How to prepare for Indian Economy for UPSC-CSE

Before understanding HOW to prepare for Indian Economy, it is critical to realize WHY is it significant for the exams.

• In the Preliminary Exam, around 18-38 questions are asked since the latest pattern (2010).
• In the Main Exam, around 60% of the questions in GS Paper 3 and many questions in other papers of GS are asked about Indian Economy.
• Essay based on Indian Economy.
• During the interview, numerous questions are asked related to recent economic challenges. 

Clearly, Indian Economy plays a vital role in the examination.

STEPS TO FOLLOW:

Here are three steps that can serve as the edge to excel in your exam preparation strategy:

1. Knowledge Base (1st dimension):

The most remarkable buildings have laid the strongest foundations. Similarly, having adequate knowledge from the right books and references becomes necessary for the exam. I have listed all the resources required for the preparation of Indian Economy.

• India 2023 (Pub. Division, GoI)
• Economic Survey 2022-23 (Min. of Finance, GoI)
• Union Budget 2023-24 (Min. of Finance, GoI)
• Other relevant official documents
• Current economic events (PIB and newspapers)

A good book on Indian Economy that is revised and aligned with the latest official developments in relevant areas is also crucial.

2. Conceptual clarity (2nd dimension):

Once a firm knowledge base is created, conceptual clarity needs to be developed. It essentially means that one should have a basic understanding, not like an economist (specialist), but rather like an expert (generalist). Likewise, it should be limited to the ‘ability to apply’ economics in policymaking. Consider a thermometer, Without knowing the science behind a thermometer, everyone knows how to use it. In the same way, the main motive of attaining ‘adequate knowledge’ should be its application in understanding the socio-economic challenges of India and the world at large, rather than going too deep.

3. Application-Based Learning (3rd dimension):

In 2010, the exam pattern was changed. One of the reasons for that was to avoid rot learning and foster the ability to use knowledge. Therefore, it is quite significant to imagine the ‘applied’ aspect of knowledge, both objectively (prelims) and subjectively (main).

Lastly, it is challenging to ace any exam without constant and thorough revision. One should keep practicing and improving to become the best version of themselves.

In a nutshell, the preparation strategy should be a means to an end. It is easy to get swayed in the jungle of information in today’s world. Thus, limiting the preparation strategy becomes crucial to focus on ‘adequate knowledge’. Constant revision and practice are the cherries on top.