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Arif's IAS portal: HOW TO HANDLE INDIAN ECONOMY IN GS

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Thursday, January 20, 2011 Followers

HOW TO HANDLE INDIAN ECONOMY IN GS

O f all the com pone nts of C ivil Se rvice s Mains Ge ne ral Studie s syllabus, Indian Econom y is the scarie st and the m ost inte re sting. It is scary be cause the re are too m any inte rconne cting topics, and inte re sting; be cause it im pinge s on our e ve ryday life . Adding to the challe nge is the fact that apart from Macro Econom ics and Micro Econom ics the re is UPSC Econom ics for which the re is no cle ar guidance - in te rm s of m ate rial or the e m pirical and analytical conte nt or the pe rspe ctive . The ne x t fe w paragraphs will try to sort out such proble m s and difficultie s. Le t's first se e what is available . W e have a cle ar cut syllabus as to what e conom ics consists of and num be r of te x tbook s in e conom ics writte n by Dutt & Sundaram , Mishra & Puri, Um a Kapila, I.C . Dhingra and also NC ER T book s to nam e a fe w. W e ne e d to start from the structure of unde rde ve lope d e conom ie s and progre ss through Socio- e conom ic Planning including the curre nt 11th five ye ar plan; go through agriculture , traditional m acro e conom ic topics lik e tax ation, fiscal policy, bank ing, inte rnational trade , we lfare e conom ics e tc. W e should have com pulsory re ading of the Econom ic Surve y though in parts. Unde rstanding the se topics is not always difficult. For e x am ple National Incom e and various m e thods to m e asure it, pove rty, and une m ploym e nt and so on, le ave us with a se nse of fam iliarity e ve n though such fam iliarity is ve ry supe rficial and hardly m ore se rious than gossip. The se are se rious conce pts and the tre atm e nt re quire d is in-de pth and m uch thorough. C once ptual clarity and fundam e ntals carry the highe st pre m ium in Econom ics. A strong note of dynam ism should drive aspirants' inte lle ctual pursuit. W hat is pre se ntly unfolding in the Indian Econom y is of utm ost im portance . If the right m ate rial is procure d and since re e ffort is m ade the conce pts are within re ach. Ge ne rally in the Mains, about 100 m ark s in Pape r - II are from Indian Econom y, Global Econom ics and Econom ic The ory. Howe ve r, Mains 2009 GS Pape rs showe d som e change s. Now both pape r I as we ll as Pape r II have que stions re late d to Indian or Global e conom y. For e x am ple in 2009 in Pape r I que stion on Inte grate d Ene rgy Policy, im pact of global m e ltdown re fle cte d in the Econom ic Surve y 2008-09, and National Fam ily He alth Surve y have e conom ic touch. Sim ilarly in Pape r II que stions lik e role of fore ign inve stm e nts in Indias e conom ic growth, Indias financial libe ralization policy in the conte x t of global financial crisis, Indias stand on W TO Doha R ound of ne gotiations and Indo-US Knowle dge Initiative in Agriculture are pure e conom y. In the sam e way in 2008 in Pape r - II the re was a que stion on W TO - "Discuss India's stand on agricultural issue s in W TO 's Ministe rial C onfe re nce s since Doha R ound (250 words)". Sim ilarly in the ye ar 2007, "W hat is Dum ping? Evaluate the re m e dial m e asure s tak e n by the Gove rnm e nt of India, vis--vis, W TO provisions re garding dum ping (250 words)". In the ye ar 2006 the re was a que stion about Globalization - "Ex am ine the e ffe cts of globalization on pove rty re m oval in India (150 words)". Econom ics que stions e x te nd the capital form ation'. It tak e s a conve ntional into the conve ntional te x tbook curre nt de ve lopm e nts. For cle ar topic lik e capital form ation and unde rstanding, have a look at the following que stion about `planning is supe rior to m ark e ts in conte x tualize s it in the curre nt de bate of State Vs Mark e t. Sim ilarly the de ve lopm e ntal Econom ics conce rning pove rty, une m ploym e nt e tc. is se e m ingly conve ntional but the m ost re ce nt pe rspe ctive s are ne ce ssary to analyze this phe nom e non. A thorough re ading of the 11th five ye ar plan docum e nt, Econom ic Surve y and the annual re ports of Union Ministry of Finance , am ong othe rs for a cle ar pe rspe ctive re com m e nde d. The re are 15 que stions in Econom ics se ction whe re candidate s' capacity for pre cision and bre vity is te ste d as e ach que stion carrie s two m ark s and re late s to a host of curre nt and te x t book the m e s ranging from what is NIFTY to Lore nz C urve to Gre e n GDP to Minim um Alte rnative Tax to Indicative Planning to Twin De ficits e tc. The range is vast and the re lie s the challe nge . The aspirants are advise d to tak e down note s from all im portant source s The Hindu, Econom ic Tim e s and the various te x t book s and we bsite s. W e re com m e nd that only authe ntic source s be de pe nde d upon. and clarity on the re le vant the m e s is

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arifsiasportal.blogspot.in/2011/01/how-to-handle-indian-economy-in-gs.html

7/3/13

Arif's IAS portal: HOW TO HANDLE INDIAN ECONOMY IN GS

mayank March 7, 2011 at 6:38 AM i wish to ask,if there are dutta and sundram,uma kapila etc ,how many of them can one actually read?it can be just one and reapeat the same so that it is retained rather then readin 10 books and retaining none.your opinion? Reply

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Milan Damji June 28, 2012 at 8:08 AM Thanks for the informative questions. I'm an ias exam prelims aspirant and being enrolled in http://www.wiziq.com/course/4765-economics-for-upsc-ias-mains I was looking for similar information. Thanks for the useful information. Please post some Ias mains exam questions. Reply E n t e ry o u rc o m m e n t . . .

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