UPSC

INDIAN
ECONOMIC
SERVICE
Previous Year Questions
(Topic-wise segregated)
TILL 2020

INDIAN ECONOMICS
BY ECOHOLICS

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INDIAN ECONOMIC SERVICE

INDIAN ECONOMICS

1. History of development and planning—

Alternative development strategies—
Goal of self-reliance based on import substitution and protection,
The post-1991 globalisation strategies based on stabilisation and structural
Adjustment packages:
Fiscal reforms,
Financial sector reforms and
Trade reforms

1. Discuss the rationale and objectives of disinvestment policy in India. Assess its
performance. (2020)

2. Discuss briefly the relative merits of International Trade and output expansion for
home market as effective engine of economic development in India. (2019)
3. Explain why India continued with inward-looking control-oriented development
policy despite unsatisfactory results. (2019)
4. Analyse the causes of India's balance of payments problems before 1990s. How was
fiscal deficit linked to the balance of payment crisis? Examine the measures taken by
the government of India in correcting the twin deficits. (2019)

5. Evaluate the liberalisation strategy as adopted in India since 1991 to achieve

economic growth. (2018)

6. Critically evaluate inclusiveness and sustainability of growth as the development

strategy in India in recent times. (2017)
7. Economic growth in India in the post liberalisation period is service led. Is this
growth sustainable? (2017)
8. Why do the basic objectives of planning remain unfulfilled in India? Can India
achieve these objectives in the post liberalization period? (2017)

9. Do you agree with the view that the process of globalisation in India has led to
'unequal competition'? (2016)

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10. Manufacturing sector needs to be strengthened and developed but the role of the
service sector cannot be ignored. Discuss. (2015)

11. Describe India's development strategy of selective inter-dependence after attaining

Independence. (2014)
12. How is unemployment measured in India? Discuss giving estimates of various forms
of unemployment in the Indian economy. (2014)

13. Differentiate between self-sufficiency and self Reliance as an objective of Indian

planning. (2013)
14. Examine wage goods development strategy as an alternative to Mahalanobis
development model at the time of second five-year plan. (2013)
15. Examine the changing role of Reserve Bank of India since 1991. (2013)

16. What are the measures adopted since 1991 for structural adjustment of the Indian
economy? (2012)

17. Give five arguments in favour of Trade Reforms introduced in India in 1991. (2011)
18. "Financial Sector Reforms undertaken in 1991 and 1998 were an essential pre-
requisite, for a globally integrated, liberated, based economy." Elaborate. (2011)
19. "P.C. Mahalanobis' Four Sectoral Model of second five year plan failed as it was
based on wrong assumptions of the Indian economy." Do you agree? (2011)

20. Comment features of planning in India. (2010)

21. What triggered the Indian economic reforms of 1991? Explain in detail. (2010)

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2. Federal Finance
Constitutional provisions relating to fiscal and financial powers of the States, Finance
Commissions and their formulae for sharing taxes,
Financial aspect of Sarkaria Commission Report,
Financial aspects of 73rd and 74th Constitutional Amendments.

1. Discuss the criteria weightage assigned for determining the sharing of Union Tax
proceeds and recommendations of the 14th Finance Commission in India. (2020)

2. What are the issues of conflict between the centre and the states with respect to
their financial relations? (2019)

3. Describe briefly how resources are transferred from the centre to the states in India.
(2017)
4. Why are states in India not satisfied with the financial arrangement between the
centre and the states? In this context, what were the major recommendations of the
Sarkaria Commission? (2017)

5. Enumerate constitutional provisions relating to financial relations between the

centre and the states. (2016)
6. Do you think that the recommendations of the 14th Finance Commission will help in
promoting Cooperative federalism in the country? (2016)

7. State the major recommendations of the 14th Finance Commission. (2015)

8. Comment on the major Federal fiscal problems between the centre and states in
India. (2015)

9. Examine the changing criteria adopted by the Finance Commissions for the vertical
distribution of Central tax proceeds among the states. (2014)

