UPSC Mains Topic-Wise Previous Year Questions

The UPSC Mains Topic-Wise Previous Year Questions on the Economy, offering valuable insights into the intricacies of economic theories, policies, and contemporary issues, essential for aspirants navigating the UPSC

Table of Contents

National Income

Explain per capita income as a measurement of economic growth. (2000, 2 Marks)
What is Green GNP? (2001, 2 Marks)
Write about the notion of development of under-development. (2005, 2 Marks)
What is Green GDP? (2005, /2 Marks)
What is Gender Empowerment Measure (GEM)? (2005, 2 Marks)
Write about notes on Mixed Economy. (2006, 2 Marks)
Explain the terms:
(a) Merit Goods
(b) Trickle Down Theory
(c) Engel’s Law
(d) Meaning of CCIL
(e) Administered Price
(f) Capital-Output Ratio (2007, 2 Marks each)
Critically examine the differing estimates for (i) poverty figures, and (ii) GDP growth data for April- June 2010, that have been in the news recently. In your view, what estimates are more reflective of the ground reality, and why? (2010, 20 marks)
“Industrial growth rate has lagged behind in the overall growth of Gross-Domestic-Product (GDP) in the post-reform period.” Give reasons. How far the recent changes in Industrial Policy are capable of increasing the industrial growth rate? (250 words) (2017, 15 Marks)
Do you agree with the view that steady GDP growth and low inflation have left the Indian economy in good shape? Give reasons in support of your arguments. (150 words) (2019, 10 Marks)
Define potential GDP and explain its determinants. What are the factors that have been inhibiting India from realizing its potential GDP? (150 words) (2020, 10 marks)
Explain the difference between the computing methodology of India’s Gross Domestic Product (GDP) before the year 2015 and after the year 2015. (150 words) (2022, 10 Marks )
Do you agree that the Indian economy has recently experienced a V-shaped recovery? Give reasons in support of your answer. (250 words) (2021, 15 Marks)

Various Development Indices

What are the UNDP indicators with reference to the planning process? (2001, 2 Marks)
Distinguish between the Human Development Index and the Gender-related Development Index. (2001, 2 marks)
What is meant by the Trickle-Down theory of development? (2001, 2 Marks)
What is the misery index? (2001, 2 Marks)
Examine the effect of economic development on environmental degradation in India. (2004, 15 Marks)
How is the human development index for life expectancy measured? 10 Juoda (2004, 2 Marks)
Write about the Physical Quality Life Index. (2005, 2 marks)
How has the Indian State tackled the trade-off between environment and development? (150
words) (2005, 15 Marks)
Discuss about India on Global Competitiveness Index-2007. (150 words) (2008, 15 Marks)
Bring out the significance of GDI and GEM as components of the UN’s Human Development Report (HDR). Comment on India’s relative rankings with regard to HDI and GDI. (2010, 5 marks)

Sectors of Indian Economy

Distinguish between primary sector, secondary sector and tertiary sector. What is the change in the share of each sector in Gross Domestic Product (GDP) during the period of 1950-2000? (2004, 2 Marks
Explain the necessity and role of controls in a mixed economy like India. (2004, 2Marks)
Write about crude oil price and Indian economy. (2005, 2 marks)
How far has the impact of the global meltdown been reflected in the Economic Survey 2008-09? Identify some of the core areas given priority to neutralize the adverse effects of the global downturn. (2009, 30 marks)
Bring out the sectoral and state-wise distribution patterns of Foreign Direct Investement (FDI) in flows into the country. (2010, 5 marks)
Bring out the FDI and employment implications of China being a manufacturing hub and India a services hub? (2010, 12 Marks)
Keeping in view the informal sector’s share in the total workforce of the country, critically examine the relevant inclusive measures initiated by the Government of India and their effectiveness. (2012, 25 Marks)
Normally countries shift from agriculture to industry and then later to services, but India shifted directly from agriculture to services. What are the reasons for the huge growth of services vis-à-vis industry in the country? Can India become a developed country without a strong industrial base? (2014, 12 Marks)
Among several factors for India’s potential growth, savings rate is most effective one. Do you agree? What are the other factors available for growth potential? (150 words) See (2017, 10 marks)
Account for the failure of the manufacturing sector to achieve the goals of labor-intensive exports. Suggest measures for more labor-intensive rather than capital-intensive exports. (150 words) (2017, 10 Marks)
Distinguish between ‘care economy’ and ‘monetized economy’. How can care economy be brought into monetized economy through women empowerment? (250 words) (2023, 15 marks)

