India is now considered as one of the rising super powers in the world. Its has gone leaps and bounds in terms of growth. In fact it can out par China’s growth rate if it keeps pace with the economy. India’s economic growth story is doing rounds around the world which shows that the country is doing really good in terms development of the country. The pace at which India’s growth is phenomenal. This has been made possible only because of the economist at the government hierarchy taking such decision which is leading India to the path of glory and growth.
From time to time government has been hiring brains which are capable of handling voluminous data and yet making full use the data in determining growth driven strategy.
In India Union Public Service Commission holds the Indian Economic Service or Indian Statistical Service exam for recruiting people who can formulate strategies in making a good economic growth prospect for India.
What are the eligibility criteria?
A candidate appearing for this exam must have completed the age of 21 but should not have the crossed the age of 30 otherwise he shall not be allowed to appear for the exam. The government may relax the upper age limit of the candidates appearing for the exam.
Candidates who are appearing for the Indian Economic Service exam must have degree in Post-Graduation in Economics or Econometrics or Applied Economics or Business Economics while candidates appearing for the Indian Statistical Service must have a degree in Statistic or Mathematical Statistic or Applied Statistic from a university recognized by the government.
What is the exam structure?
There exist two phases in which a candidate is selected. The first part consists of written exam phase where a candidate has to appear four conventional papers. There are two common papers in both exam-General English and General Studies.
The paper –I cover a variety of topics from theory of production , theory of demand to
Quantitative methods if economics.
The paper –II covers the macro economic concepts such as the national income theory of employment, money market capital market, labour market and institution which have a great bearing on the world economy.
The paper-III cover the market and planning , public finance etc.
The paper-IV cover the economics of India
Now comes the second part which is the interview phase where the candidates knowledge ability implementation of his knowledge etc are tested and rated on a marks of 200.
How to crack the exam?
Well when you see the paper structure itself it seems that it has a vast coverage. So one must get his basic concepts in economics such as the national income, GDP concept, Government multiplier like concepts clear.
There are coaching centre who cater to needs of candidates who prepare for such exam so the best option is to go for such coaching as economics is a a very vast network and lone study cannot help one make the complexity if this Indian Economics system.
But having a good knowledge of the economic situation of India is necessary because small issue can create big problem for you. So always be aware of what is going in the Indian economy and the reason behind such changes as question might be put based on reasons both in the written exam and interview. So read business magazine and business newspapers daily so that you get latest news of the market.
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