10. Mention five issues of conflict between centre and States financial relations. (2013)
11. Critically examine the state financiers and suggest alternative sources of financing a
State Government other than grants and loans from the Central Government. (2013)

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12. What do you mean by vertical and horizontal inequalities? How has the 13th finance
commission helped in meeting the physical needs of states in India to solve this
problem? Comment on the scheme of special grants in a
13. Write a critical note on the criteria and relative weights for determining inter-se
share of States in fiscal transfer in India. (2011)

14. Explain the recommendations of the latest Finance Commission of India over sharing
of revenue between the Centre and the States. Comment on them. (2010)

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3. Budgeting and Fiscal Policy

Tax,
Expenditure,
Budgetary deficits,
Pension and
Fiscal reforms,
Public debt management and reforms,
Fiscal Responsibility and Budget Management (FRBM) Act,
Black money and Parallel economy in India—definition, estimates, genesis, consequences
and remedies

1. Explain the concept, features and recent changes of the Fiscal Responsibility and
Budget Management (FRBM) Act 2003 in the context of limiting India’s fiscal deficit
and debt deficit. (2020)
2. Examine the causes and consequences of the recent slowdown in Indian economy.
What are the initiatives undertaken by the government to overcome it? Give your
suggestions. (2020)

3. Critically evaluate the problems relating to the implementation of goods and services
tax. (2019)

4. What do you understand by the fiscal responsibility and budget management act?
Explain its importance in brief. (2018)
5. Do you agree that the recent demonetisation in India has not yielded the desired
outcome in respect of curbing the menace of Black Money? Give reasons in support
of your answer. (2018)
6. Analyse the evolution of deficits and debts in India since 1980s. What type of
measures would you suggest to achieve fiscal balances? (2018)
7. Why has the government of India considered the introduction of the Goods and
Services Tax (GST) to be a great Leap Forward in the context of the Indian economy?
(2018)

8. How was the economic crisis faced by India in the early nineties related to her
internal fiscal imbalances? (2017)
9. What are the consequences of black money in India? (2017)
10. Do you think that the agricultural income in India should be taxed? Give reasons for
your answer. (2017)

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11. Do you think the imposition of GST will lead to enhanced tax collection for the centre
and the states? Will it reduce the incidence of taxation on the common people?
(2017)

12. Distinguish between revenue deficit, effective revenue deficit, fiscal deficit and
primary deficit. (2016)

13. Despite increased collections from taxes, Tax-GDP ratio in the case of Central
Government continues to be stagnant. Give reasons. (2016)
14. Do you think that the union budget is pro-poor? Give reasons in support of your
answer. (2016)
15. Do you think that Fiscal Responsibility and Budget Management Act, 2003 should be
modified? Give reasons. (2015)

16. What constitutes Black Economy of India? Enumerate its dimensions. (2014)
17. Do you agree that there is significant divergence between statutory rates of taxes
and effective rates of taxes? Give reasons in support of your answer. (2014)

18. Discuss the major problems in implementation of Fiscal responsibility and Budget
Management Act in India. (2013)
19. Why is the value of Indian rupee depreciating in recent times? Discuss its
implications action on Current Account Deficit and Fiscal Deficit. Are the measures
taken by the government and the RBI sufficient? If not, what should be done? (2013)

20. What policy instruments are used in fiscal reforms in India and for what effect?
(2012)
21. What are the invisible items in the Balance of payments and why are they so called?
(2012)
22. Examine the causes of Fiscal deficit in India and highlight feasible mitigation
strategies. (2012)

23. Which two accounts are summed up in current account balance in India and how
much is the ratio of Current Account Deficit to GDP now in India? (2011)
24. Why are fiscal deficits and revenue deficits a cause of concern, especially for a
developing economy like India? Give recent examples. (2011)

25. Comment on parallel economy in India. (2010)

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26. What is meant by Balance of Payment deficit disequilibrium? Give a brief account of
important causes of the Balance of Payment disequilibrium. Review India's present
position in this respect. (2010)

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4. Poverty, Unemployment and Human Development

Estimates of inequality and
Poverty measures for India,
Appraisal of Government measures,
India’s human development record in global perspective
India’s population policy and development

