UPSC

INDIAN
ECONOMIC
SERVICE
Previous Years Questions
(Topic wise segregation)
Till 2022

INDIAN
ECONOMY
By ECOHOLICS

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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 stabilisation and
structuralAdjustment packages: Fiscal reforms, Financial sector reforms and Trade reforms

Q1. Differentiate between the strategies for self-reliance through protection and self-reliance
through globalisation. (2022)
Q2. Discuss the rationale and objectives of disinvestment policy in India. Assess its performance.
(2020)
Q3. Discuss briefly the relative merits of International Trade and output expansion for home
market as effective engine of economic development in India. (2019)
Q4. Explain why India continued with inward-looking control-oriented development policy
despite unsatisfactory results. (2019)
Q5. Analyse the causes of India's balance of payments problems before 1990s. How was fiscal
deficit linked to the balance of payment crisis? Examine the measures taken by the
government of India in correcting the twin deficits. (2019)
Q6. Evaluate the liberalisation strategy as adopted in India since 1991 to achieve economic
growth. (2018)
Q7. Critically evaluate inclusiveness and sustainability of growth as the development strategy in
India in recent times. (2017)
Q8. Economic growth in India in the post liberalisation period is service led. Is this growth
sustainable? (2017)
Q9. Why do the basic objectives of planning remain unfulfilled in India? Can India achieve these
objectives in the post liberalization period? (2017)
Q10. Do you agree with the view that the process of globalisation in India has led to 'unequal
competition'? (2016)
Q11. Manufacturing sector needs to be strengthened and developed but the role of the service
sector cannot be ignored. Discuss. (2015)
Q12. Describe India's development strategy of selective inter-dependence after attaining
Independence. (2014)
Q13. How is unemployment measured in India? Discuss giving estimates of various forms of
unemployment in the Indian economy. (2014)
Q14. Differentiate between self-sufficiency and self Reliance as an objective of Indian planning.
(2013)
Q15. Examine wage goods development strategy as an alternative to Mahalanobis development
model at the time of second five-year plan. (2013)
Q16. Examine the changing role of Reserve Bank of India since 1991. (2013)
Q17. What are the measures adopted since 1991 for structural adjustment of the Indian
economy? (2012)
Q18. Give five arguments in favour of Trade Reforms introduced in India in 1991. (2011)

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Q19. "Financial Sector Reforms undertaken in 1991 and 1998 were an essential pre requisite, for a
globally integrated, liberated, based economy." Elaborate. (2011)
Q20. "P.C. Mahalanobis' Four Sectoral Model of second five year plan failed as it was based on
wrong assumptions of the Indian economy." Do you agree? (2011)
Q21. Comment features of planning in India. (2010)
Q22. What triggered the Indian economic reforms of 1991? Explain in detail. (2010)

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

Q1. Write down the key recommendations of the 15th Finance Commission of India. (2022)
Q2. Do you think that for a country like India with lot of diversification, the federal system is a
bettersystem as far as financial aspect is concerned? Substantiate your answer. (2021)
Q3. Discuss the criteria weightage assigned for determining the sharing of Union Tax proceeds
and recommendations of the 14th Finance Commission in India. (2020)
Q4. What are the issues of conflict between the centre and the states with respect to their
financial relations? (2019)
Q5. Describe briefly how resources are transferred from the centre to the states in India. (2017)
Q6. Why are states in India not satisfied with the financial arrangement between the centre and
the states? In this context, what were the major recommendations of the Sarkaria
Commission? (2017)
Q7. Enumerate constitutional provisions relating to financial relations between the centre and
the states. (2016)
Q8. Do you think that the recommendations of the 14th Finance Commission will help in
promoting Cooperative federalism in the country? (2016)
Q9. State the major recommendations of the 14th Finance Commission. (2015)
Q10. Comment on the major Federal fiscal problems between the centre and states in India.
(2015)
Q11. Examine the changing criteria adopted by the Finance Commissions for the vertical
distribution of Central tax proceeds among the states. (2014)
Q12. Mention five issues of conflict between centre and States financial relations. (2013)
Q13. Critically examine the state financiers and suggest alternative sources of financing a State
Government other than grants and loans from the Central Government. (2013)
Q14. What do you mean by vertical and horizontal inequalities? How has the 13th finance
commission helped in meeting the physical needs of states in India to solve this problem?
Comment on the scheme of special grants in a
Q15. Write a critical note on the criteria and relative weights for determining inter-se share of
States in fiscal transfer in India. (2011)

