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Topic -Wise Free Questions for RBI Grade B Exam Phase 2- Subject Economic and
Social Issues

Measurement of growth: National Income and per capita income

1. Define National Income and explain its significance in economic analysis. How does it
help in understanding economic growth?
2. Discuss the various methods used for calculating National Income. What are the
strengths and weaknesses of each method?
3. Explain the concept of Gross Domestic Product (GDP) and how it differs from Gross
National Product (GNP). What does each measure tell us about the economy?
4. Describe the adjustments that must be made to GDP to calculate Net National Product
(NNP). Why are these adjustments necessary?
5. How is per capita income calculated, and why is it an important indicator of economic
development?
6. Compare and contrast Real GDP and Nominal GDP. Which provides a better measure
of economic performance and why?
7. Examine the limitations of using GDP as a measure of economic welfare. What
alternative measures might provide a more comprehensive view of economic well-
being?
8. Discuss the impact of inflation and population growth on the measurement of national
income and per capita income. How can these factors distort economic analysis?
9. Explain the role of Purchasing Power Parity (PPP) in comparing economic indicators
like GDP and per capita income across different countries.
10. How do changes in technology and productivity influence the measurement of national
income? What challenges do these changes pose for traditional economic measures?
11. What is National Income and why is it a crucial economic indicator?
a. Briefly explain how National Income is calculated.
12. Describe the difference between Gross Domestic Product (GDP) and Gross National
Product (GNP).
a. How do these measures provide different perspectives on economic activity?
13. How is per capita income calculated and what does it indicate about an economy?
a. Discuss the limitations of per capita income as an indicator of economic well-
being.

Disclaimer

These questions are developed for helping students preparing for RBI Grade B Examination. In no way, it can be
presented as an official version / questions from RBI. This is for your practice.
 2

14. Explain the concept of Real GDP versus Nominal GDP.

a. Why is Real GDP considered a better measure of economic growth?
15. What are the implications of changes in per capita income on the standard of living?
a. How might per capita income misrepresent actual living conditions in a country?

Economic Survey and Union Budget

1. What are the key fiscal targets set in the latest Union Budget, and how do they
compare to the previous year's targets?
2. Describe one major recommendation from the latest Economic Survey that
aims to boost economic growth in India. How does the Union Budget address
this recommendation?
3. The Union Budget often allocates funds for various sectors. Identify one sector
that received significant attention in this year’s budget and discuss the potential
impact of this allocation on the sector’s development.
4. Analyze the changes proposed in the Union Budget regarding taxation. How
are these changes expected to affect the middle class and small businesses?
5. Discuss a specific initiative from the Union Budget that focuses on sustainability
and environmental protection. What goals does this initiative aim to achieve,
and what measures are proposed to reach these goals?
6. Discuss the key economic projections made in the most recent Economic
Survey. How do these projections influence the policy measures outlined in the
Union Budget?
7. Evaluate the major fiscal measures introduced in the latest Union Budget. What
are their expected impacts on economic growth and fiscal stability?
8. Examine the role of the Economic Survey in identifying economic challenges in
India. How effectively does the Union Budget address these challenges based
on the latest survey?
9. Analyze the sectoral allocations in the recent Union Budget. Which sectors
received the highest priority, and what does this imply about the government's
policy focus?

Disclaimer

These questions are developed for helping students preparing for RBI Grade B Examination. In no way, it can be
presented as an official version / questions from RBI. This is for your practice.
 3

10. Discuss the government's approach to debt management as outlined in the

Union Budget. How does it plan to balance growth initiatives with fiscal
prudence?
11. What are the major tax reforms proposed in the latest Union Budget? Evaluate
their potential impact on individual taxpayers and businesses.
12. Examine the provisions for social welfare in the Union Budget. How do these
provisions aim to address the vulnerabilities highlighted in the Economic
Survey?
13. Analyze the strategies for infrastructure development presented in the Union
Budget. How are these aligned with the growth forecasts and
recommendations in the Economic Survey?
14. Discuss the emphasis on digital initiatives in the Union Budget. How do these
initiatives relate to the technological advancements and digital economy
insights provided in the Economic Survey?
15. Evaluate the environmental and sustainable development measures proposed
in the Union Budget. How do these measures respond to the environmental
concerns raised in the Economic Survey?

