Economics:

Inthispart,questionswillbeoneconomicandtradeissuessuchasforeigntrade,foreign
investment;economicanddiplomacyissuesrelatingtooil,gasandenergyflows;theroleand
functionsofI.M.F.,WorldBank,W.T.O.,WIPOetc.whichinfluenceIndiaseconomicinteractionwith
othercountriesandinternationalinstitutions.
TheIndianeconomyandissuesrelatingtoplanning,mobilizationofresources,growth,
developmentandemployment.
PresentSyllabus:

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

development and
employment.
Inclusive growth and issues arising from it.
Government Budgeting.
Issues related to direct and indirect farm subsidies and minimum support prices; Public
Distribution
System- objectives, functioning, limitations, revamping; issues of buffer stocks and food
security;
Technology missions; economics of animal-rearing.
Food processing and related industries in India- scope and significance, location, upstream
and
downstream requirements, supply chain management.
Land reforms in India.
Effects of liberalization on the economy, changes in industrial policy and their effects on
industrial
growth.
Infrastructure: Energy, Ports, Roads, Airports, Railways etc.
Investment models.

1987:

What is the need for Coal Conservation? What are the major
components of Indias Coal conservation policy?(150 words)
30wordseach

(a) What is Zero-base budgeting?

(b) What are the likely advantages of the recent Government

policy of Broad-banding?
(c) Despite an increase in the pay-packet, the purchasing power
of the people has not really gone up. How can this happen?
(d) The Economic offenders often thrive in a parallel economy.
Is it true or false? Explain your view.
(e) What are the limitations of mechanized farming in the Indian
context?
(f) Recall three specific incentives given our government to
attract industries to the backwards areas. Name two such areas
and their location.

Recentaly oil and gas have been discovered at a number of

places in the Godavari -Krishna delta region. Name three
locations where these deposits are found.(30 wordes)
Discuss the contribution of public sector enterprises to the
economic development of India. Are these enterprises
generating enough resources for further investment in the
economy? (About 250 words)
ExaminethedebtburdenoftheGovernmentonIndia.Isthecountryheadingtowardsadebt
trap?(150words)
DiscusstheprogressofIndianeconomyduringFortyyearsofFreedom.Whatstructuralchangesdo
youthink,havetakenplaceintheeconomy?(150words)
WhatareAdministeredpricesandwhattheirroleis?Examine

their impact on the

general price level.(150 words)

The Government of India has recently set up a Department
of Food Processing. What are its functions?(150 words)
What are the aims of the New Technology Policy? What
steps are being taken to improve the standards of technical
education?(150)
25words

Name the direct and indirect taxes levied by the

Government of India. Which of these yields the highest amount
of revenue?
(b) What is Minimum Wages? Is there any such provision in
India?

(c) What are lead banks?

(d) What is the HBJ pipe line? What will it carry, from where to
where, and for what purpose?
(e) What is shifting cultivation, and where is it carried on?

What are the basic objectives of agricultural price policy of

the Government of India & how is it implemented? (About 250
words)

India is planning to provide for the generation and

distribution of 38,000 MW of electric power in the Eighth Plan.
How are these objectives to be achieved? What are the
constraints that are likely to be met with? (About 250 words)
150 words
What are the main components of the no-plan expenditure
of the Government of India? Discuss the recent trends in the
growth of this expenditure.
(b) Despite having high saving and investment rates. India is
Experience a low growth rate. Why is it so?
What is meant by a high cost economy? Has India
developed into a high cost economy and if so, how?
Examine the production and supply of edible oil in India.
What are its main source crops and where are they grown? Do
we have to import edible oil?(150)
Describe the important new techniques which are being
introduced in India for crop improvement.(150)
What are the non-conventional sources of energy relevant in
the Indian Context? Comment on the status of the technologies
available for their utilization.(150)
Water-conservation has assumed and urgency, partic ularly
in drought prone areas. What are the methods available for
controlling water evaporation from large surface (e.g. ponds
and tanks) and improving the water -holding capacity of the
soil?(150)
1989:-

25 words
(a) What is NABARD and what is its main role?
(b) What are mutual funds? Do we have such funds in India?
(c) What are economic offences? Name two such offences and
the laws enacted in India to deal with them.
Name the minerals used in generating nuclear energy and
the places where they are found in India.(25 )
1990:150 words)
What is the economic rationale behind the establishment of growth
centres?Explain briefly the criteria for selecting three growth
centres?(150 words)
(b) State and explain briefly the economic implications of the Right to
work?
(c) Discuss the factors that have led to the recent increase in
the general price level and the measures taken by the
Government to combat it.
(d) What measures have been taken under the Five Year Plans
to increase employment opportunities in rural areas?
(e) Explain the concept of National Water Grid and its
objectives.
(f) Comment on the detrimental effects of canal irrigation?

