How to Read Economic Survey for UPSC IAS 2016: This is a very specific article but is extremely essential towards Civil Services Exam Preparation. Since this is one topic which might confuse a number of UPSC CSE Aspirants, we will present this article in the form of a number of questions.
With each level, you get to understand the meaning, use and importance of reading the economic survey in the best way possible.
What is Economic Survey of India?
Economic Survey of India is a flagship annual document of the Ministry of Finance, Government of India.
It analyses the developments in the Indian economy over the previous 12 months in a review format, provides a report of the performance of major development programs and creates special focus on the policies and initiatives of the government.
The Survey brings out Government’s policy on diverse range of issues. It records development/ stagnation in various schemes, and charts country’s progress in comparison with past, with South Asian Countries, Asian Countries, and the World Economy.
What is the Significance of Understanding Economic Survey from the UPSC Civil Services Examination Perspective?
The Economic Survey is a detailed analysis of the development work done by the ruling government in the nation, which is an inseparable part of the Civil Services Exam Syllabus too. This is why it is extremely essential to study, analyze and understand the Economic Survey of India.
Deep knowledge of the current policies and programs of the government also help an aspirant to write meaningful essays in UPSC Civil Services Mains Examination.
What is the weightage given to Economic Survey in UPSC Civil Services Examination, both Prelims and Mains?
From the point of view of UPSC IAS Prelims Examination, it is estimated that a total of 5-6 questions can be easily solved if one has a deep understanding of the Economic Survey of India and we know that in an examination as competitive as IAS, each and every mark matters.
As far UPSC IAS Mains Exam is concerned, the paper is expected to carry 7-8 direct questions based on the Economic Survey of India.
Do you really need to more inferences on how important studying and understanding the Economic Survey is from UPSC Civil Services Exam Perspective?
Proceed to our final section and understand what is the best strategy for studying and learning important details of The Economic Survey of India for IAS Examination.
How To Study Economic Survey for UPSC Civil Services Exam?
For this section, try to stick to each point and follow directions on how to read, learn and study the Economic Survey of India for the upcoming UPSC Civil Services Prelims Examination.
1. Start by reading line by line and mark all the important information from the Civil Services Examination Syllabus Perspective. The Revision Schedule should be selective.
2. Owing to the expanse of the Economic Survey, you can divide it into 3 parts and make notes accordingly to the following sections.
- Part I: Society, Role of Women, Urbanization and Social Empowerment.
- Part II: Welfare Schemes and their analysis, Schemes for Vulnerable Sections, Government Initiatives, Human Resource, Hunger, Malnutrition and Poverty.
- Part III: Agriculture, Subsidy Issues, Macroeconomic Tangibles (as well as intangibles) and Sustainable Technological Initiatives.
This will help you grasp the various aspects of the Economic Survey better and will definitely serve as a better reference point while revising before UPSC IAS Prelims Examination.
3. Familiarise yourself with the Basic Economics Concepts before taking up Economic Survey. It will be a better learning process for you if you know a little about the various economic terms, which will be mentioned in the Economic Survey.
4. Experts recommend that a student should also go through Previous Year’s Economic Survey looking for objectives and goals set up by the Government. This would also bring into perspective the degree of goals that have been met.
Make notes on the fall/ rise in particular economic indicator, in that particular year by comparison, as this insight is important for long answers asked in UPSC Civil Services Examination.
5. Make notes of important data and indicators in the Economic Survey Report that will help you while writing essay type answers.
For example, the Unemployment Data, GDP, Inflation, Food Inflation, Fiscal deficit, Current A/C deficit, Balance of Payments, Foreign reserves, trade balance etc.
6. Make a List of New Schemes, Initiatives, Projects, Missions Introduced or Run by the Government, the Ministry in-charge of it and its main objectives.
7. Highlight all the information related to the recent Current Affairs. Focus on Macro Economics and omit Micro Economic topics as this will be an essential activity towards the preparation of UPSC Civil Services Examination.
8. To point out specifically, the First Chapter – Economic Outlook, Prospects and Policy Challenges is the most important one as it helps provides a preface of the entire survey. Make sure you read that thoroughly.
We conclude our article on effective exam strategy on reading the Economic Survey for UPSC Civil Services Exam Preparation here. If you are preparing for UPSC IAS Prelims 2016, make sure you give these articles a thorough read too.
- IAS Prelims 2016 – How to Prepare for Indian History: Read
- IAS Prelims 2016 – How to Prepare for Indian Polity: Read
- IAS Prelims 2016 – How to Prepare for Indian Economy: Read
- IAS Prelims 2016 – How to Prepare for Ecology and Biodiversity: Read
- IAS Prelims 2016 – How to Prepare for Science and Technology: Read
- IAS Prelims 2016 – How to Prepare for Geography: Read
Let us know if you have any doubts or queries in the comments section below. All the Best for UPSC IAS Civil Services Examination 2016.
For better response, post your queries on OnlineTyari Community.