Industry/Public Sector Enterprises (Development, Policy, Measure and Achievement)

What is Business Process Outsourcing (BPO)? (2004, 2 marks)
What are the reasons for industrial sickness in India? Suggest suitable remedies. (2005, 30 Marks)
Discuss the role of public sector during the post-reform period of Indian economy. (2006, 15 Marks)
Write about Business Process Outsourcing in 20 words. (2006, 2 Marks)
Write short notes on Footloose Industries. (2007, 2 Marks)
Write notes on Special Economic Zone (SEZ). (20 words) (2007, 2 Marks)
Bring out the pros and cons of Special Economic. Zones. (150 words) (2008, 15 Marks)
Bring out the importance of the ‘Small and Medium Enterprises Expo and Conference’ held in Dubai last year for Indian business. (2011, 12 Marks)
There is a clear acknowledgment that Special Economic Zones (SEZs) are a tool of industrial development, manufacturing and exports. Recognizing this potential, the whole instrumentality of SEZs requires augmentation. Discuss the issues plaguing the success of SEZs with respect to taxation, governing laws and administration. (2015, 12 Marks)
Rehabilitation of human settlements is one of the important environmental impacts which always attract controversy while planning major projects. Discuss the measures suggested for mitigation of this impact while proposing major developmental projects. (2016, 12 Marks)
“To ensure effective implementation of policies addressing water, sanitation and hygiene needs the identification of the beneficiary segments is to be synchronized with the anticipated outcomes.” Examine the statement in the context of the WASH
scheme. (150 words) (2017, 10 Marks)
Faster economic growth requires an increased share of the manufacturing sector in GDP, particularly of MSMEs. Comment on the present policies of the Government in this regard. (150 words) (2023, 10 Marks)

Agriculture (Development, Policy, Measure, and Achievement)

What is water harvesting? Describe its relevance in the Indian context. (2000, 15 Marks)
What are ‘Minimum Support Prices’ in agricultural products? What are their objectives?(2002, 15 Marks)
What has been the policy of agricultural development during last two decades in India? (2004, 2 Marks)
Write about the Second Green Revolution. (2005, 2 Marks)
Comment on the relationship between credit availability and agricultural growth in India. (250 words) (2007, 30 Marks)
Agricultural productivity in India remains low. Explain the reasons for this situation. (150 words) (2008, 15 Marks)
Elaborate the steps taken by the Government for regionally differentiated approach to increase crop production and diversification in the country. (2009, 15 Marks)
Livestock rearing has a big potential for providing non-farm employment and income in rural areas. Discuss suggesting suitable measures to promote this sector in India. (2015, 12 Marks)
What is water-use efficiency? Describe the role of micro-irrigation in increasing the water-use efficiency. (2016, 12 Marks)
What are the reasons for poor acceptance of cost- effective small processing unit? How the food processing unit will be helpful to uplift the socio-economic status of poor farmers? (150 words) (2017, 10 Marks)
What are the major reasons for declining rice and wheat yield in the cropping system? How crop diversification is helpful to stabilise the yield of the crops in the system? (250 words) (2017, 15 Marks)
How do subsidies affect the cropping pattern, crop diversity and economy of farmers? What is the significance of crop insurance, minimum support price and food processing for small and marginal farmers? (250 words) (2017, 15 Marks)
What do you mean by Minimum Support Price (MSP)? How will MSP rescue the farmers from the low-income trap? (2018, 10 Marks)
Sikkim is the first ‘Organic State’ in India. What are the ecological and economic benefits of an Organic State? the allure and (2018, 10 Marks)
Assess the role of the National Horticulture Mission (NHM) in boosting the production, productivity, and income of horticulture farms. How far has it succeeded In increasing the income of farmers? (2018, 15 Marks)
How has the emphasis on certain crops brought about changes in cropping patterns in recent past? Elaborate the emphasis on millet production and consumption. (2018, 15 marks)
How far is the Integrated Farming System (IFS) helpful in sustaining agricultural production? (150 words) (2019, 10 Marks)
Elaborate the impact of National Watershed Project in increasing agricultural production from water-stressed areas. (150 words) (2019, 10 Marks)
How was India benefit from the contributions of Sir M.Visvesvaraya and Dr. M. S. Swaminathan in the fields of water engineering and agricultural science respectively? (150 words) (2019, 10 Marks)
What are the main constraints in transport and marketing of agricultural produce in India? (150 words) (2020, 10 Marks)
What are the major factors responsible for making the rice-wheat system a success? In spite of this success how has this system become bane in India? (250 words) (2020, 15 Marks)
How and to what extent would micro-irrigation help in solving India’s water crisis? (150 words) (2021, 10 Marks)
What are the main bottlenecks in the upstream and downstream process of marketing of agricultural products in India? (250 words) (2022, 15 Marks)
What is an Integrated Farming System? How is it helpful to small and marginal farmers in India? (250 words) (2022, 15 Marks)
Explain the changes in cropping patterns in India in the context of changes in consumption patterns and marketing conditions. (250 words) (2023, 15 Marks)

