INTERVIEW FOR CSE 2019 All ForumIAS members selected for CSE 2019 Personality Test must submit their details and DAF and register below to receive further instructions and guidance from ForumIAS. Click here to register now
INTERVIEW 2020 CHANNEL ForumIAS Channel for Interview Preparation is now Active! Please join the channel by clicking here
Economic survey for 2015-16 has been released. As we all know, it’s a very important document for exam purposes. You can download it for FREE from here.
As with the last year, this year’s survey is a two volume book. Volume one deals with conceptual and analytical issues while volume two deals with the state of economy and sectors of economy in some detail with more focus on immediate issues and statistics. I have just finished reading volume one and I am going to discuss how to read this document effectively.
There are 11 chapters in the volume one. Every chapter is important, so sit tight and read one chapter at a time and take notes. Except for chapter 1 which is some 36 pages long, every other chapter is only 9 to 13 pages long which will take about 45 min to 1 hour each for reading and taking notes.
Chapter one basically gives broad overview of the economy, challenges and opportunities, analyses pros and cons of rapid fiscal consolidation. It also gives glimpses of what to expect from the subsequent chapters. I will suggest, you all begin with chapter one.
Three most enlightening chapters of the survey are-
Chapter 2, The Chakravyuha Challenge of the Indian Economy – It highlights the problem of difficult exit of firms just as Abhimanyu could not exit from Chakravyuha. The survey aptly describes it as “From socialism with restricted entry to “marketism” without exit“.Chapter 6, Bounties for the Well-Off – It’s a real eye opener and describes in detail government subsidies (implicit and explicit) for the well off section of society, what could only be described as Socialism for the rich and Capitalism for the poor.Chapter 7, Fiscal Capacity for the 21st Century – Best chapter of the survey by many miles. It would clear all your doubts regarding government taxation and expenditure, whether government spends less or more and how middle class simply exits from the state if state’s role is seen as primarily distributional.
All other chapters are equally great but I found these three very different and interesting.
Some do’s and don’ts
Don’t try to finish the survey or even first volume in one go, read one chapter at a timeYou should read volume one from cover to cover. It’s very interesting and will help you in essay, paper 2, paper 3 as well as paper 4, yes in ethics paperVolume two is not that important. What is to be read from that will be updated tomorrowTake simultaneous notes while reading a chapter, note down important points and doubts and get them resolved in doubts clearing forumMany times, the stuff put in the box have been directly asked in Mains. Do read them properly. But some box are highly technical, for instance first two boxes of chapter one, no need to go into nitty-gritty of them. Just try to understand the basic idea.
These could be the best 150 pages you would ever read for exam purpose. So, don’t wait for the substandard summaries to arrive in the market. You all have ample time before prelims, start reading one chapter a day. You will gain immense knowledge.
Of course, we shall be covering important portions of survey here at CD but you should read the full volume, especially the three chapters I mentioned.
Having already discussed how to best read volume one of economic survey, I shall now discuss, what to focus on and what to leave in the volume two of this amazing document.
Those who haven’t read part one, don’t move ahead without reading part one – How to read the Economic Survey
At the very outset let me tell you that volume two is not that interesting and is full of facts and figures and not much of analysis. Hence only selective reading is recommended.
There are nine chapters in volume two which basically cover happenings in the economy during last one year with some forward guidance. Chapters are pretty longish with most of them crossing 20 pages (only 9-13 pages in volume one).
Chapter one gives broad overview of the economy and glimpses of what to expect from the subsequent chapters. After that there are chapters on fiscal policy, monetary policy, external sector, agriculture, economy and services, climate change and human development. As I have already mentioned, there’s not much of analysis and most of the chapters make for very boring reading and not much important for examination.
There’s only one chapter which I would recommend you to read line to line, for every word is a virtual gold mine and that chapter is chapter eight, climate change and sustainable development. Please note down important points and try to understand the analysis of double counting of aid as climate finance, why CDM market is down and various issues associated with green finance.
What else to study?
