ECONOMICS PAPER 2

Economics Paper 2 has a great overlap with GS3 and Indian Economy forms the core of UPSC Mains and Interview. However this section involves many data and facts that is to be remembered. Thus it is advisable to prepare crisp notes with examples and data for every topic.

# READINGS

1. Mishra and Puri (updated version)

• The base reading for Indian economy. Just go through the segmentation and structure of the entire economy they have done.
• The content and the facts given in the book is not satisfactory. Thus it is only a base reading for getting the hang of various dimensions of Indian economy and various sub sections into which every topic can be divided.
• The book has many a times a very general explanations and reasoning to various topics. Thus while preparing notes, keep some blank spaces so that some relevant and specific points can be added later on from Economic Survey or newspapers for that particular topic.
  For eg: If the topic is Reasons for agricultural distress in India,   the pointers in Mishra and Puri would be very general. You can collect much better and contemporary answers from Economic Survey and Hindu/Mint/IE editorials for the same.
• Once M&P is done, towards the end stage of preparation, you can look at Uma Kapila and pick up pointers for various topics which are missed in M&P and add on to your notes.

2. Economic Surveys ( last 2 years)

• Once the basic structure of  Indian economy is learnt, add on to your notes relevant points from Economic Surveys.
• Try quoting ES extensively in answers.

3. Vision Mains 365 - Economy (last 2 years)

• Covers topics more extensively than Economic Survey and thus a primary resource of Current Affairs related to Indian Economy. 

4. Mint (or Livemint if online)

• Articles are very informative and very relevant from the examination perspective.

5. For Pre- Independence section

• Refer attached Notes and
• Refer the specific topics from The Economic History of India by Tirthankar Roy

# HOW TO ATTEMPT THE ANSWERS ?

• Write answer point wise and at least 5 points for every aspect asked.

• Give reference to the Economic Survey or Papers or Economists, Committees as much as you can, Use Quote and Current Events.

• Real life economic examples and case studies should be incorporated for gaining extra marks.
  eg: Writing about NPA -> Kingfisher airlines bankruptcy and wilful defaulter
  Writing about Corporate governance -> Satyam scandal etc

• Your answers should give the feel of the style of the paragraphs of Economic Survey.
• Also if any economic theory from paper 1 can be incorporated - please incorporate them too.
  eg: Kuznet curve while writing about inequality, Lewis model while discussing structural transformation

• Attempt the 15-20 markers first and then shift to 10 markers to ensure in case of time mismanagement, it is the 10 markers that is compromised. 

• Try making flowcharts and diagrams to cut space and improve presentation.

# NOTES 

• It is recommended that you only see the notes to have an idea and then prepare notes in your own words.
• It is recommended that you follow the notes in OneNote format and not in PDF format because it is more structured in OneNote and I can be updated with ease.
• These notes are not substitutes for primary readings. These are only add-on for revision.

> PDF Format 

# PRE INDEPENDENCE AND ECONOMIC HISTORY

# VAKIL, GADGIL, RAO

# INDIAN ECONOMISTS

# AGRICULTURE

• Agriculture: Part 1
• Agriculture: Part 2

# BANKING AND FINANCE

# EMPLOYMENT

# INDIAN GROWTH

# INDUSTRIES AND SERVICES

# INVESTMENT MODEL AND INFRASTRUCTURE

# PLANNING IN INDIA

# LPG REFORMS

# PUBLIC FINANCE IN INDIA


> ONENOTE




# SAMPLE ANSWERS FOR ECO 2
 Will update some model answers soon for Paper 2. 

From previous toppers:

• Gaurav Agrawal : https://thesupermanreturns.wordpress.com/2014/06/26/eco_optional/
• Abhimanyu Gahlaut: https://reluctanteconomistblog.wordpress.com/econ-optional/
• Abhijeet Sinha: https://abhijeetsinhaupsc.wordpress.com/