Public Distribution System/Food Security

“Small-holder farms need to be strengthened to achieve national food security.” Do you agree with this assessment? (150 words) (2010, 24 Marks)
Comment on the recommendations of the Wadhwa Commission on the Public Distribution System. (2010, 5 Marks)
There is also a point of view that Agricultural Produce Market Committees (APMCs) set up under the State Acts have not only impeded the development of agriculture but also have been the cause of food inflation in India. Critically examine. (2014, 12 Marks)
In view of the declining average size of land holdings in India which has made agriculture non-viable for a majority of farmers, should contract farming and land leasing be promoted in agriculture? Critically evaluate the pros and cons. (2015, 12 Marks)
In what way could the replacement of price subsidy with Direct Benefit Transfer (DBT) change the scenario of subsidies in India? Discuss. (2015, 12 marks)
How can the ‘Digital India’ program help farmers to improve farm productivity and income? What steps has the Government taken in this regard? (2015, 12 Marks )
What is allelopathy? Discuss its role in major cropping systems of irrigated agriculture. (2016, 12 Marks)
Given the vulnerability of Indian agriculture to vagaries of nature, discuss the need for crop insurance and bring out the salient features of the Pradhan Mantri Fasal Bima Yojana (PMFBY). (2016, 12 Marks)
Explain various types of revolutions, that took place in Agriculture after independence of India. How these revolutions have helped in poverty alleviation and food security in India? (150 words) (2017, 10 marks)
What are the reformative steps taken by the government to make food grain distribution system more effective? (250 words) (2019, 15 Marks)

Food Processing Industry

What do you mean by providing industry status to agriculture in India? (2001, 2 Marks)
What is Agri-Trade? (2006, 12 Marks)
Explain Mega Food Park Scheme of the Government of India. (2007,7 Marks)
Write about fruit production in India. (2009, 3 Marks)
Write brief note in about 30 word on ‘Vegetable Gold’. (2009, 3 Marks)
What are the impediments in marketing and supply chain management in developing the food processing industry in India? Can e-commerce help. in overcoming these bottlenecks? (2015, 12 Marks)
Examine the role of supermarkets in the supply chain management of fruits, vegetables and food items. How do they eliminate number of intermediaries? (2018, 10 Marks)
Elaborate the policy taken by the government of India to meet the challenges of the food processing sector. (250 words) (2019, 15 Marks)
What are the challenges and opportunities of food processing sector in the country? How can income of the farmers be substantially increased by encouraging food processing? (150 words) ΜΟΥ (2020, 10 Marks)
Elaborate the scope and significance of the food processing industry in India. (150 words)
(2022, 10 Marks)

Land Reforms

Establish a relationship between land reforms, agriculture productivity and elimination of poverty in the Indian economy. Discuss the difficulties in designing and implementing of agriculture-friendly land reforms in India. (2013, 10 Marks)
The Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013 has came into effect on 1st January 2014. What are the key issues that would get addressed with the Act in place? What implications would it have on industrialization and agriculture in India? (2014, 12 Marks)
Discuss the role of land reforms in agricultural development. Identify the factors that were responsible for the success of land reforms in India. (2016, 12 Marks)
How did land reforms in some parts of the country help to improve the socio-economic conditions of marginal and small farmers? (150 words) (2021, 10 Marks)
State the objectives and measures of land reforms in India. Discuss how land ceiling policy on landholding can be considered as an effective reform under economic criteria. (150 words) (2023, 10 Marks)

