Economy Previous Years Questions

GS-III: Technology, Economic Development, Biodiversity, Environment, Security and Disaster Management

Indian Economy and issues relating to planning, mobilization of resources, growth, development and employment

Discuss the rationale for introducing Goods and Services Tax (GST) in Bring out critically the reasons for the delay in roll out for its regime. (2013, 10 Marks)
“While we flaunt India’s demographic dividend, we ignore the dropping rates of ” What are we missing while doing so? Where will the jobs that India desperately needs come from? Explain. (2014,12.5 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 In this light, would it be correct to believe and adopt capitalism for bringing inclusive growth in India? Discuss. (2014, 12.5 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 (2015, 12.5 Marks)
In what way could replacement of price subsidy with Direct Benefit Transfer (DBT) change the scenario of subsidies in India? (2015, 12.5 Marks)
Craze for gold in Indians has led to a surge in import of gold in recent years and put pressure on balance of payments and external value of rupee. In view of this, examine the merits of Gold Monetization Scheme. (2015, 12.5 Marks)
Among several factors for India’s potential growth, savings rate is the most effective Do you agree? What are the other factors available for growth potential? (2017, 10 Marks)
How are principles followed by the NITI Aayog different from those followed by erstwhile Planning Commission in India? (2018, 15 Marks)
How would the recent phenomena of protectionism and currency manipulations in world trade affect macroeconomic stability of India? (2018, 15 Marks)
Enumerate the indirect taxes which have been subsumed in the goods and services tax (GST) in Also, comment on the revenue implications of the GST introduced in India since July 2017. (2019, 10 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 (2019, 10 Marks)
Define potential GDP and explain its What are the factors that have been inhibiting India from realizing its potential GDP? (2020, 10 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? (2020, 15 Marks)
Explain the difference between computing methodology of India’s Gross Domestic Product (GDP) before the year 2015 and after the year 2015. (2021, 10 Marks)
Do you agree that the Indian economy has recently experienced V- shaped recovery? Give reasons in support of your (2021, 15 Marks)
Economic growth in the recent past has been led by increase in labour activity.” Explain this statement. Suggest the growth pattern that will lead to creation of more jobs without compromising labour productivity. (2022, 15 Marks)

Inclusive growth and issues arising from it

Pradhan Mantri Jan Dhan Yojana (PMJDY) is necessary for bringing unbanked to the institutional finance fold. Do you agree with this for financial inclusion of the poor section of the Indian society? Give arguments to justify your (2016, 12.5 Marks)
Comment on the challenges for inclusive growth which include careless and useless manpower in the Indian Suggest measures to be taken for facing these challenges. (2016, 12.5 Marks)
What are the salient features of ‘inclusive growth’? Has India been experiencing such a growth process? Analyse and suggest measures for inclusive growth. (2017, 15 Marks)
It is argued that the strategy of inclusive growth is intended to meet the objectives of inclusiveness and sustainability Comment on this statement. (2019, 15 Marks)
Explain intra-generational and inter-generational issues of equity from the perspective of inclusive growth and sustainable (2020, 10 Marks)
Is inclusive growth possible under market economy? State the significance of financial inclusion in achieving economic growth in (2022, 10 Marks)

Government Budgeting

What were the reasons for the introduction of Fiscal Responsibility and Budget Management (FRBM) Act, 2003? Discuss critically its salient features and their (2013, 10 Marks)
What is the meaning of the term ‘tax expenditure’? Taking housing sector as an example, discuss how it influences the budgetary policies of the government. (2013, 10 Marks)
One of the intended objectives of Union-Budget 2017-18 is to ‘transform, energize and clean India’. Analyze the measures proposed in the Budget 2017-18 to achieve the (2017, 15 Marks)
Comment on the important changes introduced in respect of the Long Term Capital Gains Tax (LTCGT) and Dividend Distribution Tax (DDT) in the Union Budget for 2018-2019. (2018, 10 Marks)
The public expenditure management is a challenge to the Government of India in context of budget making during the post liberalization Clarify it. (2019, 15 Marks)
Distinguish between Capital Budget and Revenue Budget. Explain the components of both these (2021, 10 Marks)