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Q16. Explain the recommendations of the latest Finance Commission of India over sharing of
revenue between the Centre and the States. Comment on them. (2010)

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

Q1. Describe the measures taken by the Government of India to tackle the problem of black
money. To what extent these measures are successful in addressing the problem? (2022)
Q2. What are the basic principles of fiscal management in India? Discuss the role of FRBM rules
(2004) to improve the fiscal health at sub-national level. (2022)
Q3. Evaluate Public Expenditure Management Policy as an instrument of fiscal reforms in India.
(2022)
Q4. Evaluate the post-1991 globalization policy of fiscal reforms, financial sector reforms and
trade reforms in a row. (2021)
Q5. Examine the recent controversy regarding changes in the tax structure on goods and
services. Do you think that new structure is a better one In the current context? Elaborate
your answer. (2021)
Q6. Explain the concept, features and recent changes of the Fiscal Responsibility and Budget
Management (FRBM) Act 2003 in the context of limiting India’s fiscal deficit and debt
deficit. (2020)
Q7. Examine the causes and consequences of the recent slowdown in Indian economy. What
are the initiatives undertaken by the government to overcome it? Give your suggestions.
(2020)
Q8. Critically evaluate the problems relating to the implementation of goods and services tax.
(2019)
Q9. What do you understand by the fiscal responsibility and budget management act? Explain
its importance in brief. (2018)
Q10. Do you agree that the recent demonetisation in India has not yielded the desired outcome
in respect of curbing the menace of Black Money? Give reasons in support of your answer.
(2018)
Q11. Analyse the evolution of deficits and debts in India since 1980s. What type of measures
would you suggest to achieve fiscal balances? (2018)
Q12. Why has the government of India considered the introduction of the Goods and Services
Tax (GST) to be a great Leap Forward in the context of the Indian economy? (2018)
Q13. How was the economic crisis faced by India in the early nineties related to her internal fiscal
imbalances? (2017)
Q14. What are the consequences of black money in India? (2017)
Q15. Do you think that the agricultural income in India should be taxed? Give reasons for your
answer. (2017)

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Q16. 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? (2017)
Q17. Distinguish between revenue deficit, effective revenue deficit, fiscal deficit and primary
deficit. (2016)
Q18. Despite increased collections from taxes, Tax-GDP ratio in the case of Central Government
continues to be stagnant. Give reasons. (2016)
Q19. Do you think that the union budget is pro-poor? Give reasons in support of your answer.
(2016)
Q20. Do you think that Fiscal Responsibility and Budget Management Act, 2003 should be
modified? Give reasons. (2015)
Q21. What constitutes Black Economy of India? Enumerate its dimensions. (2014)
Q22. Do you agree that there is significant divergence between statutory rates of taxes and
effective rates of taxes? Give reasons in support of your answer. (2014)
Q23. Discuss the major problems in implementation of Fiscal responsibility and Budget
Management Act in India. (2013)
Q24. Why is the value of Indian rupee depreciating in recent times? Discuss its implications action
on Current Account Deficit and Fiscal Deficit. Are the measures taken by the government and
the RBI sufficient? If not, what should be done? (2013)
Q25. What policy instruments are used in fiscal reforms in India and for what effect? (2012)
Q26. What are the invisible items in the Balance of payments and why are they so called? (2012)
Q27. Examine the causes of Fiscal deficit in India and highlight feasible mitigation strategies.
(2012)
Q28. Which two accounts are summed up in current account balance in India and how much is
the ratio of Current Account Deficit to GDP now in India? (2011)
Q29. Why are fiscal deficits and revenue deficits a cause of concern, especially for a developing
economy like India? Give recent examples. (2011)
Q30. Comment on parallel economy in India. (2010)
Q31. What is meant by Balance of Payment deficit disequilibrium? Give a brief account of
important causes of the Balance of Payment disequilibrium. Review India's present position
in this respect. (2010)