(c) Aqua culture (inland fish farming) is considered to have an

important role in increasing the food supply and generate
employment. What steps are being taken by the Government to
encourage aqua culture?(150)
Write an account of BVO. Give reasons against its use.(150 words)

1991:(a) What is Exchange Risk Administration Scheme?(25)

150 words
(b) Analyze the main defects of Indian Trade Union Movement.

(c) Bring out the main features of India's Trade policy.

(d) What are the factors that ensure the success of the Public
Distribution system?(150)

25 words
(a) What is Non-Plan Expenditure?
(b) What is Statutory liquidity Requirement of Commercial
banks?
(d) What is ICICI?
(f) If the context of recent institutional developments in our
capital markets, what do the following abbreviations stand for:
(a) (i) CRISIL (ii) SEBI (iii) SHCI

1992:150 words
(a) What is Partial Convertibility of rupee? What are its basic
objectives? How is it going benefit the Indian economy?
(b) Discuss the main features of India's Eight Five-Year Plan
with special reference to the agricultural sector.
(c) What are the main sources of short -term and long-term
finance for Indian industries?

1993:25 words
(a) Distinguish between Gross Domestic Product (GDP) and
Gross National Product (GNP)
(b) What are 'Footloose Industries'?
(c) What is fiscal drag? What is its effect?
(d) What is Gini coefficient?
(e) Give the full names of:
(i) FAO (ii) FOB (iii) GATT
(f) Describe the main objective of DPAP.
it is claimed that the price situation in India improved

considerably in 1992-93 with a gradual decline in the annual

rate of inflation in the course of the year. What are the factors
that moderated the inflationary pressures?(150)
In a developing country like ours what according to you,
should be the basis of taxation-income or consumption? Spell
out your arguments clearly.(150)

1994:25 words
(a) What does SDR stand for? how are the countries benefited
by it?
(b) What do you mean by Government Buffer Stock Operations?
(c) What is Opportunity Cost?
(d) What is ICOR? What does a high ICOR indicate?
1995:150 words
(a) What was the rational of the Mahalanobis Strategy of
economic growth?(150)
(b) Indiacate briefly the tax reforms that have been introduced
in India after the coming in of the New Economic Policy.
(c) Discuss the desirability of removing all control in India on
the import and export of agricultural commodities.
(d) What is innovation? What kind of economic compulsions in
a country like India, you think, could really stimulate
innovations?
25 words
(a) What is meant by equity in taxation?
(b) Why should fiscal deficit in India be rising again?

250 words
(a) In what ways do land reforms help agricultural growth?

Briefly state the aim of land reforms as envisaged in the Eigth

Five Year Plan. (About 250 words)
(b) Do you agree with the view that, in a country like India, a
tax? Argue the case in the light of Raja Chelliah Tax Reform
Committee Report. (About 250 words)
(a) Does reduction in f iscal deficit necessarily assure reduction
in inflation?(150)

150 words
(c) Do you think that income tax reduces economic incentives?
Give your reasons.
(d) What has been the rationale for deregulating commercial
bank's lending rates as a policy stategy?

1996:Explain the factors responsible for the decile in the value of

Indian Rupee vis-a0vis U.S. Dollar during the Financial year
1995-96. Enumerate the Corrective measures undertaken by
the Reserve Bank of India in this regard. (About 250 words)

(b) What are Intellectual Property Rights? Why are Indian

scientists concerned about the new patent regimes? (About 250
words)
150 words
(a) What measures do you suggest to raise the volume of Public
Savings in our country? Briefly state the importance of such
saving for the contemporary economic scene.
(b) Briefly comment on the purpose and type of changes made
in our tax structure in the context of liberalisation and structural
reforms during the first half of the 1990s.
(c) Discuss briefly the main recommendations of the Tenth
finance Commission.

25 words

(a) What is a lorentz curve?