Agriculture: Major crops, Cropping patterns in various parts of the country

What is allelopathy? Discuss its role in major cropping systems of irrigated agriculture. (2016, 12.5 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? (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? (2017, 15 Marks)
How has the emphasis on certain crops brought about changes in cropping patterns in recent past? Elaborate the emphasis on millets production and (2018, 15 Marks)
Assess the role of National Horticulture Mission (NHM) in boosting the production, productivity and income of horticulture How far has it succeeded in increasing the income of farmers? (2018, 15 Marks)
How far is Integrated Farming System (IFS) helpful in sustaining agricultural production (2019, 10 Marks)
What are the major factors responsible for making rice-wheat system a success? In spite of this success how has this system become bane in India? (2020, 15 Marks)
What are the present challenges before crop diversification? How do emerging technologies provide an opportunity for crop diversification? (2021, 15 Marks)
What is Integrated Farming System? How is it helpful to small and marginal farmers in India? (2022, 15 Marks)

Different types of irrigation and irrigation systems

What is water-use efficiency? Describe the role of micro-irrigation in increasing the water-use (2016, 12.5 Marks)
Elaborate the impact of National Watershed Project in increasing agricultural production from water stressed areas. (2019, 10 Marks)
Suggest measures to improve water storage and irrigation system to make its judicious use under depleting scenario. (2020, 15 Marks)
How and to what extent would micro-irrigation help in solving India’s water crisis? (2021, 10 Marks)

Storage, transport and marketing of agricultural produce and issues and related constraints

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 Critically examine. (2014, 12.5 Marks)
What are the main constraints in transport and marketing of agricultural produce in India? (2020, 10 Marks)
What are the main bottlenecks in upstream and downstream process of marketing of agricultural products in India ? (2022, 15 Marks)

E-technology in the aid of farmers

How can the ‘Digital India’ programme help farmers to improve farm productivity and income? What steps has the Government taken in this regard? (2015, 5 Marks)
How is science interwoven deeply with our lives? What are the striking changes in agriculture triggered off by the science-based technologies? (2020, 10 Marks)

Issues related to direct and indirect farm subsidies and MSP

What are the different types of agriculture subsidies given to farmers at the national and at state levels? Critically analyse the agricultural subsidy regime with reference to the distortions created by (2013, 10 Marks)
“In the villages itself no form of credit organization will be suitable except the cooperative ” — 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, 12.5 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, 5 Marks)
What do you mean by Minimum Support Price (MSP)? How will MSP rescue the farmers from the low- income trap? (2018, 10 Marks)

Public Distribution System- objectives, functioning, limitations, revamping; Issues of buffer stocks and food security

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 (2013, 10 Marks)
What are the reformative steps taken by the Government to make food grain distribution system more effective? (2019, 15 Marks)
What are the salient features of the National Food Security Act, 2013? How has the Food Security Bill helped in eliminating hunger and malnutrition in India? (2021, 15 Marks)
What are the major challenges of Public Distribution System (PDS) in India? How can it be made effective and transparent ? (2022, 10 Marks)

Technology missions

India needs to strengthen measures to promote the pink revolution in food industry for ensuring better nutrition and Critically elucidate the statement. (2013, 10 Marks)
Explain various types of revolutions, took place in Agriculture after Independence in India. How these revolutions have helped in poverty alleviation and food security in India? (2017, 10 Marks)
How was India benefited from the contributions of Sir M. Visvesvaraya and Dr. M. S. Swaminathan in the fields of water engineering and agricultural science respectively? (2019, 10 Marks)

Economics of animal-rearing

Livestock rearing has a big potential for providing non-farm employment and income in rural Discuss suggesting suitable measures to promote this sector in India. (2015, 12.5 Marks)

Food Processing & Related Industries: Scope and significance, Location, Upstream and downstream requirements, Supply chain management

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, 5 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? (2017, 10 Marks)
Examine the role of supermarkets in supply chain management of fruits, vegetables, and food 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 (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? (2020, 10 Marks)
Elaborate the scope and significance of the food processing industry in (2022, 10 Marks)

Economic Reforms: Land reforms in India

Establish relationship between land reforms, agriculture productivity and elimination of poverty in the Indian economy. Discuss the difficulties in designing and implementation of agriculture friendly land reforms in (2013, 10 Marks)
The Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013 has come into effect from 1st January, What are the key issues which would get addressed with the Act in place? What implications would it have on industrialization and agriculture in India? (2014, 12.5 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 (2015, 12.5 Marks)
Discuss the role of land reforms in agricultural development Identify the factors that were responsible for the success of land reforms in (2016, 12.5 Marks)
How did land reforms in some parts of the country help to improve the socio-economic conditions of marginal and small farmers? (2021, 10 Marks)

