to 1.17
3. Human development index: page 2.4 to 2.5
4. Gross national happiness: page 2.7 to 2.8
5. Planning commission: page 5.12 to 5.15
6. Central planning: page 5.16 to 5.26
7. Planning and finance commission: page 5.31 to 5.32
8. inflation and business cycle: page 7.2 to 7.29
9. Recession: page 7.32 to 7.33
10. WTO: 8.29 to 8.36
11. Disinvestment; page 9.12 to 9.16
12. FDI policy and new IIP: page 9.18 to 9.20
13. whole of Chapter no 11: Indian financial market
14. whole of Chapter no 12: banking in India
15. whole of Chapter no 14: security markets
16. whole of Chapter no 15: External sector
17. whole of Chapter no 16: International economic organisations
18. whole of Chapter no 17: Tax structure
19. whole of Chapter no 18: public finance
20. whole of Chapter no 22: Human development
21. Census 2011: C2 to C8
KEEP SOME POINTS IN MIND :
1. No need to go into details.
2. Not more than 10 lines are important on each page.
3. You should understand the basic concepts of economy. This is especially important for aspirants with a background other than economics and finance