As mentioned in the part one, boxes are important. But in this volume many boxes are rubbish. I am highlighting not to be missed boxes, rest you can skim through. Box 1.1, 2,3, 3.2, 3.3, 3.4, 3.5, 4.1(very imp), 4.2, 4.3 (very very imp), 5.1, 5.2, 6.1, 6.2 (very imp), 6.4 (imp), 6.5, 6.6, 7.1 (read), 7.2 (only first part related to medical tourism), 9.2.9.3 Following selected portions are recommended for line to line reading Pathways to productivity in agriculture in chapter five from 5.26 to 5.61,Tourism including medical tourism in chapter seven from 7.25 to 7.29Issue of women employment, unpaid work and care economy in chapter nine from 9.5 to 9.23Draft bankruptcy code on page no. A 4 of statistical appendix
What else is important in volume two?
Authentic data about GDP growth, share of agriculture, industry and services in GDP and employment, savings, investment, gross fixed capital formation, major export and import items, major trading partners etc.
Data is dispersed in the survey so, let us make it easier for you. We will bring to you all the important data at one place as we cover economic survey chapter by chapter. In the meantime, start reading volume one from cover to cover for as I said before, they could be the best 150 pages you would ever read for exam purpose.
Thanks.but how to start the economy for both prelims and mains?can you give a broad map for economy i.e from where to start and how to link the concepts.which books to refer? Thanks in advance
@shrikanth.... Start off with the two ncerts macro economics, and indian economic development. Then read any basic text for indian economy like sriram or ramesh singh or any other. For history of economy you can read uma kapila.... Along with these, always make sure that you are economy section of the newspaper or one business newspaper.... Remember, mostly economy questions are mostly easy, so dont go into a lot of useless technical stuff. PS: read economic survey too from start to end
@shrikanth.... Start off with the two ncerts macro economics, and indian economic development. Then read any basic text for indian economy like sriram or ramesh singh or any other. For history of economy you can read uma kapila.... Along with these, always make sure that you are economy section of the newspaper or one business newspaper.... Remember, mostly economy questions are mostly easy, so dont go into a lot of useless technical stuff. PS: read economic survey too from start to end
1)how about march of indian economy by ic dhingra? 2)is it okay to refer mrunal economy videos if yes when to start ?
@shrikanth 1) IC Dhingra.... No idea... have not read... may be others here can help 2) Mrunal: Videos are good. you can watch them. Personally, I am not a big fan of videos, because watching videos is a one way process. Soon, people just lay back and watch videos. But reading books is a two way process where you internalise things faster.
@shrikanth 1) IC Dhingra.... No idea... have not read... may be others here can help 2) Mrunal: Videos are good. you can watch them. Personally, I am not a big fan of videos, because watching videos is a one way process. Soon, people just lay back and watch videos. But reading books is a two way process where you internalise things faster.
We are a secret self-moderated community for Civil Services preparation. Feel free to join, start a discussion, answer a question or just to say Thank you.Just dont spread the word ;)Sign in or join with Facebook or Google
ForumIAS is India’s leading Online website for UPSC IAS Exam Online Preparation and guidance. At ForumIAS, we have a dream. Our dream is to make its members achieve their IAS dream. Today thousands of aspirants have joined the elite services such as IAS, IPS, IFS, IRS and other central and state services with the right inputs provided by ForumIAS. Take a look at our IAS Toppers
Free IAS Online Preparation Initiatives by ForumIAS
Current affairs is the most important part of UPSC IAS exam. ForumIAS provides a detailed analysis of important news articles through its 9PM brief. In current affairs reading Editorials Online needs an in-depth focus and hence we provide a separate analysis of daily editorials which is not found in any other website. Click the following link to access these free preparation initiatives in Portal . ForumIAS also provides compilations and Free downloads for UPSC IAS preparation
Knowing is never enough for IAS exam. An IAS aspirant must be engaged in answer writing practice to do well in UPSC IAS Mains Exam. ForumIAS has launched a Mains Marathon initiative for IAS mains Online answer writing. Click here to access UPSC Mains Marathon initiative . For Daily Must Read Newspaper articles, Visit Must Read Newspaper page here. Must Read Newspaper is an Initiative by Team ForumIAS to provide Current Affairs links to the Must Read Articles of The Day from Newspaper.
