Indian Economics Service Exam - Indian Economy Syllabus and QB

Pattern: Time: 3 Hrs Marks : 200

Section A: All six questions. Each carries 5 marks. 100 Words

Section B: 6/9. Each carries 15 marks. 200 words

Section C: 4/6. Each carries 20 marks. 300 words

1. History of Development and Planning: Alternative Development Strategies - goal of self-reliance based on import substitution and protection, the post 1991 globalisation strategies based on stabilization and structural adjustment packages: fiscal reforms, financial sector reforms and trade reforms.

1) Explain why India continued with inward looking control-oriented development policies so long despite unsatisfactory results. (15) (2019)

2) Are investment decisions based on commercial judgements superior to allocation of resources through planning on the basis of preconceived notions of social desires? Elaborate your answer comparing the July 1991 Industrial Policy to the earlier policies. Is this change beneficial for the Indian economy? Discuss. (20) (2019)

3) Evaluate the liberalization strategy as adopted in India since 1991 to achieve high economic growth. (20) (2018)

4) How was the economic crisis faced by India in the early nineties related to her internal fiscal imbalance? (5) (2017)

5) Mention the major trade policy reforms in India since 1991. How has it affected the structure of India’s foreign trade? (5) (2017)

6) Critically evaluate inclusiveness and sustainability of growth as the development strategy in India in recent times. (15) (2017)

7) Economic growth in India in the post-liberalisation period is service-led. Is this growth sustainable? (15) (2017)

8) Why do the basic objectives of planning remain unfulfilled in India? Can India achieve these objectives in the post- liberalization period? (20) (2017)

9) Do you agree with the view that the process of globalization in India has led to ‘unequal competition’? (20) (2016)

10) Manufacturing sector needs to be strengthened and developed but the role of the service sector cannot be ignored. Discuss. (5) (2015)

11) “In the changing economic environment, the goal of self reliance is a myth.” Do you agree? (15) (2015)

12) “Second generation economic reforms should be accompanied with human capital formation for sustained development in India.” Discuss. (20) (2015)

13) Do you think that fiscal reforms should supplement financial sector reforms to achieve the objective of stabilization and employment generation in the Indian economy? Explain. (20) (2015)

14) Industrial development and agricultural development are the two sides of the same coin. What policy prescriptions would you advocate in the context of the Indian economy? (20) (2015)

2. Federal Finance: Constitutional provisions relating to fiscal and financial powers of the states, Finance Commissions and their formulae for sharing taxes, Financial aspect of Sarkaria Commission Report, Financial aspects of 73rd and 74th Constitutional Amendments.

1) What are the issues of conflict between the centre and the states with respect to their financial relations? (5) (2019)

2) Describe briefly how resources are transferred from the centre to the states in India. (5) (2017)

3) Why are states in India not satisfied with the financial arrangement between the centre and the states? In this context, what are the major recommendations of the sarkaria commission? (15) (2017)

4) Enumerate constitutional provisions relating to financial relations between the centre and the states. (5) (2016)

5) Do you think that the recommendations of the fourteenth Finance Commission will help in promoting cooperative federalism in the country? (15) (2016)

6) State the major recommendations of the fourteenth Finance Commission. Manufacturing sector needs to be strengthened and developed but the role of the service sector cannot be ignored. Discuss. (5) (2015)

7) Comment on the major federal fiscal problems between the centre and states in India. (15) (2015)

3. Poverty, Unemployment and Human Development: Estimates of inequality and poverty measures for India, appraisal of Government measures, India's human development record in global perspective. India's population policy and development.

1) Discuss the trend of the sex composition of population in India. What are its determinants? Comment on the measures adopted by the GOI to check further loss of girls. (15) (2019)

2) Is it possible to transform India’s youth from job seekers to job creators in the changing job scenario in India? What steps have been taken by the GOI to attain this objective? (20) (2019)

3) What are the problems associated with poverty alleviation programmes of the GOI? Do you support the principle of universal basic income as a better alternative? Give reasons for your answer. (20) (2019)

4) Describe the salient features of National Health Mission in India briefly. (5) (2018)

5) The emerging trend in economic inequality in India doesn’t augur well. Point out the main factors responsible for the trend and suggest appropriate measures to this effect. (15) (2018)

6) Do you subscribe to the view that dev of economic and social infrastructure is central to any future strategy of poverty alleviation in India? Elaborate your answer. (20) (2018)

7) The success of realizing the demographic dividend hinges upon the success of Skill India Programme, which in turn depend upon the resources allocated to human capital formation – evaluate critically. (20) (2018)

8) What are the various dimensions of poverty? Has the economic reform package ultimately reduced the incidence of poverty in India? (5) (2017)

9) How will you explain the paradox of high economic growth and low human development in India in recent times? (15) (2017)

10) Do you think that the employment generation strategy adopted by the GOI since 1991 can reduce unemployment significantly? (15) (2017)

11) Why is India’s human development record still poor inspite of higher GDP growth rate? (5) (2016)

12) Comment on the present poverty line and poverty ratio debate in India. (15) (2016)

13) Antipoverty programmes need to be reoriented for assets creation rather than providing employment in rural areas. Comment. (5) (2015)

14) India’s human development record continues to be gloomy. Can you suggest measures to improve it? (15) (2015)

15) Skill development and increase in labour productivity will impact India’s growth rate. In this context, what measures would you suggest to promote household savings in India? (15) (2015)

16) It is not the population but the poverty and unemployment are the two most chronic problems of the Indian economy. What policy measures would you suggest to solve these problems? (20) (2015)

4. Agriculture and Rural Development Strategies: Technologies and institutions, land relations and land reforms, rural credit, modern farm inputs and marketing - price policy and subsidies; commercialization and diversification. Rural development programmes including poverty alleviation programmes, development of economic and social infrastructure and New Rural Employment Guarantee Scheme.