Poverty, Unemployment and Human Development

Estimates of inequality and Poverty measures for India, Appraisal
ofGovernment measures, India’s human development record in
globalperspective, India’s population policy and development

Q1. Critically examine whether growing population is the cause of poverty or poverty is the main
cause of population growth in India (2022)
Q2. Analyse the trend in consumption inequality in India since the early 1990s. (2022)
Q3. Comment on the latestmeasure of poverty in Indian Context. (2021)

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Q4. Explain the coexistence of rising economic inequality and falling poverty in India. Do you
think that there is necessarily a trade off between the two over time? Explain your answer.
(2021)
Q5. Delineate the major challenges in eliminating unemployment and growth retrogress in the
Indian economy of recent times. Make brief policy suggestions to meet them. (2021)
Q6. Write a note on Human Development Report (HDR) 2019, with reference to India. (2020)
Q7. What are the causes and extent of unemployment in India? What do you understand by the
term jobless growth? Explain this in light of recent experience. (2020)
Q8. What are the main pillars of Make in India programme? Discuss the impact of it on a.
manufacturing and b. automobile sector. (2020)
Q9. Give and account of MGNREGA in India. Explain the extent to which it has been successful in
combating rural unemployment and poverty. What are your suggestions to make it more
effective? (2020)
Q10. Discuss the trend of the sex composition of population in India. What are its determinants?
Comment on the measures adopted by the government of India to check further loss of girls.
(2019)
Q11. The emerging trend in economic inequality in India does not augur well. Point out the main
factors responsible for the trend and suggest appropriate measures to this effect. (2018)
Q12. Do you subscribe to the view that development of economic and social infrastructure is
central to any future strategy of poverty alleviation in India? Elaborate your answer. (2018)
Q13. The success of realising the demographic dividend hinges upon the success of Skill India
programme, which in turn depends upon the resources allocated to human capital
formation. Evaluate critically. (2018)
Q14. What are the various dimensions of poverty? Has the economic reform package ultimately
reduced the incidence of poverty in India? (2017)
Q15. How will you explain the paradox of high economic growth and low human development in
India in recent times? (2017)
Q16. Why is India's Human Development record still poor in spite of higher GDP growth rate?
(2016)
Q17. Anti-poverty programmes need to be reoriented for assets creation rather than providing
employment in rural areas. Comment. (2015)
Q18. India's Human Development record continues to be gloomy. Can you suggest measures to
improve it? (2015)
Q19. Skill development and increase in labour productivity will impact India's growth rate. In this
context, would you suggest changes in India's education policy? (2015)
Q20. 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? (2015)
Q21. Comment on the plausibility of the current poverty estimates in the context of the
controversy surrounding the procedures for poverty estimation. (2014)
Q22. How is unemployment measured in India? Discuss giving estimates of various forms of
unemployment in Indian economy. (2014)

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Q23. Do you agree that urban inequalities have grown with the passage of time in India? Give
reasons in support of your answer. (2014)
Q24. Malthus made a case for delayed marriages to control population but he was silent on
different age specification for male and female. Why, in India, we have different minimum
wages for marriage for boys and girls? (2013)
Q25. Define and distinguish between primary poverty and the secondary poverty in Indian
context. (2013)
Q26. Comment on Swarna Jayanti Shahari Rozgar Yojana for removing urban poverty and
unemployment in India. (2013)
Q27. What are the governmentally run schemes for providing gainful employment in rural areas?
(2012)
Q28. What are the changes which have been incorporated in the National Population Policy 2000,
to improve the quality of population? (2012)
Q29. What are some demographic issues which are a matter of concern for India, as brought out
in census 2011? (2011)
Q30. Why has the Poverty Line methodology given by Planning Commission of India become
controversial? Is the criticism really justified? Examine critically. (2011)
Q31. Explain the relation between poverty, unemployment and inequality. Comment on the
method of determination of the poverty line in India. (2010)

