#22 General topics for Preliminary Examination: Indian Economy - Part 1
The next subject we shall see in the general topics for preliminary examination is the Indian Economy. Surely we have studied topics like Geography and History to an extent in school itself. But unless we have chosen that particular group in school, we shall find Economy to be a rather new topic once we prepare for competitive examinations. But this needn’t scare us even a bit. This is because, beyond studying only what is necessary for the examination, we are not going to inquire in detail into the subject to do research or win a Nobel prize. Instead of learning everything about everything, just by studying only that which is needed for the exam, we can easily clear this hurdle. Indian Economy can account for 13-19 questions in UPSC preliminary examination. A maximum of 19 questions were asked in 2017.
Before going into the syllabus for Economy, learn the meanings of important terms, this will make studies easy, and as we learn more and more new terms, our confidence also increases. For you, here are some sample terms and their one line explanations.
Capitalist Economy - Most of the production and property and privately owned and operated.
Socialist Economy - Most of the production and property are owned and operated by the Government and public institutions.
Mixed Economy - This is a mixture of both of the above.
Gross Domestic Product (GDP) - This is the value of the goods and services produced by a nation (within its geographic limit) in a year.
Gross National Product (GNP) - This is the value of the goods and services produced by a nation (anywhere) in a year.
Net National Product - GNP minus Depreciation
Per Capita Income - The average income of a persons living in a particular place.
Similarly, learn all major terms and concepts in Economy. This is the A,B,C,D of Economy. After learning about a hundred terms, we can start learning in detail about the main schemes related to Economy, mainly the Five Year Plans, their major points, the organisations currently involved in planning in India - NITI Ayog which has replaced the Planning Commission, National Development Council, etc.
Statement 1 Third Five Year Plan is also called Nehru-Mahalanobis plan
Statement 2 Second FYP is also called Gadgil Yojana
Which of these is wrong ?
Both are correct
Both are wrong ( answer )
Next, population, its growth, poverty, unemployment, their main statistics, indices, and major Government schemes related to each, etc., should be learned with full concentration so as to be ready to answer whenever asked. All Census details should be learned state-wise as to which are top 5 and bottom 5 in each category.
1. In Urban population, top 5: Goa, Mizoram, Tamil Nadu, Kerala, Maharashtra
2. In Education, top 5: Kerala, Mizoram, Goa, Tripura, Himachal Pradesh.
Some major committees that looked into poverty and its eradication - Rangarajan Committee, Lakdawala Committee, Tendulkar Committee
Similarly, some major government schemes (learn features of each) :
^ National Skill Development Mission
^ Pradhan Mantri Kaushal Vikas Yojana
^ Pandit Deen Dayal Upadhyaya Shramev Jayate Karyakram
^ Aam Admi Beema Yojana
^ Housing for all
^ Swarn Jayanti Gram Swarozgar Yojana
^ Swarn Jayanti Shehri Rozgar Yojana
^ National Rural / Urban Livelihood Mission
These are only some examples. Prepare tables and learn all schemes.
In economy many people slide because they spend too much time learning too many things. As told before, it is enough to learn clearly only that which is essential for examination. By spending only as much of your limited time on Economy as you do on other subjects, and you can win.
We shall meet in next topic.