(b) How do you distiguish between specific and ad valorem
duties?
(c) What is an MOU? What does it mean?
(d) Differentiate between Trade and Balance of Payments.
(e) Where are India's nuclear power plants located?
(f) What are Bailey's beads?

1997:(a) Discuss the steps taken by the government in recent years to

control inflation.(150)
b)Examine the important changes in Indias Industrial Policy
since the year 1991.(150)
c)Discuss the advantages of Alternative scheme of Devolution
suggested by tenth finance commission of India.9150)
Why was HODVAT Scheme introduced in the year 1986?(150)

(e) What are the main objective of Ninth Five Year Plan?(25)
(f) (c) How has the Census (1991) defined the Urban Areas?925)
1998:about 150
words) 20+20
(a) What are the main reasons for industr ial sickness in India?
How can it be overcome?
b)Infrastructure bottlenecks continue to stifle the economic growth in
India.Comment.
(c) Comment on the view that Monetary Policy in India is used
more as a stabilisation device rather than as a develo pment
tool.
(d) What has been the role of NRIs in the economic
development of India in the recent past?

(c) Describe the changes that have taken place in the direction
of international trade of India since independence.(150)

25 words
(a) What is meant by Mutual Fund?
(b) Explain per capita income as a measure of economic
growth.
c)What is meant by Quality of life?
(f) What is the difference between Gross National Product and
Net National Product?
1999:(a) What is 'new' in India's New Industrial Policy of 1991
?(250 words)
(b) What is Multilateral Agreement on Investment? How will it
affect the economy of a developing country like India ? 40
(About 250 words)
(a) Discuss the role of modern technological inputs on
agricultural development in India. How would it be helpful for
food security during 21st century? 40
(About 250 words)
150 words
about 150 words):
(a) What does buy-back of shares mean ?
(b) When and why was SEBI established?
(c) What is SIDBI ? What are its main functions?
(d) What is Tobin tax ? What are its main features?
25 words
(d) What is Cash Reserve Ratio?
(e) How is revenue deficit different from budgetary deficit?
(f) What is Plan Holiday?
Examine the role of NRIs in the liberalisation process of
India.(25)
150 words
(b) What is (Revised) Targeted Public Distribution System ?
What are its main features ?
(c) Discuss the economic effects of Black money (Parallel
economy) in Indian economy.
What do you mean by 'Parallel Economy' ?(25 words)

25 words
(g) What is ICOR (Incremental Capital Output Ratio) ?
(h) What are the main objectives of NABARD ?
(i) What do you know about 11th Finance Commission ?
(j) What do you mean by revenue deficit in the Central
Government's Budget ?
(k) How has the Census (1991) defined the Urban Areas ?
(l) What are the objectives of New Economic Policy of the
Government of India ?
(m) Write a note on Rao-Manmohan model of development.
Scheme ?
(a) Define Globalisation and differentiate it with
Internationalism.(150)

150 words
about 150 words): 152=30
(a) Liberalization of the Indian Economy since 1991 has led to
excessive consumer ism and over-production of white goods.
Elucidate.
(b) What are the hurdles faced by the Finance Ministers of
Indian in keeping the fiscal deficit below 3-4 percent of the
GDP? Suggest steps to lower the fiscal deficit.
(c) 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?
2001:20 words
(a) What is CRISIL? What does it do?
(b) What do you understand by Current-Account Convertibility of
Rupee?
(c) What do you mean by providing industry status to Agriculture in
India?
(e)Expand the term nasdaq?
(f) Differentiate between Galloping inflation and run-way inflation.
(g)What is meant by couple protection ratio?

(h)Distinguish between human development index and genderrelated development index.

(i) What is green GNP?
(j) Distinguish between a hard currency and a soft currency.
(k)Explain rolling plan
(l) Illustrate Lorenz curve.
(m) What is misery index
(n)What is meant bymost favoured nation policy
(b) Indian economy presents a paradox of high savings rate
with low- income and high saving rate with low growth rate.
Analyse.(250)
2002:25 words:a) What was India millennium deposit scheme?
b) Name the nodal agency to deal with issue relation to Indians
abroad and explain its main task.
c) What is the distinction between NRI and People of India Origin
250 words
(a) Outline the main targets f ixed in the National Population
policy 2000. What have been the follow up measures to this
policy?
(b) The main thrust of the EXIM Policy 2002-07 is on creating a
framework for enhancing Indias export capability. In the light
of this statement outline the salient features of EXIM Policy 2002-07.