Planning in India (Objectives/Development/ Allocation of Funds During Five Years Plans)

India is rapidly emerging as an Information Technology (IT) Superpower. Discuss some aspects of the growth of this Sector in the Indian economy. What role can public policy play in further enhancing growth prospects in this Sector? (2000, 30 Marks)
Control over growth of the population in India is an essential condition for the country’s rapid economic development. Discuss. (2000, 30 Marks)
Write short note on Multi-level planning in India. (2000, 2 Marks)
What are the main objectives of the 9th Five-Year Plan of the Government of India? (2000, 2 Marks)
What do you mean by ‘Parallel Economy’? (2000, 3 Marks)
What are the objectives of New Economic Policy of the Government of India? (2000, 3 Marks)
Write a note on Rao-Manmohan’s model of development. (2000, 3 Marks)
What is meant by the couple protection ratio? (2001, 2 Marks)
Explain rolling plan. (2001, 2 Marks)
Define the concept of ‘growth centres’ and evaluate its relevance in regional planning in India. (2002, 10 Marks)
Write a note on the strategy of planning in India since 1951. (2003, 30 Marks)
Outline the important objectives of the Tenth Five Year Plan. (2003, 15 marks)
What is Plan Holiday? (2003, 2 Marks)
What is Enterprise Resource Planning? (2004, 10 Marks)
State the comprehensive structural reforms undertaken to improve the Indian economy since 1991. (2004, 30 Marks)
What is ‘social justice’ in the context of the Indian economy? (2004, 2 marks)
What is the Gandhian economy? (2005, 2 Marks)
What is a rolling settlement? (2006, 2 Marks)
“Cost-benefit analysis should not be the sole consideration, while deciding to host events like the Commonwealth Games.” Critically comment on this perspective. (2010, 5 Marks)
“There is an urgent need for the Planning Commission to revise the chapter on health in the 12th Plan document.” Comment. (2012, 15 Marks
“Domestic resource mobilization, though central to the process of Indian economic growth, is characterized by several constraints.” Explain. (2012, 15 marks)
Capitalism has guided the world economy to unprecedented prosperity. However, it often encourages short-sightedness and contributes to wide disparities between the rich and the poor. In this light, would it be correct to believe and adopt capitalism for bringing inclusive growth in India? Discuss. (2014, 12 Marks
The nature of economic growth in India in recent times is often described as jobless growth. Do you agree with this view? Give arguments in favour of your answer. (2015, 12 Marks)
Comment on the challenges for inclusive growth which included careless and useless manpower in the Indian context. Suggest measures to be taken to face these challenges. (2016, 12 marks)
One of the intended objectives of the Union Budget 2017-18 is to ‘transform, energise and clean India’. Analyse the measures proposed in the Budget 2017- 18 to achieve the objective. (250 words) (2017, 15 marks)
What are the salient features of ‘inclusive growth’? Has India been experiencing such a growth process? Analyse and suggest measures for inclusive growth. (150 words) (2017, 15 Marks)
How are the principles followed by the NITI Aayog different from those followed by the erstwhile Planning Commission in India? (2018, 15 Marks)
It is argued that the strategy of inclusive growth is intended to meet the objectives of inclusiveness and sustainability together. Comment on this statement. (250 words) (2019, 15 Marks)
Explain intra-generational and inter-generational issues of equity from the perspective of inclusive growth and sustainable development. (150 words) (2020, 20 Marks)

Foreign Trade & Balance of Payment

Foreign Trade/Balance of Payment

The main thrust of Export-Import Policy 2002-07 is to create a framework for enhancing India’s export capability. In light of this statement outline the salient features of EXIM Policy 2002-07. (2002, 30 Marks)
Why did India have a surplus in current account balance in 2001-02 after a gap of 24 years? (2003, 2 Marks)
What is the role of external financial assistance in the Indian economy? (2005, 15 marks)
What is Euro-control? (2005, 2 Marks
What are non-factor services in India’s balance of payments? (2006, 2 Marks)
Explain the term Balance on Current Account. (2007, 2 Marks)
Discuss about Assistance to the States for Development of Export Infrastructure and Other Activities (ASIDE). (150 words) (2008, 15 Marks)
Write about the following (answer each question in about 20 words): (2008, 6 Marks)
(a) Non-tariff trade barriers
(b) Current Account Balance
(c) Free Trade Area
The craze for gold in Indians have led to a surge in import of gold in recent years and put pressure on balance of payments and external value of the rupee. In view of this, examine the merits of the Gold Monetization Scheme. (2015, 12 Marks)
How globalization has led to the reduction of employment in the formal sector of the Indian economy? Is increased information detrimental to the development of the country? (2016, 12 marks)
How would the recent phenomena of protectionism and currency manipulations in world trade affect the macroeconomic stability of India? (2018, 15 Marks)