Monetary and Fiscal Policy

1. How have the objectives of India's monetary policy evolved since the economic
reforms of 1991, and what has been the role of the Reserve Bank of India in achieving
these objectives?
2. Discuss the major fiscal policy changes implemented since 1991. How have these
changes affected India's fiscal deficit and overall economic stability?
3. Examine the impact of monetary policy tools such as repo rates and reverse repo rates
on inflation and economic growth in India post-1991 reforms.
4. Describe the evolution of India's tax system as part of fiscal policy reforms since 1991.
What have been the major reforms, and how have they impacted economic growth?
5. Analyze the relationship between India’s monetary policy and its fiscal policy since
1991. How have coordination and conflicts between these policies influenced
economic outcomes?

Disclaimer

These questions are developed for helping students preparing for RBI Grade B Examination. In no way, it can be
presented as an official version / questions from RBI. This is for your practice.
 4

6. Explain the primary objectives of India's monetary policy. How has the Reserve Bank
of India (RBI) adjusted its policy in response to the COVID-19 pandemic?
7. Discuss the role of fiscal policy in stabilizing the economy during economic downturns.
Provide examples from recent Indian budgets to illustrate your points.
8. Analyze the effectiveness of quantitative easing as a monetary tool in developed
economies. Can similar strategies be effective in India? Why or why not?
9. Evaluate the impact of recent changes in direct and indirect tax structures on the Indian
economy. How have these changes affected consumer behavior and business
investments?
10. What is the significance of the Fiscal Responsibility and Budget Management (FRBM)
Act for India's economic stability? Discuss its main provisions and their impact.
11. Discuss the challenges the RBI faces in controlling inflation while also promoting
growth. How does the dual mandate of inflation targeting and growth promotion
influence monetary policy decisions?
12. Examine how changes in the repo rate by the RBI influence the Indian banking sector
and the overall economy. Provide recent examples to support your discussion.
13. Analyze the role of government spending in stimulating economic growth in India. What
sectors should be prioritized for spending to maximize economic recovery post-
pandemic?
14. Discuss the concept of "crowding out" in fiscal policy. How can heavy government
borrowing negatively impact private investment in the Indian context?
15. Evaluate the role of monetary policy in managing exchange rate volatility in India. How
effective are these interventions, and what are the potential side effects?

Poverty Alleviation and Employment Generation in India

1. Discuss the main objectives of the Mahatma Gandhi National Rural Employment
Guarantee Act (MGNREGA) in poverty alleviation and employment generation. How
effective has this program been in achieving its goals?
2. Explain the role of the Self-Employed Women's Association (SEWA) in generating
employment and reducing poverty among women in India. What strategies have they
employed?

Disclaimer

These questions are developed for helping students preparing for RBI Grade B Examination. In no way, it can be
presented as an official version / questions from RBI. This is for your practice.
 5

3. Analyze the impact of the Pradhan Mantri Mudra Yojana (PMMY) on small and micro
enterprises. How has this scheme contributed to job creation and poverty reduction?
4. What are the major challenges facing employment generation schemes in India?
Suggest potential improvements to these schemes based on recent data.
5. Discuss how skill development programs can be integrated with poverty alleviation
initiatives to enhance employment opportunities in rural areas.
6. Evaluate the role of technology and digital initiatives in fostering new employment
opportunities as part of poverty alleviation strategies. Provide examples of successful
initiatives.
7. Examine the relationship between agricultural productivity and poverty alleviation in
India. How can increasing agricultural productivity contribute to job creation?
8. What role does infrastructure development play in employment generation and poverty
reduction? Cite specific projects and their impacts.
9. Assess the effectiveness of the urban-based poverty alleviation programs. How do
these programs address the unique challenges of urban poverty?
10. Discuss the implications of the COVID-19 pandemic on employment and poverty in
India. What short-term and long-term strategies should be adopted to mitigate these
effects?