Agriculture and Rural development strategies

Technologies and institutions, Land relations and Land reforms, Rural credit, Modern farm
inputs and Marketing— Price policy and Subsidies; Commercialisation and diversification;
Rural development programmes including poverty alleviation programmes, developmentof
economic and social infrastructure and New Rural Employment Guarantee Scheme

Q1. Discuss how e-NAM and derivatives market linkages can benefit farmers in India. (2022)
Q2. Examine the complementarity between technological change and institutional changein
enhancing agricultural growth in India. Suggest some measures for adoption of technologies
for sustainable farming system in India. (2022)
Q3. What is the Aspirational Districts Programme of the Government of India? Discuss how it is a
manifestation of the inclusive development agenda. (2022)
Q4. Make an impact assessment of Pradhan Mantri Gram Sadak Yojana. (2021)
Q5. Subsidies are a source of inefficiency and corruption. They should be rationalized and
ultimately phased out. Do you agree with this view? Substantiate your answer in the context
of Indian agriculture (2021)

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Q6. Briefly discuss the salient features of National Agriculture Market (NAM) in India. (2020)
Q7. Discuss the salient features of National Food Security Act, (2013) in India. Give a critical
assessment of it. (2020)
Q8. “Subsidies may be a hidden culprit in India’s farm crisis”. Critically examine the statement.
(2020)
Q9. Discuss the trends of agricultural growth rates in India during the post reform period. What
are the factors responsible for the decline in growth rates? Evaluate the measures taken by
the government to revive this sector. (2020)
Q10. Examine the possible consequences of opening up the Indian agriculture to the world
markets? (2019)
Q11. Comment on the required rate of growth for doubling farmers' income within five years.
What measures have been taken by the Government of India to achieve this? Are those
measures adequate? Give your suggestions. (2019)
Q12. What are the problems associated with poverty alleviation programmes of the Government
of India? Do you support the principle of Universal basic income as a better alternative? Give
reasons for your answer. (2019)
Q13. Give a short account of the Pradhan Mantri Krishi Sinchai Yojana. (2018)
Q14. Describe the salient features of National Health Mission in India briefly. (2018)
Q15. What do you understand by diversification of agriculture in India? Critically examine the role
of Agricultural price policy in this context. (2018)
Q16. Agricultural credit from institutional sources is a chronic problem in India. In this context,
explain the role of commercial banks in disbursing agricultural credit. (2017)
Q17. What are the challenges faced by India for financial inclusion in rural areas? Discuss how
this problem can be overcome. (2017)
Q18. What are the flaws in Public Distribution System (PDS) in India? Do you think Targeted
Public Distribution System (TPDS) can remove these flaws? Explain. (2017)
Q19. "Green revolution in India has improved Indian farming but has failed to address
challenges". Do you agree? Give reasons in support of your answer. (2016)
Q20. Subsidies are a source of inefficiency and corruption. They should be rationalised and
ultimately phased out. Illustrate your answer in the Indian context. (2015)
Q21. Industrial development and Agricultural Development are two sides of the same coin. What
policy prescriptions would you advocate in the context of the Indian economy? (2015)
Q22. Give arguments against subsidies in India. (2013)
Q23. Discuss the major weaknesses of Agricultural price policy of India. Suggest suitable remedial
measures. (2013)
Q24. Comment on the various sources of Industrial financing in India for conducive industrial
climate. Suggest suitable for alternative sources for strengthening industrial financing. (2013)
Q25. Highlight the nature of the land reforms still needed in the Indian economy. (2012)
Q26. How is agricultural price policy determined in India? Does the process take note of
Agricultural subsidies? (2012)
Q27. Explain the nature and process of public sector reforms in India. What additional measures
are required? (2012)