Liberalisation/Privatisation/Globlisation (LPG)/FDI

Liberalization of the Indian economy since 1991 has led to excessive consumerism and over-production of ‘white goods’. Elucidate. (2001, 15 Marks)
What is meant by the “Most Favoured Nation” policy? (2001, 2 Marks)
Outline the main objectives and achievements of the policy of disinvestment in India. (2002, 15 Marks)
Explain RBI’s ‘Automatic route’ in FDIs. (2002, 2 Marks)
Name the two agencies that have helped to promote Foreign Direct Investment (FDI) in India. (2003, 2 marks)
Explain the term Most Favoured Nations. (2007, 2 Marks)
Assess the performance of India in attracting Foreign Direct Investment (FDI). (250 words) (2008, 30 Marks)
“Foreign investment is far from being critical to India’s economic growth.” Comment. (2009, 20 Marks)
“The lesson of the current global financial crisis is that India should halt and may be even reverse financial liberalization.” Comment. (2009, 20 Marks)
What is ‘Round Tripping’ in the context of FDI inflow, and why it has been in the news recently in the case of India? (2010, 5 Marks)
Explain the provision of OGL. (2002, 2 Marks)
(a) Discuss the impact of FDI entry into the multi-trade retail sector on supply chain management in the commodity trade pattern of the economy. (100 words] (2013, 5 Marks)
(b) Though India allowed Foreign Direct Investment (FDI) in what is called multi-brand retail through the joint venture route in September 2012, the FDI, even after a year, has not picked up. Discuss the reasons. (100 words] (2013, 5 Marks)
Foreign Direct Investment (FDI) in the defense sector is now set to be liberalized. What influence this is expected to have on Indian defence and economy in the short and long run? (2014, 12 marks)
Has the Indian governmental system responded adequately to the demands of Liberalization, Privatization and Globalization that started in 1991? What can the government do to be responsive to this important change? (2016, 12 marks)
Justify the need for FDI for the development of the Indian economy. Why there is a gap between MOUS signed and actual FDIs? Suggest remedial steps to be taken to increase actual FDIs in india. (2016, 12 marks)

Capital/Current Account Convertibility

What do you understand by ‘Current Account Convertibility of Rupee’? (2001, 2 Marks)
What do you understand by ‘Capital Account Convertibility of Rupee? (202, 2 Marks)
Point out the measures undertaken towards flexibility in capital account transactions during the recent past. (2003, 15 Marks)
Write about full convertibility. (2005, 15 Marks)
Explain full convertibility of Indian Rupee. (2006, 10 Marks)