1. Write a note on Human Development Report (HDR) 2019, with reference to India.
(2020)
2. What are the causes and extent of unemployment in India? What do you understand
by the term jobless growth? Explain this in light of recent experience. (2020)
3. What are the main pillars of Make in India programme? Discuss the impact of it on a.
manufacturing and b. automobile sector. (2020)
4. Give and account of MGNREGA in India. Explain the extent to which it has been
successful in combating rural unemployment and poverty. What are your
suggestions to make it more effective? (2020)

5. Discuss the trend of the sex composition of population in India. What are its
determinants? Comment on the measures adopted by the government of India to
check further loss of girls. (2019)

6. The emerging trend in economic inequality in India does not augur well. Point out
the main factors responsible for the trend and suggest appropriate measures to this
effect. (2018)
7. Do you subscribe to the view that development of economic and social
infrastructure is central to any future strategy of poverty alleviation in India?
Elaborate your answer. (2018)
8. The success of realising the demographic dividend hinges upon the success of Skill
India programme, which in turn depends upon the resources allocated to human
capital formation. Evaluate critically. (2018)

9. What are the various dimensions of poverty? Has the economic reform package
ultimately reduced the incidence of poverty in India? (2017)
10. How will you explain the paradox of high economic growth and low human
development in India in recent times? (2017)

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11. Why is India's Human Development record still poor in spite of higher GDP growth
rate? (2016)

12. Anti-poverty programmes need to be reoriented for assets creation rather than
providing employment in rural areas. Comment. (2015)
13. India's Human Development record continues to be gloomy. Can you suggest
measures to improve it? (2015)
14. Skill development and increase in labour productivity will impact India's growth rate.
In this context, would you suggest changes in India's education policy? (2015)
15. It is not the population but the poverty and unemployment are the two most chronic
problems of the Indian economy. What policy measures would you suggest to solve
these problems? (2015)

16. Comment on the plausibility of the current poverty estimates in the context of the
controversy surrounding the procedures for poverty estimation. (2014)
17. How is unemployment measured in India? Discuss giving estimates of various forms
of unemployment in Indian economy. (2014)
18. Do you agree that urban inequalities have grown with the passage of time in India?
Give reasons in support of your answer. (2014)

19. Malthus made a case for delayed marriages to control population but he was silent
on different age specification for male and female. Why, in India, we have different
minimum wages for marriage for boys and girls? (2013)
20. Define and distinguish between primary poverty and the secondary poverty in Indian
context. (2013)
21. Comment on Swarna Jayanti Shahari Rozgar Yojana for removing urban poverty and
unemployment in India. (2013)
22. What are the governmentally run schemes for providing gainful employment in rural
areas? (2012)
23. What are the changes which have been incorporated in the National Population
Policy 2000, to improve the quality of population? (2012)
24. What are some demographic issues which are a matter of concern for India, as
brought out in census 2011? (2011)
25. Why has the Poverty Line methodology given by Planning Commission of India
become controversial? Is the criticism really justified? Examine critically. (2011)

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26. Explain the relation between poverty, unemployment and inequality. Comment on
the method of determination of the poverty line in India. (2010)

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5. Agriculture and Rural Development Strategies

Technologies and institutions,
Land relations and
Land reforms,
Rural credit,
Modern farm inputs and
Marketing—
Price policy and
Subsidies;
Commercialisation and diversification
Rural development programmes including poverty alleviation programmes, development of
economic and social infrastructure and
New Rural Employment Guarantee Scheme

1. Briefly discuss the salient features of National Agriculture Market (NAM) in India.
(2020)
2. Discuss the salient features of National Food Security Act, (2013) in India. Give a
critical assessment of it. (2020)
3. “Subsidies may be a hidden culprit in India’s farm crisis”. Critically examine the
statement. (2020)
4. Discuss the trends of agricultural growth rates in India during the post reform period.
What are the factors responsible for the decline in growth rates? Evaluate the
measures taken by the government to revive this sector. (2020)