1) Examine the possible consequences of opening up the Indian agriculture to world markets.(5) (2019)

2) Comment on the required rate of growth for doubling farmers’ income within five years. What measures have been taken by the GOI to achieve this? Are those measures adequate? Give your suggestions. (20) (2019)

3) Give a short account of the main components of Pradhan Mantri Krishi Sinchayee Yojana. (5) (2018)

4) What to you understand by diversification of agriculture in India? Critically examine the role of agricultural price policy in this context. (15) (2018)

5) Do you think that agricultural income in India should be taxed? Give reasons for your answer. (5) (2017)

6) Agricultural credit from institutional sources is a chronic problem in India. In this context, explain the role of commercial banks in disbursing agricultural credit. (15) (2017)

7) What are the challenges faced by India for financial inclusion in rural areas? Discuss how this problem can be overcome. (20) (2017)

8) “Green revolution in India has improved Indian farming but has failed to address challenges.” Do you agree? Give reasons in support of your answer. (20) (2016)

5. India's experience with Urbanisation and Migration: Different types of migratory flows and their impact on the economies of their origin and destination, the process of growth of urban settlements; urban development strategies.

1) What are the links between urbanization and economic development? Do you think that Indian cities and towns have adequate infrastructure to bear the burden of increased population? What measures have been taken by the government of India to address this problem? (5) (2019)

2) How has the rural-urban migration in India impacted the two sets of areas in social and economic terms? What policy measures would you prescribe to negate the negative impacts of the said process of migration? (20) (2018)

3) Is increasing urbanization in India the result of push factors rather than pull factors? Discuss. (5) (2016)

6. Industry: Strategy of Industrial development: Industrial Policy Reforms; Reservation Policy relating to small scale industries. Competition policy, Sources of industrial finances. Bank, share market, insurance companies, pension funds, non-banking sources and foreign direct investment, role of foreign capital for direct investment and portfolio investment, Public Sector reform, privatization and disinvestments.

1) Explain why many of the public sector enterprises have become a burden on the Govt of India. (5) (2019)

2) Examine the role of the state in the new development strategy in India. How far has govt compromised with its social objectives? Do you support the disinvestment policy? Explain. (15) (2019)

3) Do you think that India failed to acquire the ability to design, fabricate and erect its own plants without foreign assistance? Comment on the Make in India Policy of the GOI in this light. (15) (2019)

4) How can the disinvestment drive be invigorated in the Indian economy? (5) (2018)

5) What in your opinion is the present outlook in respect of the industrial performance of the Indian Economy for 2018-19? What are the favourable factors, risks and challenges in this regard? (15) (2018)

6) Critically evaluate the govt policies towards the public sector enterprises since 1991. Do you think these enterprises are still relevant for industrial development in India? (15) (2017)

7) What are the major problems of industrial development in India? Can the ‘Make in India’ programme recently launched by the GOI eliminate some of these problems? (20) (2017)

8) Disinvestment policy of the Govt has failed to deliver desired results. Do you agree? Give reasons. (5) (2016)

9) Discuss recent initiatives undertaken by the Govt to boost industrial growth in India. (15) (2016)

10) MSMEs have a critical role in boosting industrial growth in India and ensuring the success of the ‘Make in India’ programme. Explain. (20) (2016)

11) Bring out the importance of micro, small and medium enterprises in the context of the Indian economy. (5) (2015)

7. Labour: Employment, unemployment and under-employment, industrial relations and labour welfare - strategies for employment generation - Urban labour market and informal sector employment, Report of National Commission on Labour, Social issues relating to labour e.g. Child Labour, Bonded Labour, International Labour Standard and its impact.

1) Elaborate the causes of prevalence of child labour in India. Suggest suitable measures to control it. (5) (2019)

2) Examine the nature of the reserve army of labour in India after the adoption of the neo liberal policies. Do you think that India will continue to be an informal economy in near future? Give reasons for your answer. (15) (2019)

3) What are the major social issues related to child labour in India? (5) (2018)

4) Define informal sector employment. What type of vulnerabilities are faced by workers in the informal sector in India? Point out the required policy measures to ameliorate the social and economic hardships of Indian informal sector workers. (15) (2018)

5) “Bonded labour continues to exist in India despite Govt’s efforts to regulate it.” Comment. (5) (2016)

6) India is presently facing dual challenges of developing skills and using skills. Discuss. (15) (2016)

7) Child labour continues to be a permanent problem in India. Suggest pragmatic ways to control it. (5) (2015)

8. Foreign Trade: Salient features of India's foreign trade, composition, direction and organization of trade, recent changes in trade policy, balance of payments, tariff policy, exchange rate, India and WTO requirements.