Fiscal Policy – Tax Structure, Reforms and Changes, Budget and Fiscal Federalism

Write a note on the MODVAT Scheme of 1986. (2000, 2 Marks)
What do you mean by revenue deficit in the Central Government’s Budget? mata (2000, 2 Marks)
What are the hurdles faced by the Finance Ministers of India in keeping the fiscal deficit below 3-4 percent of the GDP? Suggest steps to lower the fiscal deficit. (2001, 15 Marks)
What is the peak rate of Customs duty? What are its objectives in India? (2002, 2 Marks)
Define fiscal deficit. (2002, 2 Marks)
The Union Budget 2002-03 recommended some services to be taxed. Name any 4 of these services. (2002, 2 Marks)
Distinguish between ad-valorem and specific duties. (2002, 2 Marks)
Define zero-based budget. (2002, 2 Marks)
What is Value Added Tax? (2003, 2 Marks)
What is the main thrust of the Fiscal Responsibility and Budget Management Bill? (2003, 2 marks)
Explain the essential feature of the differential rate of interest scheme. (2003, 2 Marks)
Which are the three major items of expenditure of the Government of India on revenue account? (2003, 2 Marks)
What is Countervailing Duty? (2007, 2 Marks)
What is Budget Deficit? (20 words) (2007, 2 Marks)
What are the reasons for the introduction of the Fiscal Responsibility and Budget Management (FRBM) Act, 2003? Discuss critically its salient features and their effectiveness. (200 words) (2013, 10 Marks)
What is the meaning of the term ‘tax expenditure’? Taking the housing sector as an example, discuss how it influences the budgetary policies of the government. (200 words) (2013, 10 Marks)
Enumerate the indirect taxes which have been subsumed in the Goods and Services Tax (GST) in India. Also, comment on the revenue implications of the GST introduced in India since July 2017. (150 words) (2019, 10 Marks)
Public expenditure management is a challenge to the government of India in the context of budget-making during the post-liberalization period. Clarify it. (250 words) (2019, 15 Marks)
Explain the rationale behind the Goods and Services Tax (Compensation to States) Act of 2017. How has COVID-19 impacted the GST compensation fund and created new federal tensions? (250 words) (2020, 15 Marks)
Distinguish between Capital Budget and Revenue Budget. Explain the components of both these budgets. (150 words) (2021, 10 Marks)

Monetary Policy & Banking

What is Cash Reserve Ratio? (2004, 2 Marks)
What does ‘priority sector lending’ mean? (2004, 2 Marks)
What do you understand by ‘repo rate’ and ‘reverse repo rate’? What are the implications in raising these rates? (2010, 12 Marks)
“In the villages itself, no form of credit organization will be suitable except the cooperative society.” All India Rural Credit Survey. Discuss this statement in the background of agricultural finance in India. What constraints and challenges do financial institutions supplying agricultural finance face? How can technology be used to better reach and serve rural clients? (2014, 12 Marks)
Discuss the Namami Gange and National Mission for Clean Ganga (NMCG) programmes and the causes of mixed results from the previous schemes. What quantum leaps can help preserve the river Ganga better than incremental inputs? (2015, 12 Marks)
Pradhan Mantri Jan-Dhan Yojana (PMUDY) is necessary for bringing the unbanked to the institutional finance fold. Do you agree with this for financial inclusion of the poorer section of the Indian society? Give arguments to justify your opinion. (2016, 12 Marks)
Is inclusive growth possible under market economy? State the significance of financial inclusion in achieving economic growth in India. (150 words) (2022, 10 marks)

Prices and Inflation

Differentiate between ‘galloping inflation’ and ‘run-away inflation’. (2001, 2 Marks)
Illustrate Lorentz curve. (2001, 2 Marks)
Write about Cost-push inflation. (2005, 2 Marks)
What is Phillips curve? (2006, 2 Marks)
What is Laffer curve? (2006, 2 marks)
What is stagflation? (20 words) (2007, 2 marks)
Why the Central Statistics Office has notified a new series of Consumer Price Index from this year? (2011, 5 Marks)

Money Market and Capital Market

Discuss the nature and causes of the UTI crisis with particular reference to US-64. How does this UTI fiasco affect the investment climate in India? (2001, 15 Marks)
What is ‘CRISIL? What does it do? (2001, 2 Marks)
Expand the term ‘NASDAQ’. (2001, 2 Marks)
Distinguish between a ‘Hard’ currency and a ‘Soft’ currency. (2001, 2 Marks)
Highlight the main features of the policy relating to buy-back of shares. (2003, 2 Marks)
Write about Dow Jones. (2005, 2 Marks)
Write about Repo market. (2005, 2 Marks)
Describe the main sources of Industrial finance in India. How could India be benefitted from recent developments in international finance? (2006, 30 Marks)
What is Hundi?(2006, 2 Marks)
What are nifty and nifty junior? (2006, 2 Marks)
What is Cheap Money. (20 words) (2007, 2 Marks)
What is Hot Money. (20 words) (2007, 2 Marks)
What is Venture Capital? (20 words) (2007, 2 Marks)
After the Septemeber Ist changes, do you think that Unit Linked Insurance Plans (ULIPs) and Mutual Funds (MFs) are on a level playing field? Substantiate your answer from the perspective of an ordinary investor. (2010, 12 Marks)
Comment on the important changes introduced in respect of the Long-term Capital Gains Tax (LCGT) and Dividend Distribution Tax (DDT) in the Union Budget for 2018-19. (2018, 10 Marks)