5. Examine the possible consequences of opening up the Indian agriculture to the

world markets? (2019)

6. Comment on the required rate of growth for doubling farmers' income within five
years. What measures have been taken by the Government of India to achieve this?
Are those measures adequate? Give your suggestions. (2019)
7. What are the problems associated with poverty alleviation programmes of the
Government of India? Do you support the principle of Universal basic income as a
better alternative? Give reasons for your answer. (2019)

8. Give a short account of the Pradhan Mantri Krishi Sinchai Yojana. (2018)
9. Describe the salient features of National Health Mission in India briefly. (2018)

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10. What do you understand by diversification of agriculture in India? Critically examine

the role of Agricultural price policy in this context. (2018)

11. Agricultural credit from institutional sources is a chronic problem in India. In this
context, explain the role of commercial banks in disbursing agricultural credit. (2017)
12. What are the challenges faced by India for financial inclusion in rural areas? Discuss
how this problem can be overcome. (2017)
13. What are the flaws in Public Distribution System (PDS) in India? Do you think
Targeted Public Distribution System (TPDS) can remove these flaws? Explain. (2017)

14. "Green revolution in India has improved Indian farming but has failed to address
challenges". Do you agree? Give reasons in support of your answer. (2016)

15. Subsidies are a source of inefficiency and corruption. They should be rationalised
and ultimately phased out. Illustrate your answer in the Indian context. (2015)
16. Industrial development and Agricultural Development are two sides of the same
coin. What policy prescriptions would you advocate in the context of the Indian
economy? (2015)

17. Give arguments against subsidies in India. (2013)

18. Discuss the major weaknesses of Agricultural price policy of India. Suggest suitable
remedial measures. (2013)
19. Comment on the various sources of Industrial financing in India for conducive
industrial climate. Suggest suitable for alternative sources for strengthening
industrial financing. (2013)

20. Highlight the nature of the land reforms still needed in the Indian economy. (2012)
21. How is agricultural price policy determined in India? Does the process take note of
Agricultural subsidies? (2012)
22. Explain the nature and process of public sector reforms in India. What additional
measures are required? (2012)
23. What were the components of the New Agricultural Strategy adopted in late sixties?
Narrate the positive and negative impacts of the Green Revolution. At present, what
measures should be adopted to bring Second Green Revolution in Indian agriculture?
(2012)

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24. What are the important forms of farm subsidies in India and what is their
justification? (2011)
25. What are the challenges and priorities of Indian agriculture in meeting WTO
requirements keeping in view the provisions on Agreement on Agriculture (AOA)?
(2011)

26. Comment on PURA Model (Providing Urban Amenities in Rural Areas) (2010)
27. What measures need to be adopted to improve the economic conditions of farm
workers in India? Discuss. (2010)
28. Discuss the agricultural price policy of the Government of India. Will you suggest
changes in this policy? Justify your answer. (2010)

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6. India’s experience with Urbanisation and Migration

Different types of migratory flows and their impact on the economies of their origin and
destination,
The process of growth of urban settlements;
Urban development strategies

1. What are the objectives of smart cities mission in India? (2020)

2. Discuss in brief the salient features of Digital India programme. (2020)
3. Bring out the factors responsible for rapid urbanisation in India. What are the policy
measures taken to prevent the undesirable effects of rapid urbanisation? (2020)

4. What are the links between urbanisation and economic development? Do you think
that Indian cities and towns have adequate infrastructure to bear the burden of
increased population? What measures have been taken by the government of India
to address this problem? (2019)

5. How has the rural-urban migration in India impacted the two sets of areas in social
and economic terms? What policy measures would you prescribe to negate the
negative impacts of the said process of migration? (2017)

6. Is increasing urbanisation in India the result of push factors rather than pull factors?
Discuss. (2016)
7. Mention economic and non-economic factors affecting migration from rural areas to
urban areas in India. (2013)
8. What problems are faced in the implementation of Urban Development strategies?
(2012)
9. Critically assess the impact of urbanisation on socio-economic situation in India.
(2010)

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7. Industry: Strategy of industrial development