Sustainable Development and Environmental issues

1. Discuss the main goals of the Paris Agreement and evaluate India's progress towards
achieving its Nationally Determined Contributions (NDCs). What are the challenges
and opportunities?
2. Analyze the impact of the United Nations Sustainable Development Goals (SDGs) on
India's policy framework. Which SDGs have seen significant progress, and where does
India lag behind?
3. Evaluate the effectiveness of the Jal Jeevan Mission launched by the Indian
government in addressing water scarcity and promoting sustainable water resource
management. What improvements could be made?
4. How does air pollution in major Indian cities like Delhi affect public health, and what
measures have been taken to mitigate this issue? Assess the long-term sustainability
of these measures.

Disclaimer

These questions are developed for helping students preparing for RBI Grade B Examination. In no way, it can be
presented as an official version / questions from RBI. This is for your practice.
 6

5. Discuss the role of renewable energy sources in achieving sustainable development

in India. What are the latest trends in solar and wind energy investment?
6. Examine the challenges and successes of the Swachh Bharat Mission in terms of
waste management and sanitation. How has this initiative contributed to environmental
sustainability?
7. What are the economic and environmental implications of India's commitment to
eliminating single-use plastics? Discuss the strategies that could enhance the
effectiveness of this policy.
8. Analyze the role of green technology and innovation in promoting environmental
sustainability in India. Provide examples of successful green technologies or startups.
9. Discuss the implications of the recent global summits on climate change for India. How
should India adjust its environmental policies to align with international expectations
and commitments?
10. Evaluate the conservation efforts for endangered species in India, such as the Project
Tiger and Project Elephant. What are the successes, and what areas require more
focus?

Indian Money and Financial Markets: Linkages with the economy

1. Describe the structure of the Indian financial market. How do its various components
such as money markets, capital markets, forex markets, and derivatives markets
interact with each other?
2. Examine the role of the Reserve Bank of India (RBI) in regulating the money market.
How does RBI's policy affect liquidity and interest rates in the economy?
3. Discuss the impact of foreign institutional investors (FIIs) on Indian financial markets.
How do their investment patterns influence market volatility and economic policy?
4. Analyze the role of the stock market in economic development. How does market
capitalization relate to economic growth in India?
5. What is the significance of government securities (G-Secs) in the Indian financial
market? Discuss their impact on fiscal policy and interest rate determination.
6. Evaluate the effects of demonetization on the Indian money market and the broader
economy. What were the short-term and long-term impacts on liquidity and digital
transactions?

Disclaimer

These questions are developed for helping students preparing for RBI Grade B Examination. In no way, it can be
presented as an official version / questions from RBI. This is for your practice.
 7

7. Discuss the challenges and opportunities presented by the growth of digital payment
systems in India. How have these systems affected the traditional banking sector?
8. Examine the linkage between the Non-Banking Financial Companies (NBFCs) and the
Indian economy. What role do NBFCs play in financial inclusion?
9. Analyze the trends in the bond market in India and their implications for economic
policy and investment. How do interest rate movements affect bond prices and yields?
10. Discuss the impact of recent regulatory changes in the financial sector, such as those
affecting banking, insurance, and pension funds. How do these changes aim to
stabilize the financial market and promote economic growth?
11. Role of the Reserve Bank of India in Financial Markets:
a. What are the primary functions of the RBI in regulating money markets?
b. How does RBI’s open market operations influence the liquidity in the financial
system?
12. Impact of Global Financial Trends on Indian Markets:
a. How do global interest rate changes affect the Indian bond market?
b. Discuss the influence of global economic recessions on the Indian stock
market.
13. Development of the Indian Bond Market:
a. What steps have been taken to develop the corporate bond market in India?
b. How does the development of the bond market support economic growth?
14. Interlinkages between Commercial Banks and the Economy:
a. How do commercial banks contribute to economic development in India?
b. What role do banks play in the transmission of monetary policy?
15. Technological Advancements in Financial Markets:
a. Discuss the impact of fintech on traditional banking services in India.
b. What are the potential risks and benefits of increased technological integration
in financial markets?

Role of Indian banks and Reserve Bank in the development process

1. Examine the role of the RBI as the central bank in fostering economic development.
How does its regulatory framework support this process?
a. Discuss the RBI’s monetary policy tools and their impact on inflation and
growth.