Capital Formation

What is ICOR (Incremental Capital Output Ratio)? (2000, 2 Marks)
Indian economy presents a paradox of high savings rate with low income and high savings rate with low growth rate. Analyse. 9 (2001, 30 Marks)
Write brief note on the National Investment Fund. (2010, 2 Marks)

Infrastructure

Highlight salient features of the ‘National Highway Development Project’. (2002, 2 Marks)
What ails India’s road transport economy? Suggest measures of remedy. (2004, 15 Marks)
What is the energy independence? Discuss how India can be transformed into an ‘Energy-independent Nation. (2005, 10 Marks)
What is eco-tourism? How could it be promoted in India? (2005, 10 Marks)
Write note on Sethusamudram Project. (2005, 10 Marks)
Technological changes have brought in a major shift in the use of roads as transport corridors in India. How far do you agree with this view? (2007, 10 Marks)
In the context of recent incidents, suggest measures on how security of passengers and property can be improved over Indian Railways. (2009, 15 Marks)
Comment on the salient features of the Integrated Energy Policy recently approved by the Government and its implications on the energy security needs of the country. (2009, 30 Marks)
Evaluate India’s approach towards meeting the country’s growing energy demands. Compare the success of this approach with that of another Asian giant which has perhaps the fastest growing energy (2010, 20 Marks)
Are the ‘Dedicated Freight Corridor’ railway project and the ‘Golden Quadrilateral’ road project mutually complementary or competitive? Assess. (2010, 12 Marks)
The Telecommunications Ministry’s proposed Spectrum Management Commission. (2011, 5 Marks)
The adoption of PPP model for the infrastructure development of the country has not been free of criticism. Critically discuss the pros and cons of the model. (200 words) (2013, 10 Marks)
“While we flaunt India’s demographic dividend, we ignore the dropping rates of employability.” What are we missing while doing so? Where will the jobs that India desperately needs come from? Explain. (2014, 12 marks)
Explain how Private Public Partnership arrangements, in long gestation infrastructure projects, can transfer unsustainable liabilities to the future. What arrangements need to be put in place to ensure that successive generations’ capacities are not compromised? (2014, 12 Marks
National Urban Transport Policy emphasizes on ‘moving people’ instead of ‘moving vehicles. Discuss critically the success of the various strategies of the Government in this regard. (2014, 12 Marks)
Examine the development of airports in India through joint ventures under Public-Private Partnership (PPP) model. What are the challenges faced by the authorities in this regard? (150 words) (2017, 12 Marks)
“Access to affordable, reliable, sustainable and modern energy is the sine qua non to achieve Sustainable Development Goals (SDGs).” Comment on the progress made in India in this regard. (2018, 10 marks)
“Investment in infrastructure is essential for more rapid and inclusive economic growth.” Discuss in the light of India’s experience. (250 words) (2021, 15 Marks)
Why is Public Private Partnership (PPP) required in infrastructural projects? Examine the role of the PPP model in the redevelopment of Railway Stations in India. (150 words) (2022, 10 marks)

Programs: Poverty Alleviation, Employment Generation/Rural Development

What is a (Revised) Targeted Public Distribution System? What are its main features? (2000,15 Marks)
What are the objectives of Social Security? (2000, 2 Marks)
Describe the use of ‘Command Area Development’ in India. (2000, 2 Marks)
What is the rationale for ‘Mid-day Meal Scheme? (2000, 2 Marks)
What has been the impact of the recent economic reforms programme on the incidence of poverty in India? (2000, 2 Marks)
What is the incidence of poverty in India? How should poverty alleviation programmes be constructed? (2001, 30 Marks)
With what objectives was the ‘Annapurna’ Scheme launched? (2002, 2 Marks)
Elucidate ‘Sampoorna Gramin Rozgar Yojna’. (2002, 2 Marks)
What is TRIFED’? What are its objectives? (2002, 10 marks)
What was the essential feature of the Pradhan Mantri Gram Sadak Yojana? (2003, 2 marks)
How is the poverty level measured? Evaluate poverty eradication programmes in India. (2004, 30 marks)
Write about Kasturba Gandhi Balika Vidyalaya Yojana. (2005, 2 Marks)
Bring out the main objectives of Rashtriya Krishi Bima Yojana. The scheme is being implemented by which agency? (2007, 7 Marks)
Write about Rajiv Gandhi Seva Kendra (20 words) (2009, 2 Marks)
What do you understand by the term ‘Innovation’? Discuss the need for launching a national innovation policy in India. (2012, 25 Marks)
“Economic growth in the recent past has been led by an increase in labour productivity.” Explain this statement. Suggest the growth pattern that will lead to the creation of more jobs without compromising labour productivity. (250 words) (2022, 15 marks)
Most of the unemployment in India is structural in nature. Examine the methodology adopted to compute unemployment in the country and suggest improvements. (250 words) (2023, 15 Marks)