Industrial Policy Reform;
Reservation Policy relating to small scale industries
Competition policy,
Sources of industrial finances
Bank,
Share market,
Insurance companies,
Pension funds,
Non-banking sources and
Foreign direct investment,
Role of foreign capital for direct investment and
Portfolio investment,
Public sector reform,
Privatisation and
Disinvestment

1. Explain why many of the public sector enterprises have become a burden on the
Government of India? (2019)
2. Examine the role of the state in the new development strategy in India. How far has
government compromised with its social objectives? Do you support the
disinvestment policy? Explain. (2019)
3. Do you think that India failed to acquire the ability to design, fabricate and erect its
own plants without foreign assistance? Comment on the Make in India policy
Government of India in this light. (2019)
4. Are Investment decisions based on commercial judgements superior to allocation of
resources through planning on the basis of preconceived notions of social desires?
Elaborate your answer comparing the July 1991 Industrial policy to the earlier
policies. Is this change beneficial for the Indian economy? Discuss. (2019)

5. How can the disinvestment drive be invigorated in the Indian Economy? (2018)
6. What in your opinion is the present outlook in respect of the industrial performance
of Indian economy 208-19? What are the favourable factors, risks and challenges in
this regard? (2018)

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7. Critically evaluate the government policies towards the public sector enterprises
since 1991. Do you think these enterprises are still relevant for industrial
development in India? (2017)
8. What are the major problems of industrial development in India? Can the “Make in
India programme recently launched by the Government of India eliminate some of
these problems? (2017)

9. Disinvestment policy of the government has failed to deliver results. Do you agree?
Give reasons. (2016)
10. Discuss recent initiatives undertaken by the government to boost industrial growth
in India. (2016)
11. MSME’s have a critical role in boosting industrial growth in India and ensuring the
success of “Make in India” programme. Explain (2016)

12. Bring out the importance of micro, small and medium enterprises in the context of
the Indian economy. (2015)
13. Nonbanking financial institutions need to be effectively regulated and monitored in
India. Can you suggest some measures in this direction? (2015)
14. Industrial development and agricultural development are the two sides of the same
coin. What policy prescriptions would you advocate in the context of the Indian
economy? (2015) (from topic 5 and 7)
15. How far can India’s New Competition Policy help to make Indian industry more
competitive especially vis-à-vis the MNC’s? Analyse and support with evidence.
(2014)

16. How far is the restructuring of the PSUs to make them more competitive a better
strategy to enhance, rather than the tactic policy of privatizing them? Discuss in the
light of practical evidence and recommendations?
17. Conceptualize medium enterprises as MSMED Act, 2006. (2013)
18. Justify level-playing-field for various categories of Indian industries for coexistence.
(2013)

19. In quantities terms, bring out how far the disinvestment policy has been successful I
India? (2012)
20. Discuss the role of share market in maximising resources for investment in Indian
industry. (2012)
21. How are micro enterprises different from small scale industries? (2012)

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22. Critically examine the impact of the New Industrial Policy initiated in India in 1991.
(2010)

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8. Labour
Employment,
Unemployment and
Underemployment,
Industrial relations and
Labour welfare—
Strategies for employment generation—
Urban labour market and
Informal sector employment,
Report of National Commission on Labour,
Social issues relating to labour
e.g. Child Labour, Bonded Labour International Labour Standard and its impact.

1. Discuss the recent reforms in labor market in India. (2020)

2. Elaborate the causes of prevalence of child labour in India. Suggest suitable

measures to control it. (2019)
3. Examine the nature of the Reserve Army of labour in India after the adoption of the
neo-liberal policies. Do you think that India will continue to be an informal economy
in near future? Give reasons for your answer. (2019)
4. Is it possible to transform India's Youth from job seekers to job creators in the
changing jobs scenario in India? What steps have been taken by the government of
India to attain this objective? (2019)

5. Define informal sector employment. What types of vulnerabilities are faced by

workers in the informal sector in India? Point out the required policy measures to
ameliorate the social and economic hardships of Indian formal sector workers.
(2018)
6. What are the major social issues related to child labour in India? (2018)