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Q28. What were the components of the New Agricultural Strategy adopted in late sixties?
Narrate the positive and negative impacts of the Green Revolution. At present, what
measures should be adopted to bring Second Green Revolution in Indian agriculture? (2012)
Q29. What are the important forms of farm subsidies in India and what is their justification?
(2011)
Q30. What are the challenges and priorities of Indian agriculture in meeting WTO requirements
keeping in view the provisions on Agreement on Agriculture (AOA)? (2011)
Q31. Comment on PURA Model (Providing Urban Amenities in Rural Areas) (2010)
Q32. What measures need to be adopted to improve the economic conditions of farm workers in
India? Discuss. (2010)
Q33. Discuss the agricultural price policy of the Government of India. Will you suggest changes in
this policy? Justify your answer. (2010)

India’s experience with Urbanization and Migration

Different types of migratory flows and their impact on the economies
oftheir origin and destination, The process of growth of urban
settlements; Urban development strategies

Q1. Discuss the characteristic features of internal migration in India. Explain how urbanisation is
linked with migration. What are the major determinants of rural to urban migration in large
agglomerations in India? (2022)
Q2. Do you think that “Back to Village’ policy planning by the Central Government will reduce
pressure on urban amenities? (2021)
Q3. ‘Smart city Mission’ is in contrast to “back to Village’ mission. Do you agree with this view
point? (2021)
Q4. What are the objectives of smart cities mission in India? (2020)
Q5. Discuss in brief the salient features of Digital India programme. (2020)
Q6. Bring out the factors responsible for rapid urbanisation in India. What are the policy
measures taken to prevent the undesirable effects of rapid urbanisation? (2020)
Q7. What are the links between urbanisation 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? (2019)
Q8. 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? (2017)
Q9. Is increasing urbanisation in India the result of push factors rather than pull factors? Discuss.
(2016)
Q10. Mention economic and non-economic factors affecting migration from rural areas to urban
areas in India. (2013)
Q11. What problems are faced in the implementation of Urban Development strategies? (2012)

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Q12. Critically assess the impact of urbanisation on socio-economic situation in India. (2010)

Industry: Strategy of industrial development

Industrial Policy Reform; 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, Privatisation and Disinvestment

Q1. What is competition policy? Why do we need a national competition policy (NCP)? How does
NCP affect economic growth in India? (2022)
Q2. How will you account for the industrial performance scenario of the Indian economy in
2020-21? Comment on the most adverse factor in your opinion in this respect. (2021)
Q3. Explain why many of the public sector enterprises have become a burden on the
Government of India? (2019)
Q4. Examine the role of the state in the new development strategy in India. How far has
government compromised with its social objectives? Do you support the disinvestment
policy? Explain. (2019)
Q5. 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 Government of
India in this light. (2019)
Q6. 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. (2019)
Q7. How can the disinvestment drive be invigorated in the Indian Economy? (2018)
Q8. What in your opinion is the present outlook in respect of the industrial performance of
Indian economy 2008-19? What are the favourable factors, risks and challenges in this
regard? (2018)
Q9. Critically evaluate the government policies towards the public sector enterprises since 1991.
Do you think these enterprises are still relevant for industrial development in India? (2017)
Q10. What are the major problems of industrial development in India? Can the “Make in India
programme recently launched by the Government of India eliminate some of these
problems? (2017)
Q11. Disinvestment policy of the government has failed to deliver results. Do you agree? Give
reasons. (2016)
Q12. Discuss recent initiatives undertaken by the government to boost industrial growth in India.
(2016)
Q13. MSME’s have a critical role in boosting industrial growth in India and ensuring the success of
“Make in India” programme. Explain (2016)
Q14. Bring out the importance of micro, small and medium enterprises in the context of the
Indian economy. (2015)