Disclaimer

These questions are developed for helping students preparing for RBI Grade B Examination. In no way, it can be
presented as an official version / questions from RBI. This is for your practice.
 8

b. Evaluate the effectiveness of the RBI’s financial inclusion policies.

2. Analyze the role of commercial banks in supporting India's economic development.
a. How do lending practices of commercial banks affect small and medium
enterprises (SMEs)?
b. Discuss the impact of bank loans on rural development in India.
3. Discuss the contribution of the banking sector to infrastructure development in India.
a. What role do banks play in financing large infrastructure projects?
b. How does this support overall economic growth?
4. Evaluate the impact of digital banking on financial services in India.
a. How has digital banking improved accessibility to financial services?
b. Discuss the challenges faced by banks in implementing digital transformation.
5. Examine the RBI’s role in managing the country's foreign exchange reserves.
a. How do foreign exchange reserves contribute to economic stability?
b. What strategies does the RBI use to manage these reserves effectively?
6. Discuss the importance of the banking sector reforms initiated by the RBI.
a. What were the key reforms implemented in the last two decades?
b. How have these reforms impacted the stability and efficiency of banks?
7. Analyze the role of Indian banks in promoting sustainable development.
a. What initiatives have banks taken to support green financing?
b. How do these efforts align with global environmental goals?
8. Evaluate the role of Non-Performing Assets (NPAs) management in the banking
sector.
a. How do NPAs affect the health of banks and the broader economy?
b. Discuss the measures taken by the RBI to address the NPA problem.
9. Discuss the impact of the Basel norms on Indian banks.
a. What are the Basel norms and why are they important?
b. How have these norms affected the risk management practices of Indian
banks?
10. Examine the role of the RBI in ensuring consumer protection in the banking sector.
a. What mechanisms has the RBI established for consumer protection?
b. Evaluate the effectiveness of these mechanisms in resolving customer
grievances.

Disclaimer

These questions are developed for helping students preparing for RBI Grade B Examination. In no way, it can be
presented as an official version / questions from RBI. This is for your practice.
 9

Public Finance

1. Explain the structure of public finance in India.

a. How is the budget formulated at the central and state levels?
b. Discuss the role of the Finance Commission in the distribution of financial
resources.
2. Analyze the impact of Goods and Services Tax (GST) on Indian public finance.
a. What were the primary objectives of implementing GST?
b. How has GST affected revenue generation and economic integration across
states?
3. Discuss the challenges of fiscal deficit in India.
a. What are the causes of fiscal deficits in India?
b. Evaluate the government's strategies to manage and reduce fiscal deficits.
Political Economy
4. Examine the influence of politics on economic reforms in India.
a. How have different political regimes shaped economic policy?
b. Discuss specific economic reforms that were influenced by political changes.
5. Analyze the role of political stability in economic growth.
a. How does political stability affect investor confidence and economic decisions?
b. Provide examples where political instability has impacted economic growth in
India.
6. Discuss the economic implications of regional parties in Indian politics.
a. How do regional parties influence economic policy at the state level?
b. What are the implications of regional political agendas on national economic
planning?
Industrial Developments
7. Evaluate the impact of the Make in India initiative on the industrial sector.
a. What has been the progress of this initiative since its inception?
b. How has it influenced foreign investment and manufacturing growth?
8. Discuss the challenges facing the Indian manufacturing sector.
a. What are the main hurdles in scaling up manufacturing in India?
b. How is the government addressing these challenges?
9. Analyze the role of Small and Medium Enterprises (SMEs) in industrial development.
a. What is the contribution of SMEs to India's industrial output?

Disclaimer

These questions are developed for helping students preparing for RBI Grade B Examination. In no way, it can be
presented as an official version / questions from RBI. This is for your practice.
 10

b. Discuss the challenges SMEs face and the support they receive from the
government.
10. Examine the future prospects of the Indian industrial sector in the global economy.
a. What are the key areas of growth for Indian industry in the global market?
b. Discuss any recent policy changes aimed at enhancing India's industrial
competitiveness internationally.

