This article discusses how to prepare for the economy component of the Non-Gazetted Services Joint Prelims Exam. The course of the economic component is prescribed as follows
a) Indian economy – national income, agriculture, industry, foreign trade, banking, population, poverty and unemployment, monetary and fiscal policy etc.
b) Government Economy – Budget, Accounting, Audit, etc.
We’ll see how to prepare issue-wise.
National income, foreign trade, monetary, banking and fiscal policy:
The basic concepts related to national income should be well understood. It is important to understand the difference between gross domestic product (GDP) and gross national income (GNP) and know the updated data.
Key partner countries in India’s foreign trade, countries or organisations that import the most, goods with the highest value/share in imports and exports can be studied in table format. It would be nice to be able to compare the key aspects of this with last year’s figures. For this, look at the cases in that year’s Economic Survey report.
