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Introduction : Economic survey, 2016-2017 for UPSC IAS Prelims, Mains and Interview : Thinkers IAS

Economic survey, 2016-2017 : Introduction to the course


We are starting a new series on Economic survey, 2016-2017 for UPSC IAS 2017 examination.

It will be an integrated course, which covers issues from both Prelims and Mains point of view.

This service is free for all aspirants. If you are interested in our current affairs analysis course (highly productive for Working professionals, Beginners and those who wish to initiate an integrated preparation, click here to subscribe).

Here are the details of the course,

What is Economic survey?

Flagship annual document of Ministry of Finance

Purpose :

  1. Gives detailed account of the performance of various sectors of the economy,
  2. Overall economic scenario of the country in the past year and provide outline for the year ahead
  3. Forum for analysis, research and recommendations on the Economy
  4. Source of policy ideas

Who prepares Economic survey?

Economic division of Department of Economic Affairs in Finance Ministry

Under the Guidance of Chief Economic Advisor Aravind Subramanian, Approved by Finance Minister

Where it is presented?

Presented every year in Parliament during budget session. Normally, a day before Union Budget.

Is it Binding on the Government to present Economic survey?

No. Nowhere it is mentioned in the constitution,

Here is the Structure of the course : This provides the basic framework for all the updates under Economic survey, 2016-2017 section

Economic survey topics are divided into 6 sections,

  1. Banking, Budget and Monetary policy
  2. Society, Empowerment, Health and Environment
  3. Policies, Programmes and Regulations
  4. Balance of Payment
  5. Infrastructure
  6. Skill and Human Resource Development

Easy to retrieve information and easy to revise

How we proceed?

Integrated approach : Detailed discussion of important issues from both Prelims and Mains point of view

You must know about basic information like, GDP, GNP, NPA, Repo and Reverse repo, Monetary policy, Fiscal policy etc.

Discussions are to the point, as per the requirements of examination. Nothing more, nothing less…

Mode of teaching

Articles supplemented by Video lectures

There are 14 chapters. But, We do not cover the issues chapter wise.

All the information and issues are regrouped into 6 sections as provided below,

  1. Banking, Budget and Monetary policy
  2. Society, Empowerment, Health and Environment
  3. Policies, Programmes and Regulations
  4. Balance of Payment
  5. Infrastructure
  6. Skill and Human Resource Development

What is the use? : Facilitates Issue based discussion like GST, Fiscal reforms, Climate change, Demonetization, skill development etc. It helps in approaching the mains answer writing in a focused manner.

Provides factual information related to prelims

Fodder points for Mains examination

Easy to organize the issues

For your reference, there are 14 chapters, these include,

  1. Economic Outlook and Policy Challenges
  2. The Economic Vision for Precocious, Cleavaged India
  3. Demonetization: To Deify or Demonize?
  4. The Festering Twin Balance Sheet Problem
  5. Fiscal Framework: The World is Changing, Should India Change Too?
  6. Fiscal Rules: Lessons from the States
  7. Clothes and Shoes: Can India Reclaim Low Skill Manufacturing?
  8. Review of Economic Developments
  9. Universal Basic Income: A Conversation With and Within the Mahatma
  10. Income, Health and Fertility: Convergence Puzzles
  11. One Economic India: For Goods and in the Eyes of the Constitution
  12. India on the Move and Churning: New Evidence
  13. The ‘Other Indias’: Two Analytical Narratives (Redistributive and Natural
    Resources) on States’ Development
  14. From competitive Federalism to Competitive Sub-Federalism : Cities as Dynamos

 

How useful is Economic survey?

Useful for all stages of examination : Prelims, Mains and Interview

Direct questions in Prelims (In Prelims, 2016 : Sovereign gold bond scheme and UDAY etc.)

Ready answers (Almost) for mains examination.

For instance, in Mains 2016, observe the sample questions below,

 

The nature of economic growth in India in described as jobless growth. Do you agree with this view? Give arguments in favour of your answer.

 

In what way could replacement of price subsidy with Direct Benefit Transfer (DBT) change the scenario of subsidies in India? Discuss. (Discussed in detail)

 

Questions on Good governance, E governance, Fiscal reforms, Policy issues can be easily answered.

Useful for interview preparation

We hope this series will be useful for your UPSC IAS preparation. Happy learning!!!!!

  • KARTHIK NAIDU

    SIR,When are you starting economic survey?

  • KARTHIK NAIDU

    I Have enrolled to current affairs program-2017, WELL Excellant teaching,nice analysis with clear cut conceptual background.
    i request you to upload january 3rd and 4th week videos on WCA.
    THANK YOU

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