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Q15. Nonbanking financial institutions need to be effectively regulated and monitored in India.
Can you suggest some measures in this direction? (2015)
Q16. 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? (2015)
Q17. How far can India’s New Competition Policy help to make Indian industry more competitive
especially vis-à-vis the MNC’s? Analyse and support with evidence. (2014)
Q18. How far is the restructuring of the PSUs to make them more competitive a better strategy
to enhance, rather than the tactic policy of privatizing them? Discuss in the light of practical
evidence and recommendations?
Q19. Conceptualize medium enterprises as MSMED Act, 2006. (2013)
Q20. Justify level-playing-field for various categories of Indian industries for coexistence. (2013)
Q21. In quantities terms, bring out how far the disinvestment policy has been successful India?
(2012)
Q22. Discuss the role of share market in maximising resources for investment in Indian industry.
(2012)
Q23. How are micro enterprises different from small scale industries? (2012)
Q24. Critically examine the impact of the New Industrial Policy initiated in India in 1991. (2010)

Foreign Trade
Salient features of India’s foreign trade, Composition, Direction and Organisation of
trade, Recent changes in trade, Balance of payments, Tariff policy, Exchange rate, India and
WTO requirements. Bilateral Trade Agreements and their implications.

Q1. Write down the main features of foreign trade policy (2015-20) of India. (2022)
Q2. Analyse the complementarity, difference and integration between Foreign Direct Investment
(FDI) and Foreign Portfolio Investment (FPI). (2022)
Q3. “FDI is necessary but not sufficient condition for economic growth in India.” Critically
examine. (2022)
Q4. Analyse the effects of tariff protections on domestic industries in India. Evaluate India's
trade openness and tariff policy since the 1991 reforms. (2022)
Q5. Do you think that the current exchange rate policy is appropriate for a sustainable balance of
Trade? (2021)
Q6. Examine the pattern of India’s foreign trade in recent times. Can a self-reliance policy of
trade serve as an engine of economic development? (2021)
Q7. Examine the Foreign Trade Policy in India (2015-2020) in the context of its vision, mission
and objectives. (2020)
Q8. Examine how International agreements under the World Trade Organisation have affected
Indian agriculture and industry. (2019)
Q9. Critically analyse the role of foreign capital in promoting investment in India. (2018)
Q10. Describe in brief the composition of India’s imports during the economic reform’s era?
(2018)

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Q11. Critically evaluate the issue of capital account convertibility in the context of the Indian
economy? (2017)
Q12. Mention the major trade policy reforms in India since 1991. How has it affected the
structure of India’s foreign trade? (2017)
Q13. Explain how curtailment of domestic absorption improved the balance of payment situation
of India? (2017)
Q14. Analyse the extent to which the composition and direction of India’s foreign trade have
undergone changes during last ten years. (2016)
Q15. Enumerate the reasons for decline in growth rate of India’s exports. (2016)
Q16. Why is it crucial to bring about a shift in India’s direction of foreign trade towards trading
blocs such as SAARC and ASEAN, and economic grouping like BRICS? Discussthe expected
benefits and pitfalls in the light of the evidence since the last decade. (2014)
Q17. Critically evaluate the centre’s decision to abdicate its decision-making power in favour of
States on whether to allow or disallow FDI in front-end retail. (2014)
Q18. Critically discuss India’s Food Security Act, 2013 and point out its incongruity with the WTO
norms as recently proclaimed at recently concluded Bali Summit. (2014)
Q19. In what way is the direction of India’s foreign trade changing? Is this also influencing the
composition of trade? (2012)
Q20. Critically assess the role of FDI in insurance and pension funds. (2012)
Q21. What are the main features of Foreign Trade Policy (FTP) 2004-09 adopted by the
government of India? Has India conformed to this? (2011)
Q22. What has been the experience of India in relation to SEZ policy framework? Has it satisfied
the requirements of all principal stakeholders? (2011)
Q23. Trade-Related Intellectual Property Rights (TRIPS). (2010)

Labour
Employment, Unemployment and Underemployment, 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.

