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#UPSC Personality Test 2021 : How To Revive The Ravaged Economy And How Realistic Is The $5Trillion Economy Dream?

Image : Representational Purpose Only
Image : Representational Purpose Only

Indian economy is in dire straits and the COVID-19 Pandemic has brought with it host of other issues. The pandemic has ravaged the economy and it needs  more concrete action on the ground  and not rhetoric to revive.  The government has visualised a  unrealistic goal of USD 5 trillion economy and a  aim to  become  a global economic powerhouse by 2024-25 . Will it happen only time will tell.  So Civil services hopefuls can expect host of queries on the state of the Indian economy.

1. What is asset monetization and how is it different from privatization? Is it only a resource mobilisation measure or something more?

2. What is the the basis or rationale of ” privatization”? Is it a ” reform measure” and if so what are the objects ?

3. What do you think of the over all performance of the private corporate sector in the economy?

4. What are the objects of the proposed privatization of some Public sector Banks ( PSB) and what are the arguments for and against this move?

5. what caused collapse of Yes Bank and PMC Bank ( Punjab Maharashtra Coop Bank) and what are the lessons for the future?

6. What is NPA and the size of NPA of Banks and reasons for the same ?what is Prompt Corrective action -PCA ?

7. What are the reasons for the growing incidences of ” bankruptcies and insolvencies”of companies? What are the objects of Bankruptcy and Insolvency Code? Why is this Code viewed as a part of EDB- Ease of doing business policy? Please elaborate.

8. What are the reasons for good performance of agriculture and allied sectors in 2019-20 during the Pandamic? And what should be done to sustain the growth momentum?

9. Though MSP for several crops are announced every year by the Government why only Rice and wheat are procured by the state agencies ? What are the grievances and problems of Sugarcane growers in this regard? ( This is a question the aspirants from North India could be asked) And in what way MSAP – Minimum Support Assured Price announced for Sugar cane is different from MSP? What is your view on this subject?

10. What is the role of MSME sector in the economy and especially in employment generation? What measures have been taken by the government to revamp the sector? What is the role and performance of MUDRA initiative in this field? What is the national MSME sector Development strategy?

11.What is e nam – Pan India Electronic trading platform and how is helpful to the farmers? Do you think you that it could help the farmers to get better price for the farm produce than the present arrangements?

12. Doubling the farmers income has been an object of the government . How could this be realised for the small and marginal farmers who constitute the majority of the farmers ?

13. What is the ruling international price of crude oil per BBL and why is it important for our economy? What causes fluctuations in crude oil prices ?What is the extent of our dependence on the imported oil and gas? What measures have been taken to reduce our dependence on imported oil and gas?

14. What are the reasons for recent hike in oil and gas prices and what is its impact on the economy?

15. What is the role of WTO in the present Covid 19 situation in promoting global trade and development?

16. What are the components of Joe Biden’s $ 1.5 Trn stimulus package?

17. What are the components of the stimulus package of the govt of India to deal with the economic fall out of the Covid 19 situation? Are these measures adequate and yielding results?

18. Discuss the reasons for the government decision to raise the limit of Foreign Direct Investment from 49% to 74% and its likely impact?

19. What is the role of the New Development Bank (Brics Bank) in funding development program and Shanghai Cooperation Organization( SCO ) in Asia? Do you see a reduced role of the Asian Development Bank because of entry of NDB ?

20. What are the main grievances of the states in regard to the Implementation of GST? How effective is the existing mechanism for resolving such issues?

21. What are the main recommendations of the 15th Finance Commission for devolution of funds to the states and what is the criteria adopted by the Commission ?

22. The government has a goal of attaining a 5 trillion dollar economy and global economic powerhouse by 2024-25. Is this target realistic or this  slogan a mere rhetoric ?

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