7. Do you think that the employment generation strategy adopted by the government
of India since 1991 can reduce unemployment significantly? (2017)

8. “Bonded labour continues to exist in India despite government’s efforts to regulate

it.” Comment. (2016)

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9. India is presently facing dual challenges of developing skills and using skills. Discuss.
(2016)

10. Child labour continues to be a permanent problem in India. Suggest pragmatic ways
to control it. (2015)

11. What provisions have been enshrined in the National Security Act, 2008 for
Unorganized Sector Workers? Discuss critically giving evidence on its progress and
achievements so far. (2014)
12. In what way are India’s labour markets rigid? Enlist the recommendations of the
second National Commission on Labour to provide flexibility to Indian labour market.
(2014)

13. Explain the difficulties in implementation of Ban on Child Labour in India. (2013)

14. Comment on the finding of the latest report of the National Commission of Labour
regarding informal sector employment. (2012)

15. Examine unit labour cost as a tool for competitiveness in India. Compare this with
some developed economies of the world. (2011)

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9. Foreign trade
Salient features of India’s foreign trade,
Composition,
Direction and
Organisation of trade,
Recent changes in trade,
Balance of payments,
Tariff policy,
Exchange rate,
India and WTO requirements.
Bilateral Trade Agreements and their implications.

1. Examine the Foreign Trade Policy in India (2015-2020) in the context of its vision,
mission and objectives. (2020)

2. Examine how International agreements under the World Trade Organisation have
affected Indian agriculture and industry. (2019)

3. Critically analyse the role of foreign capital in promoting investment in India. (2018)
4. Describe in brief the composition of India’s imports during the economic reform’s
era? (2018)

5. Critically evaluate the issue of capital account convertibility in the context of the
Indian economy? (2017)
6. Mention the major trade policy reforms in India since 1991. How has it affected the
structure of India’s foreign trade? (2017)
7. Explain how curtailment of domestic absorption improved the balance of payment
situation of India? (2017)

8. Analyse the extent to which the composition and direction of India’s foreign trade
have undergone changes during last ten years. (2016)
9. Enumerate the reasons for decline in growth rate of India’s exports. (2016)

10. Why is it crucial to bring about a shift in India’s direction of foreign trade towards
trading blocs such as SAARC and ASEAN, and economic grouping like BRICS? Discuss

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the expected benefits and pitfalls in the light of the evidence since the last decade.
(2014)
11. Critically evaluate the centre’s decision to abdicate its decision-making power in
favour of States on whether to allow or disallow FDI in front-end retail. (2014)
12. Critically discuss India’s Food Security Act, 2013 and point out its incongruity with
the WTO norms as recently proclaimed at recently concluded Bali Summit. (2014)

13. In what way is the direction of India’s foreign trade changing? Is this also influencing
the composition of trade? (2012)
14. Critically assess the role of FDI in insurance and pension funds. (2012)

15. What are the main features of Foreign Trade Policy (FTP) 2004-09 adopted by the
government of India? Has India conformed to this? (2011)
16. What has been the experience of India in relation to SEZ policy framework? Has it
satisfied the requirements of all principal stakeholders? (2011)

17. Trade-Related Intellectual Property Rights (TRIPS). (2010)

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10. Money and Banking

Financial sector reforms,
Organisation of India’s money market,
Changing roles of the Reserve Bank of India,
Commercial banks,
Development finance institutions,
Foreign banks and
Non-banking financial institutions,
Indian capital market and
SEBI,
Development in Global Financial Market and its relationship with Indian Financial Sector.
Commodity Market in India-Spot and Futures Market, Role of FMC.