Indian Agriculture

1. Discuss the major challenges faced by the Indian agriculture sector today.
a. How do issues like irrigation, seed quality, and land holdings affect
productivity?
b. What measures has the government introduced to address these challenges?
2. Analyze the impact of agricultural policies on farmer income and agricultural growth.
a. What are the key features of recent farm bills and their implications?
b. How do subsidies, minimum support prices, and crop insurance schemes
contribute to farm income?
3. Examine the role of technology in transforming Indian agriculture.
a. How are modern technologies like AI and IoT being integrated into farming
practices?
b. Discuss the impact of these technologies on productivity and sustainability.
4. Evaluate the importance of sustainable agricultural practices in India.
a. What are the benefits of adopting practices like organic farming and crop
rotation?
b. How is the government promoting sustainable agriculture?
5. Discuss the export potential of Indian agriculture.
a. What are India's major agricultural exports?
b. How can India enhance its agricultural export capabilities?
Services Sector in India
6. Analyze the growth of the IT and ITES sector in India and its impact on the economy.
a. How has the IT sector contributed to India's GDP?
b. What are the challenges facing this sector as it evolves?

Disclaimer

These questions are developed for helping students preparing for RBI Grade B Examination. In no way, it can be
presented as an official version / questions from RBI. This is for your practice.
 11

7. Discuss the role of the financial services industry in promoting economic growth.
a. How do banks, non-banking financial companies (NBFCs), and insurance
companies support the broader economy?
b. Evaluate the impact of recent regulatory changes on the financial services
sector.
8. Examine the challenges and opportunities in the healthcare services sector in India.
a. What are the main barriers to accessing quality healthcare?
b. How can India leverage its healthcare sector for global competitiveness?
9. Evaluate the contribution of the tourism and hospitality industry to the Indian economy.
a. What are the strengths and weaknesses of this sector?
b. Discuss the impact of the pandemic and the road to recovery for tourism and
hospitality.
10. Analyze the potential of the education and training sector as a service export.
a. How significant is India's education sector in attracting international students?
b. What steps can be taken to enhance India's appeal as a global education hub?

Opening Up of the Indian Economy

1. Discuss the main reforms introduced during the economic liberalization of 1991 in
India.
a. What were the key sectors affected by these reforms?
b. How have these reforms impacted the Indian economy over the last three
decades?
2. Analyze the impact of liberalization on the Indian labor market.
a. How has the opening up of the economy affected employment patterns?
b. What are the challenges and opportunities created by these changes?
3. Evaluate the role of foreign direct investment (FDI) in India post-liberalization.
a. How has FDI influenced economic growth and development?
b. Discuss the sectors that have benefited the most from FDI inflows.

Balance of Payments

4. Explain the components of India's Balance of Payments.

Disclaimer

These questions are developed for helping students preparing for RBI Grade B Examination. In no way, it can be
presented as an official version / questions from RBI. This is for your practice.
 12

a. How do the current account and capital account contribute to the overall
balance?
b. Analyze the trends in India’s Balance of Payments over the last decade.
5. Discuss the challenges posed by India's current account deficit.
a. What are the primary causes of the deficit?
b. What measures has the government taken to manage and reduce this deficit?
6. Analyze the impact of exchange rate fluctuations on India’s Balance of Payments.
a. How do changes in the exchange rate affect India's trade balance?
b. What strategies does the Reserve Bank of India employ to stabilize the
exchange rate?

Export-Import Policy

7. Evaluate the changes in India's Export-Import Policy over the past two decades.
a. What have been the key focus areas in recent export-import policies?
b. How have these policies supported domestic industries?
8. Discuss the role of Special Economic Zones (SEZs) in promoting exports.
a. How effective have SEZs been in boosting India’s exports?
b. What are the criticisms and challenges faced by SEZs?
9. Analyze the impact of trade agreements on India’s export and import dynamics.
a. Discuss a recent trade agreement and its economic implications.
b. How do such agreements align with India’s broader economic goals?
10. Evaluate the government initiatives aimed at promoting export-oriented growth.
a. What are some successful examples of these initiatives?
b. How do these initiatives help in dealing with global trade challenges?