Effects of liberalization on the economy, Changes in industrial policy and their effects on industrial growth

Examine the impact of liberalization on companies owned by Indians. Are they competing with the MNCs satisfactorily? Discuss. (2013, 10 Marks)
Discuss the impact of FDI entry into Multi-trade retail sector on supply chain management in commodity trade pattern of the (2013, 5 Marks)
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 Discuss the reasons. (2013, 5 Marks)
With a consideration towards the strategy of inclusive growth, the new Companies Bill, 2013 has indirectly made CSR a mandatory Discuss the challenges expected in its implementation in right earnest. Also discuss other provisions in the Bill and their implications. (2013, 10 Marks)
Normally countries shift from agriculture to industry and then later to services, but India shifted directly from agriculture to 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, 12.5 Marks)
Foreign Direct Investment (FDI) in the defence 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, 5 Marks)
“Success of ‘Make in India’ programme depends on the success of ‘Skill India’ programme and radical labour reforms.” Discuss with logical arguments. (2015, 12.5 Marks)
There is a clear acknowledgement that Special Economic Zones (SEZs) are a tool of industrial development, manufacturing and exports. Recognising this potential, the whole instrumentality of SEZs require augmentation. Discuss the issues plaguing the success of SEZs with respect to taxation, governing laws and administration. (2015, 12.5 Marks)
How globalization has led to the reduction of employment in the formal sector of the Indian economy? Is increased informalization detrimental to the development of the country? (2016, 5 Marks)
Justify the need for FDI for the development of the Indian Why there is gap between MoUs signed and actual FDIs? Suggest remedial steps to be taken for increasing actual FDIs in India. (2016, 12.5 Marks)
Account for the failure of manufacturing sector in achieving the goal of labour-intensive exports. Suggest measures for more labour-intensive rather than capital-intensive (2017, 10 Marks)
“Industrial growth rate has lagged behind in the overall growth of Gross-Domestic-Product (GDP) in the post-reform period” Give How far the recent changes in Industrial Policy are capable of increasing the industrial growth rate? (2017, 7+8= 15 Marks)

Infra: Energy, Ports, Roads, Airports, Railways etc. and Investment models

Write a note on India’s green energy corridor to alleviate the problem of conventional (2013, 10 Marks)
Adoption of PPP model for infrastructure development of the country has not been free of criticism. Critically discuss pros and cons of the (2013, 10 Marks)
Explain how Private Public Partnership arrangements, in long gestation infrastructure projects, can transfer unsustainable liabilities to the What arrangements need to be put in place to ensure that successive generations’ capacities are not compromised? (2014, 12.5 Marks)
National Urban Transport Policy emphasises on ‘moving people’ instead of ‘moving vehicles’. Discuss critically the success of the various strategies of the Government in this regard. (2014, 12.5 Marks)
To what factors can the recent dramatic fall in equipment costs and tariff of solar energy be attributed? What implications does the trend have for the thermal power producers and the related industry? (2015, 5 Marks)
What are ‘Smart Cities’? Examine their relevance for urban development in Will it increase rural-urban differences? Give arguments for ’Smart Villages’ in the light of PURA and RURBAN Mission. (2016, 12.5 Marks)
Give an account of the current status and the targets to be achieved pertaining to renewable energy sources in the Discuss in brief the importance of National Programme on Light Emitting Diodes (LEDs). (2016, 12.5 Marks)
Examine the development of Airports in India through joint ventures under Public – Private Partnership (PPP) What are the challenges faced by the authorities in this regard. (2017, 10 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)
With growing energy needs should India keep on expanding its nuclear energy programme? Discuss the facts and fears associated with nuclear energy? (2018, 15 Marks)
Explain the meaning of investment in an economy in terms of capital formation. Discuss the factors to be considered while designing a concession agreement between a public entity and a private entity. (2020, 15 Marks)
Describe the benefits of deriving electric energy from sunlight in contrast to the conventional energy generation. What are the initiatives offered by our Government for this purpose? (2020, 15 Marks)
“Investment in infrastructure is essential for more rapid and inclusive economic growth. “Discuss in the light of India’s (2021, 15 Marks)
Do you think India will meet 50 percent of its energy needs from renewable energy by 2030 ? Justify your answer. How will the shift of subsidies from fossil fuels to renewables help achieve the above objective? Explain. (2022, 15 Marks)
Why is Public Private Partnership (PPP) required in infrastructural projects? Examine the role of PPP model in the redevelopment of Railway Stations in (2022, 10 Marks)