Q1. “India has a worse underemployment problem than unemployment.” Do you agree? Give
reasons. (2022)
Q2. Do you agree with the view that Child labour in India is a socio-economic problem? (2021)
Q3. Has the situation of India’s informal sector workers changed in recent times? Suggest policy
interventions for improving the socio-economic conditions of these workers. (2021)
Q4. Discuss the recent reforms in labor market in India. (2020)
Q5. Elaborate the causes of prevalence of child labour in India. Suggest suitable measures to
control it. (2019)

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Q6. 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. (2019)
Q7. Is it possible to transform India's Youth from job seekers to job creators in the changing jobs
scenario in India? What steps have been taken by the government of India to attain this
objective? (2019)
Q8. Define informal sector employment. What types 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 formal sector workers. (2018)
Q9. What are the major social issues related to child labour in India? (2018)
Q10. Do you think that the employment generation strategy adopted by the government of India
since 1991 can reduce unemployment significantly? (2017)
Q11. “Bonded labour continues to exist in India despite government’s efforts to regulate it.”
Comment. (2016)
Q12. India is presently facing dual challenges of developing skills and using skills. Discuss. (2016)
Q13. Child labour continues to be a permanent problem in India. Suggest pragmatic ways to
control it. (2015)
Q14. What provisions have been enshrined in the National Security Act, 2008 for Unorganized
Sector Workers? Discuss critically giving evidence on its progress and achievements so far.
(2014)
Q15. In what way are India’s labour markets rigid? Enlist the recommendations of the second
National Commission on Labour to provide flexibility to Indian labour market. (2014)
Q16. Explain the difficulties in implementation of Ban on Child Labour in India. (2013)
Q17. Comment on the finding of the latest report of the National Commission of Labour
regarding informal sector employment. (2012)
Q18. Examine unit labour cost as a tool for competitiveness in India. Compare this with some
developed economies of the world. (2011)

Inflation
Definition, Trends, Estimates, Consequences and remedies (control): Wholesale Price Index.
components and trends, Consumer Price Index: components and trends

Q1. Discuss the role of Monetary Policy Committee (MPC) in India in the context of inflation
targeting. (2022)
Q2. Analyse the trends in 'Fuel and Power' inflation in India based on WPI. (2022)
Q3. How is core inflation different from CPI headline inflation? What is the rationale in
measuring core inflation? Explain. (2022)
Q4. What have been the causes for the rise in prices in India during the eighties and nineties?
Also, comment on the recent rise in inflationary pressure in terms of cost-push factors and
demand-pull factors. (2021)

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Q5. “WPI is in no way an indicator of consumer inflation; at best it is a determinant for pricing
power of domestic manufacturers”. Discuss. What are the advantages of CPI and WPI?
(2021)
Q6. Distinguish between “wholesale price index” and “consumer price index” in India. (2020)
Q7. What are the causes and consequences of inflation in India? What are the initiatives and
measures taken by the RBI to contain it? In this context, discuss the relevance of inflation
targeting in India. (2020)
Q8. 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? (2019)
Q9. Distinguish between Wholesale Price Index (WPI) and Producer Price Index (PPI) and explain
the way Headline Inflation is measured in India. Also explain the current approach of the RBI
in maintaining price stability and growth. (2018)
Q10. Distinguish between various concepts of consumer price index in India. Which of them is
used for compensating the employees for inflation and why? (2013)
Q11. How is the Consumer Price Index prepared in India? (2012)
Q12. Why is monetary policy alone inadequate to combat inflation in India? Explain in the wake
of raising REPO and reverse REPO rates in recent months by RBI. (2011)
Q13. What is the total number of items in the revised WPI series with 2004-05 base, and what
weights are assigned to Primary articles, Fuel and Power, Manufactured Products? Do you
think the mix of items is appropriate? (2011)
Q14. Define inflation. What are the effects of inflation? Give reasons for the differential effects of
inflation on different sections of India’s population. Indicate the welfare implication. (2010)

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
banksand Non-banking financial institutions, Indian capital market and SEBI, Development in
Global Financial Market and its relationship with Indian Financial Sector.Commodity Market
in India-Spot and Futures Market, Role of FMC.