UPSC Syllabus
The most important part of UPSC IAS exam is its syllabus and there is a need to take an in-depth look at it. Click here to view the UPSC IAS Prelims syllabus. Visit UPSC IAS syllabus page here
UPSC IAS Study Material
ForumIAS is the repository of many toppers’ Online study materials for GS Mains and Optional subjects. The most unique thing about it is that they are handwritten by toppers themselves. Click here for UPSC sample notes
Interview Preparation for IAS
Interview is the last and crucial stage for becoming an IAS officer. How to prepare for it? We provide a solution. ForumIAS is the only online website where quality IAS interview preparations happen. Online Current affairs from an interview perspective are extensively discussed and specific preparation based on candidate’s profile and hobbies can be done. Please visit this link for UPSC Interview Preparation
At ForumIAS we have an exclusive Online page to read the UPSC Interview Transcripts
Indian Forest Service (IFoS)
IFoS is one of the most sought after All India Service. ForumIAS provides the right approach to excel in this exam through their toppers who have shared their success mantras and their study materials in an elaborate manner.
About Indian Administrative Service (IAS)
IAS is considered as one of the best jobs on earth. IAS officers hold the most important positions in Central and State Governments and in Public Sector Undertakings (PSUs). They also represent India in international organizations. They take the most important decisions in the administration of Government policies and development programs.
About Indian Police Service (IPS)
IPS officers occupy higher positions in the State Police Departments, Central Armed Police Forces and Intelligence Agencies. Their most important responsibilities are maintenance of Law and Order and internal security.
About Indian Foreign Service (IFS)
IFS officers serve as diplomats in international missions and embassies of India around the world and in prominent international organizations like United Nations (UN), World Bank, and IMF. They work to promote India’s interests from a bilateral and a global perspective.
The Study portal is a single point of online IAS preparation through its several initiatives like the Must Read News Articles, the 9 PM Brief, the Mains Marathon. If you are preparing for IAS exam online, ForumIAS is the place to go. ForumIAS is proud of ForumIAS Alumni in UPSC Service who have secured top Ranks in past 5 years.
Visit Us At
ForumIAS - Offline Guidance Centre
ForumIAS Academy, 1st Floor, IAPL House, 19, Pusa Road, Opposite Metro Pillar 95-96, Karol Bagh, New Delhi-110005,
View Google Map Location
Comments
How to read the Economic Survey - Volume 1
Economic survey for 2015-16 has been released. As we all know, it’s a very important document for exam purposes. You can download it for FREE from here.
As with the last year, this year’s survey is a two volume book. Volume one deals with conceptual and analytical issues while volume two deals with the state of economy and sectors of economy in some detail with more focus on immediate issues and statistics. I have just finished reading volume one and I am going to discuss how to read this document effectively.
There are 11 chapters in the volume one. Every chapter is important, so sit tight and read one chapter at a time and take notes. Except for chapter 1 which is some 36 pages long, every other chapter is only 9 to 13 pages long which will take about 45 min to 1 hour each for reading and taking notes.
Chapter one basically gives broad overview of the economy, challenges and opportunities, analyses pros and cons of rapid fiscal consolidation. It also gives glimpses of what to expect from the subsequent chapters. I will suggest, you all begin with chapter one.
Three most enlightening chapters of the survey are-
Chapter 2, The Chakravyuha Challenge of the Indian Economy – It highlights the problem of difficult exit of firms just as Abhimanyu could not exit from Chakravyuha. The survey aptly describes it as “From socialism with restricted entry to “marketism” without exit“.Chapter 6, Bounties for the Well-Off – It’s a real eye opener and describes in detail government subsidies (implicit and explicit) for the well off section of society, what could only be described as Socialism for the rich and Capitalism for the poor.Chapter 7, Fiscal Capacity for the 21st Century – Best chapter of the survey by many miles. It would clear all your doubts regarding government taxation and expenditure, whether government spends less or more and how middle class simply exits from the state if state’s role is seen as primarily distributional.