1) Examine how international agreements under the WTO have affected Indian Agri and industry. (15) (2019)

2) Analyze the causes of India’s BOP problems before 1990s. How was fiscal deficit linked to the BOP crisis? Examine the measures taken by the GOI in correcting these twin deficits. (20) (2019)

3) Describe in brief the composition of India’s imports during the economic reforms era. (5) (2018)

4) Critically analyse the role of foreign capital in promoting investment in India. (15) (2018)

5) How are India’s exports and imports likely to be affected by changes in the real exchange rate of the Indian economy? (15) (2018)

6) Explain how curtailment of domestic absorption improved the BOP situation in India. (20) (2017)

7) Enumerate reasons for decline in growth rate of India’s exports. (15) (2016)

8) Analyze the extent to which the composition and direction of India’s foreign trade have undergone changes during last ten years. (20) (2016)

9) In the context of PPP, Indian rupee is undervalued in dollar terms. How far is it true? (15) (2015)

9. Money and Banking: Financial sector reforms, Organisation of India's money market, changing roles of the Reserve Bank of India, commercial banks, development finance institutions, foreign banks and non-banking financial institutions, Indian capital market and SEBI, Development in Global Financial Market and its relationship with Indian Financial Sector.

1) Discuss briefly the relative merits of international trade and output expansion for home market as effective engine of economic development in India. (5) (2019)

2) Explain the nature of systematic weaknesses in controlling the Indian money and capital market in view of the recent scams. Suggest some remedies to counter these deficiencies. (15) (2019)

3) Critically examine the rationale of the withdrawal of a significant volume of currency in circulation in India in the recent past. Do you think that this temporary shock will lead to deeper and long term recession in the economy? Give reasons for your answer. (20) (2019)

4) Give a brief account of the composition of the Indian Capital Market and comment on the role of SEBI in this regard. (15) (2018)

5) Critically evaluate the issue of capital account convertibility in the context of the Indian economy. (15) (2017)

6) Do you think demonetization of higher currency notes will have any effect on output and employment in India? (20) (2017)

7) What are the factors responsible for deterioration in the asset quality of banks in India? (15) (2016)

8) Point out the problems of Indian capital market. In this context, evaluate the role of SEBI in strengthening capital market. (20) (2016)

9) Financial inclusion is a must for healthy growth of the Indian economy. In this context, what measures would you suggest to promote household savings in India? (15) (2015)

10) Nonbanking financial institutions need to be effectively regulated and monitored in India. Can you suggest some measures in this direction? (15) (2015)

10. Inflation: Definition, trends, estimates, consequences and remedies (control): Wholesale Price Index, Consumer Price Index: components and trends.

1) What were the causes of inflationary rise in prices of food grains in India? To what extent was future trading in essential items responsible for this food inflation? (15) (2019)

2) Distinguish between Wholesale Price Index (WPI) and Producer Price Index (PPI) and explain the way Headline Inflation is measured in Inida. Also explain the current approach of the RBI in maintaining price stability and growth. (20) (2018)

11. Budgeting and Fiscal Policy: Tax, expenditure, budgetary deficits, pension and fiscal reforms, Public debt management and reforms, Fiscal Responsibility and Budget Management (FRBM) Act, Black money and Parallel economy in India definition, estimates, genesis, consequences and remedies.

1) Critically evaluate the problems relating to the implementation of GST. (15) (2019)

2) What do you understand by the Fiscal Responsibility and Budget Management (FRBM) Act? Explain its importance in brief. (5) (2018)

3) Why has the GOI considered introduction of the GST to be a great leap forward in the context of the Indian economy? (15) (2018)

4) Do you agree that the recent demonetization in India has not yielded the desired outcomes in respect of curbing the menace of black money? Give reasons in support of your answer. (15) (2018)

5) Analyse the evolution of deficits and debts in India since 1980s. What type of measures would you suggest to achieve fiscal balance? (20) (2018)

6) What are the consequences of black money in India? (5) (2017)

7) Do you think the imposition of GST will lead to enhanced tax collection for the centre and the states? Will it reduce the incidence of taxation on the common people? (15) (2017)

8) What are the flaws in the PDS in India? Do you think Targeted PDS can remove these flaws? Explain. (20) (2017)

9) Distinguish between revenue deficit, effective revenue deficit, fiscal deficit and primary deficit. (5) (2016)

10) Despite increased collections from taxes, tax- GDP ratio in the case of Central Govt continues to be stagnant. Give reasons. (15) (2016)

11) Do you think that the Union Budget (2016-17) is pro-poor? Give reasons in support of your answer. (20) (2016)

12) Do you think that FRBM Act, 2003 should be modified? Give reasons. (5) (2015)

13) Subsidies are a source of inefficiency and corruption. They should be rationalized and ultimately phased out. Illustrate your answer in the Indian context. (20) (2015)