1. Give an account of the progress and expansion of banking network and Pradhan
Mantri Jan dhan yojana in the context of financial inclusion in rural India. (2020)
2. Discuss the capital market reforms in India. What is the role of capital market in
India’s industrial growth? Highlight the measures taken by Securities Exchange Board
of India (SEBI) in the development of capital market in India. (2020)

3. Examine the nature of systematic weaknesses in controlling the Indian money and
capital market in view of the recent scams. Suggest some remedies to counter these
deficiencies. (2019)
4. Critically examine the rationale of the withdrawal of a significant volume of currency
in circulation in India in the recent past. Do you think that this temporary shock will
lead to deeper and long-term recession in the economy? Give reasons for your
answer. (2019)

5. Give a brief account of the composition of the Indian Capital Market and comment
on the role of Securities and Exchange Board of India (SEBI) in this regard. (2018)

6. Do you think demonetization of higher currency notes will have any effect on output
and employment in India? (2017)

7. What are the factors responsible for deterioration in the asset quality of banks in
India? (2016)

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8. Point out the problems of Indian capital market. In this context, evaluate the role of
SEBI in strengthening capital market. (2016)

9. Financial inclusion is a must for healthy growth of the Indian economy. In this
context, what measures would you suggest to promote household savings in India?
(2015)
10. In the context of purchasing power parity, Indian rupee is undervalued in dollar
terms. How far is it true? (2015)
11. Do you think that fiscal reforms should supplement financial sector reforms to
achieve the objective of stabilization and employment generation in the Indian
economy? Explain. (2015)

12. Do rising stock market prices necessarily project the health of the economy? Give a
well-reasoned answer with evidence from the Indian economy. (2014)
13. Examine the extent to which RBI’s monetary policy stance on achieving twin
objectives of containing inflation and facilitating growth has been successful. (2014)

14. Differentiate between narrow banking and universal banking in Indian context.
(2013)
15. Examine the changing role of RBI since 1991. (2013)
16. How are non-banking financial institutions important in Indian economy? (2012)
17. What, in your view, are the causes for the continual fluctuations/fall in the value of
the Indian rupee in Dollar terms in recent times? Suggest possible mitigation
strategies. (2012)
18. How are foreign banks regulated in India? Do you think such regulation is required in
the Indian context? (2012)
19. What is monetary policy alone inadequate to combat inflation in India? Explain in
the wake of raising REPO and reverse REPO rates in recent months by RBI. (2011)
20. Money market in India has developed in terms of participants, number of securities
and institutions. Comment and explain how RBI regulates the money market. (2011)
21. Comment on Moral Suasion and the RBI (2010)
22. Enumerate the functions of financial markets with special reference to India. (2010)
23. Discuss the promotional and developmental functions of the RBI. Evaluate the RBI’s
performance in this sphere. (2010)
24. “The existence of Non-Banking Financial Intermediaries (NBFI) has reduced the
scope of the effectiveness of monetary policy”. Do you agree? Explain with examples

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drawn from the Indian experience. (2010)

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11. Inflation
Definition,
Trends,
Estimates,
Consequences and remedies (control):
Wholesale Price Index. components and trends
Consumer Price Index: components and trends

1. Distinguish between “wholesale price index” and “consumer price index” in India.
(2020)
2. What are the causes and consequences of inflation in India? What are the initiatives
and measures taken by the RBI to contain it? In this context, discuss the relevance of
inflation targeting in India. (2020)

3. What were the causes of inflationary rise in prices of food grains in India? To what
extent was future trading in essential items responsible for this food inflation?
(2019)

4. Distinguish between Wholesale Price Index (WPI) and Producer Price Index (PPI) and
explain the way Headline Inflation is measured in India. Also explain the current
approach of the RBI in maintaining price stability and growth. (2018)

5. Distinguish between various concepts of consumer price index in India. Which of

them is used for compensating the employees for inflation and why? (2013)

6. How is the Consumer Price Index prepared in India? (2012)

7. Why is monetary policy alone inadequate to combat inflation in India? Explain in the
wake of raising REPO and reverse REPO rates in recent months by RBI. (2011)
8. What is the total number of items in the revised WPI series with 2004-05 base, and
what weights are assigned to Primary articles, Fuel and Power, Manufactured
Products? Do you think the mix of items is appropriate? (2011)

9. Define inflation. What are the effects of inflation? Give reasons for the differential
effects of inflation on different sections of India’s population. Indicate the welfare
implication. (2010)

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