World Economic Organisations

Discuss the reasons for the failure of the Seattle Millennium talks on the WTO (World Trade Organisation). Discuss some implications of this failure for the Indian economy. (2000, 15 Marks)
What is ‘dumping’? What is its objective? (2002, 2 Marks)
What are the major provisions of Agreements on Agriculture in the context of the World Trade Organisation? (2004, 2 Marks)
Elucidate Special Drawing Rights. (2004, 2 marks)
What is WTO? What are India’s objections to its overall functioning? (2004, 10 marks)
What are the major provisions of Agreements on Agriculture in the context of World Trade Organisation? (2005, 2 Marks)
What is banana war? (2005, 2 Marks)
What do we understand by the ‘Doha Round’ of talks? (2006, 10 marks)
What is CEMA bloc? (2006, 2 marks)
Discuss the importance of World Trade Organisation (WTO) to the Indian economy in the light of various opportunities and challenges at the global level. (2006, 30 Marks)
What is the difference between Green Box subsidies and Blue Box subsidies? (2006, 2 Marks)
What is Dumping? Evaluate the remedial measures taken by the Government of India vis-a-vis WTO provisions regarding dumping. (250 words) (2000, 30 Marks)
Discuss India’s stand on agricultural issues in WTO’s Ministerial Conferences since the Doha Round. (250 words) (2008, 30 marks)
“In the WTO negotiations over the years of the DOHA Round, India appears to be diluting its stand on agriculture issues to pursue perceived gains in services.” Critically examine this statement. (2009, 20 Marks)
Does India need the World Bank? (2009, 15 Marks)
Compare and contrast the role of the IMF with that of the World Bank (2010, 5 Marks)
Comment on the reasons for the recent economic crisis in the so-called “PIGS countries of Europe. (2010, 5 Marks)
Food Security Bill is expected to eliminate hunger and malnutrition in India. Critically discuss various apprehensions in its effective implementation along with the concerns it has generated in WTO. (200 words) (2013, 10 marks)

Indian Economic Organisations

What are the main objectives of NABARD? (2000, 2 Marks)
What is the role of SEBI? (2002, 2 marks
What is a Finance Commission? (2002, 15 Marks
What are the objectives of the Twelfth Finance Commission? (2004, 2 Marks
Exchange Board of India (SEBI)? (2002, 2 Marks)
What is the main objective of Securities and Exchange Board of India (SEBI)? (2004, 2 Marks
What is IFC? (2005, 2 Marks)

Committee/Policy

What were the major recommendations of the Task Force on Direct Taxes appointed under the Chairmanship of Shri Vijay L. Kelkar? (2003, 30 marks)
Describe the recommendations of the Narasimham Committee regarding the banking sector in India (2004, 15 Marks)
What were the terms of reference of the Abid Hussain Committee? (2005, 2 Marks)
Discuss the recommendations of the RBI-appointed Damodaran committee on customers service in Banks.(2011, 5 Marks)
List the main objectives of the National Manufacturing Policy (NMP), 2011. (2012, 5 marks)
With a consideration towards the strategy of inclusive growth, the new Companies Bill, 2013 has indirectly made CSR a mandatory obligation. Discuss the challenges expected in its implementation in earnest. Also, discuss other provisions in the Bill and their implications (200 words) (2013, 10 marks)
Examine the impact of liberalization on companies owned by Indians. Are they competing with the MNCs satisfactorily? Discuss. (200 words) (2013, 10 Marks)
Discuss the rationale for introducing Goods and Services Tax (GST) in India. Bring out critically the reasons for the delay in the rollout for its regime. (200 words) (2013, 10 Marks)

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UPSC Mains Topic-Wise Previous Year Questions – Economy