All other chapters are equally great but I found these three very different and interesting.
Some do’s and don’ts
Don’t try to finish the survey or even first volume in one go, read one chapter at a timeYou should read volume one from cover to cover. It’s very interesting and will help you in essay, paper 2, paper 3 as well as paper 4, yes in ethics paperVolume two is not that important. What is to be read from that will be updated tomorrowTake simultaneous notes while reading a chapter, note down important points and doubts and get them resolved in doubts clearing forumMany times, the stuff put in the box have been directly asked in Mains. Do read them properly. But some box are highly technical, for instance first two boxes of chapter one, no need to go into nitty-gritty of them. Just try to understand the basic idea.
These could be the best 150 pages you would ever read for exam purpose. So, don’t wait for the substandard summaries to arrive in the market. You all have ample time before prelims, start reading one chapter a day. You will gain immense knowledge.
Of course, we shall be covering important portions of survey here at CD but you should read the full volume, especially the three chapters I mentioned.
-------------------------------------------------------------------------------------
How to read the Economic Survey - Volume 2
Having already discussed how to best read volume one of economic survey, I shall now discuss, what to focus on and what to leave in the volume two of this amazing document.
Those who haven’t read part one, don’t move ahead without reading part one – How to read the Economic Survey
At the very outset let me tell you that volume two is not that interesting and is full of facts and figures and not much of analysis. Hence only selective reading is recommended.
There are nine chapters in volume two which basically cover happenings in the economy during last one year with some forward guidance. Chapters are pretty longish with most of them crossing 20 pages (only 9-13 pages in volume one).
Chapter one gives broad overview of the economy and glimpses of what to expect from the subsequent chapters. After that there are chapters on fiscal policy, monetary policy, external sector, agriculture, economy and services, climate change and human development. As I have already mentioned, there’s not much of analysis and most of the chapters make for very boring reading and not much important for examination.
There’s only one chapter which I would recommend you to read line to line, for every word is a virtual gold mine and that chapter is chapter eight, climate change and sustainable development. Please note down important points and try to understand the analysis of double counting of aid as climate finance, why CDM market is down and various issues associated with green finance.
What else to study?
As mentioned in the part one, boxes are important. But in this volume many boxes are rubbish. I am highlighting not to be missed boxes, rest you can skim through. Box 1.1, 2,3, 3.2, 3.3, 3.4, 3.5, 4.1(very imp), 4.2, 4.3 (very very imp), 5.1, 5.2, 6.1, 6.2 (very imp), 6.4 (imp), 6.5, 6.6, 7.1 (read), 7.2 (only first part related to medical tourism), 9.2.9.3 Following selected portions are recommended for line to line reading Pathways to productivity in agriculture in chapter five from 5.26 to 5.61,Tourism including medical tourism in chapter seven from 7.25 to 7.29Issue of women employment, unpaid work and care economy in chapter nine from 9.5 to 9.23Draft bankruptcy code on page no. A 4 of statistical appendix
What else is important in volume two?
Authentic data about GDP growth, share of agriculture, industry and services in GDP and employment, savings, investment, gross fixed capital formation, major export and import items, major trading partners etc.
Data is dispersed in the survey so, let us make it easier for you. We will bring to you all the important data at one place as we cover economic survey chapter by chapter. In the meantime, start reading volume one from cover to cover for as I said before, they could be the best 150 pages you would ever read for exam purpose.
Thanks in advance
PS: read economic survey too from start to end
2)is it okay to refer mrunal economy videos if yes when to start ?
1) IC Dhingra.... No idea... have not read... may be others here can help
2) Mrunal: Videos are good. you can watch them. Personally, I am not a big fan of videos, because watching videos is a one way process. Soon, people just lay back and watch videos. But reading books is a two way process where you internalise things faster.