Q With what objectives was Essential Commodities Act 1955

amended last year?
25 words
(a) What is the peak rate of Custom duty? What are its
objectives in India?
(b) Define fiscal deficit.
(c) Explain the provision of OGL.
d) What is the role of SEBI

e)Explain RBIs Automatic Route in FDIs.

f) The union budget 2002-03 recommended some servi ces to
be taxed. Name any 4 of these services.
(g) What is dumping? What is its objective?
(h) What do you understand by Capital account Convertibility
of Rupee?
(n) Distinguish between ad-valorem and specific duties.
(o) Define zero-based budget.

2003;c) Point out the measures undertaken towards flexibility in

capital account transactions during the recent past.(150)
about 20 words) 2X15=30
a) What is Plan Holiday?
b) Why did India have a surplus in current account balance in
2001-02 after a gap of 24 years?
c) What is Value Added Tax?
d) What is the main objective of the Competition Act, 2002?
e) Name the two agencies that have helped to promote Foreign
Direct Investment in India.
f) What is the main thrust of the Fiscal Responsibility and
Budget Management Bill?
g) Highlight the main features of the policy relating to buy -back
of shares.
2004:20 words
(a) Categorize the People of Indian Origin (PIO).
(b) Point out the difference beteween the Jewish Diaspora and
the Indian Diaspora.
(c) What are the references made to the NRI in the Union
Budget July 2004?
(a) State the comprehensive structural reforms undertaken to
improve the Indian economy since 1991.(250)
150 words
(a) Describe the recommendations of Narasimham Committee
regarding the banking sector in India.

(b) Examine the effect of economic development on

environmental degradation in India.
(c) What ails India's road transport economy? Suggest
measures of remedy.
(c) What is cash Reserve Ratio?(25)
(d) What does ''priority sector lending'' mean?
(e) What is Minimum Alternatives Tax (MAT)?
(a) (f) What is Business Process Outsourcing (BPO)?
Explain the objectives of plant Varieties Right Act, 2002.(20
words)
What are the objectives of the Twelfth Finance
Commission?(20)
What is the main objective of Security and Exchange Board
of India (SEBI)?(20)
What is deficit financing?(20)

2005:20 words
(a) Full convertibility
(b) Physical Quality life Index
What is Green GDP?(25)
What were the terms of reference of the Abid Hussain
Committee?(25)
2006;(in about 20 words each): 215=30
(a) What is Phillips curve ?
(b) What is Hundi ?
(c) What is twin defict ?
(d) What is the main difference between free trade area and
common market ?
(e) What is forward currency market ?
(f) What is offshore currency market ?
(g) What is Laffer curve ?
(h) What are Eurobonds ?
(i) What is disguised unemployment ?

(j) What are nifty and the nifty junior ?

(k) What is Agri-Trade ?
(l) What is CEMA bloc ?
(m) What is rolling settlement ?
(n) What is the difference between Green Box subsidies and
Blue Box subsidies ?
o)What are non-factor service in Indias balance of payment?

2008:250 words
(a)Discuss Indias stand on agricultural issue in WTOs
Ministerial Conferences since Doha Round.
(b) Assess the performance of India in attracting Foreign Direct
Investment (FDI).
about 150 words): 215=30
(a) Assistance to the States for Development of Export
Infrastructure and other Activities (ASIDE).
(b) Convertibility of Indian Rupee.
(c) India on Global Competitiveness Index-2007
20 words):
52=10
(a) Special Drawing Rights (SDRs)
(b) NAMA
(c) Non-tariff trade barriers
(d) Current Account Balance
(e) Free Trade Area
2009:-200 words
a. "Foreign investment is far from being critical to
India's economic growth."
b. ''The lesson of the current global financial crisis is
that India should halt and may be even reverse
financial liberlisation."
2010:150 words
d. Bring out the FDI & employment implications of china
being a manufacturing hub & India a service hub?
e. Have the Uruguay round negotiations & the TRIPS
agreement helped in resolving trade conflicts arising out of

variations in different nations IPR regions? Also list the steps

taken by India to conform to TRIPS.
2011:250 words
a)The causes and implications of the Jasmine revolution and its
spread are as much economic in nature as they are political.
Criticall evaluate.
b)In the context of the Euro-zone debt crisis, examine the proposed
six-pack solution. Do you think that this has a better chance of
success than the earlier Stability and Growth Pact?