GS SCORE Economic Survey 2019-2020 Volume-2 PDF

The Summary of Economic Survey 2019-20 is a vital source for the UPSC exam, especially for the subjects Indian economy, polity, as well as, government schemes.. It’s aimed at helping for the aspirant preparing for UPSC IAS Prelims 2020.

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The Economic Survey of India is an annual document released by the Finance Ministry, Government of India. It is a very important document from the UPSC exam perspective. This article will discuss in detail the Economic Survey, highlights of Economic Survey 2020 and its importance in the UPSC and other government exams. Importance of Economic Survey The Economic Survey is a vital source for the UPSC exam, especially for the subjects Indian economy, polity, as well as, government schemes.

• The Economic Survey discusses all the major government initiatives with explanations. All the dynamic and theoretical questions can be traced to this.
• As per the new trend, the economy and the environment are going hand in hand. So questions can come from that perspective also.
• Students can imbibe actual phrases used in the Economic Survey to frame answers for UPSC Mains Examination.
• The Survey analyses and gives reasons for many issues happening around. Deep knowledge of the current policies and programs of the government also helps an aspirant to write meaningful essays.
• Furthermore, the issues appraised in the Economic Survey and reforms suggested are often implemented by the government in the future initiatives. A good example of this would be the Direct Benefit Transfer (DBT), which was suggested in previous Economic Surveys and has been implemented by the government.
• Good phrases from the Survey and use of appropriate language can be used in the exam to fetch a high score. For example – “Good economics is good politics”, “twin balance sheet problem”, “translating potential into actuality” “ Chakravuyh challenge”, etc.
• Adding important and relevant facts and figures significantly boosts marks in General Studies Paper-III.
• Students should not miss reading the Economic Survey if they wish to clear the UPSC Prelims, as many questions are seen to be directly taken from this document.

How to read Economic Survey for UPSC?

Pattern of Economic Survey The Economic Survey consists of two volumes:

1. Economic Survey, Volume I: Deals with conceptual and analytical issues.
2. Economic Survey, Volume II: Deals with the state of economy and sectors of the economy in some detail with more focus on immediate issues and statistics.

Tips to read the Economic Survey:

• Read after a basic study: Students should have a basic understanding of economics, especially the basic terms like GDP, inflation, fiscal drag, etc. before moving on to studying the Economic Survey.
• Read the Preface thoroughly: The Preface of the Economic Survey is like a summary of the document. Reading it will help you get an essence of what is inside and help you understand it better.
• Boxes and Arguments: The document contains many boxes which are particularly important for the UPSC exam. From here, questions have been asked directly. In addition, the data can be used to augment and support your answers. The Survey also gives arguments such as why a scheme or initiative is important, how it can be bettered, and also recommendations, which can be used in the mains answers.

Break into small topics: If you think reading the Economic Survey is overwhelming, it can be covered easily by breaking into smaller topics. You can categorise the content in the Survey into topics such as welfare schemes, macroeconomic tangibles and demographics, agriculture, urbanisation, social empowerment, figures (like unemployment data, GDP, inflation, food inflation, fiscal deficit, current account deficit, the balance of payments, foreign reserves, trade balance, etc.

If you are a beginner for this UPSC field, We recommend you to know deeply about UPSC Prelims and UPSC Mains and also UPSC Optionals for better Understanding the UPSC CSE Examinations.