International Economic Institutions – IMF and World Bank

1. Explain the primary functions of the International Monetary Fund (IMF) and the
World Bank. How do their roles differ in the global economy?
2. Analyze the impact of World Bank projects in developing countries.
a. What are the typical objectives of these projects?
b. Discuss the success and criticisms of a specific World Bank project.
3. Evaluate the role of the IMF in managing economic crises.

Disclaimer

These questions are developed for helping students preparing for RBI Grade B Examination. In no way, it can be
presented as an official version / questions from RBI. This is for your practice.
 13

a. How does the IMF assist countries facing balance of payments

problems?
b. Discuss the conditions typically imposed by the IMF on its loans and
their impact on the recipient countries.

WTO

4. Discuss the main objectives of the World Trade Organization (WTO) and how
it facilitates international trade.
5. Analyze the challenges the WTO faces in the modern global economy.
a. What are the key disputes or issues currently facing the WTO?
b. How effectively has the WTO managed these disputes?
6. Evaluate the role of the WTO in promoting sustainable development.
a. How does the WTO integrate environmental concerns into its trade
negotiations?
b. Discuss a specific case where the WTO’s policies have impacted
environmental outcomes.

Regional Economic Cooperation

7. Explain the concept of regional economic cooperation and its advantages for
member countries.
8. Discuss the economic impact of the European Union (EU) on its member
states.
a. What are the key economic benefits of EU membership?
b. What are the economic challenges faced by the EU?
9. Analyze the role of ASEAN in fostering economic growth in Southeast Asia.
a. What strategies has ASEAN employed to enhance regional trade and
investment?
b. Discuss the challenges ASEAN faces in achieving deeper economic
integration.

International Economic Issues

10. Discuss the global economic impact of China's Belt and Road Initiative.
a. What are the potential benefits for countries participating in this
initiative?

Disclaimer

These questions are developed for helping students preparing for RBI Grade B Examination. In no way, it can be
presented as an official version / questions from RBI. This is for your practice.
 14

b. What are the geopolitical and economic risks associated with this
initiative?
11. Evaluate the economic consequences of Brexit on the United Kingdom and the
European Union.
a. How has Brexit affected trade relations between the UK and EU?
b. What are the long-term economic implications for both economies?
12. Analyze the role of international economic institutions in addressing the issue
of climate change.
a. What initiatives have institutions like the IMF and World Bank
undertaken to combat climate change?
b. How effective are these initiatives in promoting sustainable economic
development globally?

Social Structure in India

1. Discuss the major components of the Indian social structure and how they influence
social mobility.
a. How do caste, class, and ethnicity interact to affect individuals' life opportunities
in India?

Multiculturalism

2. Evaluate the challenges and benefits of multiculturalism in India.

a. How does India's diversity impact its politics, education system, and
workplace?

Demographic Trends

3. Analyze the implications of India's demographic transition on its economy and social
systems.
a. What are the potential impacts of an aging population versus a young
demographic?

Urbanization and Migration

4. Discuss the causes and consequences of rapid urbanization in India.

Disclaimer

These questions are developed for helping students preparing for RBI Grade B Examination. In no way, it can be
presented as an official version / questions from RBI. This is for your practice.
 15

a. What are the social and environmental impacts of migration from rural to urban
areas?
b. Evaluate the role of government policies in managing urban growth and migrant
welfare in cities.
5. How effective are these policies in addressing the needs of migrants and reducing
urban slums?

Gender Issues

6. Analyze the progress and setbacks in achieving gender equality in India.

a. What are the major barriers to gender equality in education, employment, and
political representation?

Social Justice

7. Discuss the concept of social justice in the context of reservation policies in India.
a. How have reservation policies for Scheduled Castes, Scheduled Tribes, and
Other Backward Classes affected social equity and inclusion?
b. Evaluate the effectiveness of the legal system in addressing social justice
issues in India.
8. How well does the Indian legal system handle cases related to discrimination, human
rights violations, and social inequality?

P a g e | 15

Disclaimer

These questions are developed for helping students preparing for RBI Grade B Examination. In no way, it can be
presented as an official version / questions from RBI. This is for your practice.