Q1. What are the basic approaches of financial sector reforms in India? (2022)
Q2. Analyse the performance of commodity futures markets in India. Critically evaluate the
working of Forward Markets Commission (FMC) in India. (2022)
Q3. Discuss the opportunities and challenges of India's insurance sector. How the insurance
sector reforms can resolve these challenges? (2022)
Q4. Explain the rationale for various monetary policy measures undertaken by the RBI during
COVID-19 Pandemic in India. (2022)
Q5. Briefly account for slow rates of capital formation in the Indian economy during the last
decade (2021)
Q6. Do you agree that there has been huge misuse of bank funds in recent years? What in your
opinion are the factors responsible for bank irregularities in this context? (2021)

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Q7. “In the Village itself, no form of credit organization will be suitable except the Co-operative
society. Cooperation has failed, but cooperation must succeed.” How much do you agree
with the view? (2021)
Q8. What are the features and defects of Indian money market? How far have the reforms of the
Indian money market brought improvements in its working since 1991? (2021)
Q9. Give an account of the progress and expansion of banking network and Pradhan Mantri Jan
dhan yojana in the context of financial inclusion in rural India. (2020)
Q10. Discuss the capital market reforms in India. What is the role of capital market in India’s
industrial growth? Highlight the measures taken by Securities Exchange Board of India (SEBI)
in the development of capital market in India. (2020)
Q11. Examine 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.
(2019)
Q12. 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. (2019)
Q13. Give a brief account of the composition of the Indian Capital Market and comment on the
role of Securities and Exchange Board of India (SEBI) in this regard. (2018)
Q14. Do you think demonetization of higher currency notes will have any effect on output and
employment in India? (2017)
Q15. What are the factors responsible for deterioration in the asset quality of banks in India?
(2016)
Q16. Point out the problems of Indian capital market. In this context, evaluate the role of SEBI in
strengthening capital market. (2016)
Q17. 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? (2015)
Q18. In the context of purchasing power parity, Indian rupee is undervalued in dollar terms. How
far is it true? (2015)
Q19. 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. (2015)
Q20. Do rising stock market prices necessarily project the health of the economy? Give a well-
reasoned answer with evidence from the Indian economy. (2014)
Q21. Examine the extent to which RBI’s monetary policy stance on achieving twin objectives of
containing inflation and facilitating growth has been successful. (2014)
Q22. Differentiate between narrow banking and universal banking in Indian context. (2013)
Q23. Examine the changing role of RBI since 1991. (2013)
Q24. How are non-banking financial institutions important in Indian economy? (2012)
Q25. What, in your view, are the causes for the continual fluctuations/fall in the value of the
Indian rupee in Dollar terms in recent times? Suggest possible mitigation strategies. (2012)
Q26. How are foreign banks regulated in India? Do you think such regulation is required in the
Indian context? (2012)

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Q27. What is monetary policy alone inadequate to combat inflation in India? Explain in the wake
of raising REPO and reverse REPO rates in recent months by RBI. (2011)
Q28. Money market in India has developed in terms of participants, number of securities and
institutions. Comment and explain how RBI regulates the money market. (2011)
Q29. Comment on Moral Suasion and the RBI (2010)
Q30. Enumerate the functions of financial markets with special reference to India. (2010)
Q31. Discuss the promotional and developmental functions of the RBI. Evaluate the RBI’s
performance in this sphere. (2010)
Q32. “The existence of Non-Banking Financial Intermediaries (NBFI) has reduced the scope of the
effectiveness of monetary policy”. Do you agree? Explain with examplesdrawn from the
Indian experience. (2010)

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