All You Need to Know About Indian Economic Services- Guide To All The Aspirants
Every government requires certain committees, departments, and ministries to plan, administer, develop, and implement policies for the country. In a rapidly globalizing country, the need for a decision-making committee is increasing which is guided by economic rationality. This is where the Indian economic services officers come.
Basic Roles and Responsibilities:
Their duties include all these aspects, they not only handle the development, planning, administering, and implementation of economic policies but also contribute towards the decision making in the social sectors that are apart of the economic sector.
They are the economic advisers to the departments and ministries in all policy-related matters on all internal and external management decisions.
They are closely associated with and involved in the economic reforms in the department or ministry to which they are posted.
They work not only for the internal government ministries or departments but also for international organizations like the United Nations, foreign governments, and other regulatory bodies.
About the Indian Economics Exam:
The Indian Economics Services exam is conducted for the recruitment of Junior Time Scale of the Services will be held by the Union Public Service Commission in accordance with the rules published by the Ministry of Statistics & Programme Implementation in the Gazette of India.
Indian economic services is the gateway to the central service as a Group A officer.
Aspirants who successfully pass Indian economic services examination are placed in various cadre posts in the ministry of economic affairs, planning board, planning commission, national sample survey and other allied departments or ministries where specialists in economics and statistics are required.
The Indian economic services exam is conducted once a year by the United Public Service Commission. A maximum of 6 attempts are given to a single candidate.
Eligibility Criteria for The Indian Economic Service Exam:
As the people who score the marks above the cutoff are recruited on important levels of the government and thus the eligibility criteria of the exam is strict.
The eligibility criteria for the Indian economic services exam is as follows:
- The candidate should be a citizen of India
- Or the subject of Nepal
- Or the subject of Bhutan
- Or refugee of Tibet, who came over to India before January 1, 1962, with the intention of permanently settling in India
- A person of Indian origin, who has migrated from Pakistan, Burma, Sri Lanka or East African Countries of Kenya, Uganda, Zaire and Ethiopia, the United Republic of Tanzania, Zambia, Malawi, or from Vietnam with the intention of permanently settling in India.
Note: the person belonging to every category except the citizen of India should possess a certificate of eligibility issued by the government of India.
- A candidate in whose case a certificate of eligibility is necessary may be admitted to the examination but the appointment offer may be given only after the crucial eligibility certificate has been issued to him or her by the Government of India.
As far as the Indian Economic Services criteria for the educational qualification are concerned the IAS exam requires the following requirement:
- The people applying for the Indian Economic Services exam are required to have a post-graduate degree in economics, applied economics, business economics or econometrics from a recognized university or by a foreign university approved by the central government.
The Indian Economic Services exam has a specific age limit required for the candidates which are as follows:
- The candidates applying for the Indian economics services exam must have attained the age of 21 years and should not be more than 30 years. This means he/she must have been born not earlier than August 2, 1990, and not later than August 1, 1999.
However, the reserved category has the following relaxations in the age limit for the exam:
- A candidate from a scheduled caste or a scheduled Tribe has relaxation for 5 Years.
- A candidate from other Backward Classes has relaxation for 3 Years.
- A candidate has ordinarily been domiciled in the Union territory of Jammu & Kashmir during the period from January 1, 1980, to December 31, 1989, have relaxation for 5 Years.
- In the case of Defence, Services Personnel disabled in operations during hostilities with any foreign country or in a disturbed area and released as a consequence thereof is given a relaxation of up to 3 years.
- In the case of ex-servicemen including Commissioned Officers and ECO/ SSCO who have rendered at least five years Military Service as of August 1, 2020, is given a relaxation of up to 5 years.
- In the case of (1) blindness & low vision, (2) deaf & hard of hearing, (3) locomotor disability including cerebral palsy, leprosy cured, dwarfism, acid attack victims and muscular dystrophy, (4) autism, intellectual disability, specific learning disability, and mental illness, (5) multiple disabilities from among people under clauses (1) to (4) including deaf-blindness is given relaxation up to a maximum of 10 years.
Exam Pattern of The Exam:
The exam pattern of the Indian economic services exam is quite different from the other government exams. If want to know about it take a look at the below information:
The written exam of 1000 marks in total. The distribution for which is given below.
- General English for 100 marks of 3 hours
- General studies for 100 marks of 3 hours
- General economics1 for 200 marks of 3 hours
- General economics2 for 200 marks of 3 hours
- General economics3 for 200 marks of 3 hours
- Indian economics4 for 200 marks of 3 hours
- Round 2 consists of Viva-voce or Interview of 200 marks.
Syllabus for the Indian Economic Services exam:
The syllabus for the Indian Economic Services exam is given below:
For General English Section:
- Essay Writing
- Understanding of English language and vocabulary
- Summary or Precis Writing
For General Studies Section:
- General Knowledge
- Current Events or Affairs
- Indian Polity
- History of India
- Geography of India
For General Economics1 Section:
The topics related to:
- Theory of Consumer’s Demand
- Theory of Production
- Theory of Value
- Theory of Distribution
- Welfare Economics
- Mathematical Methods in Economics
- Statistical and Econometric Methods
For General Economics2 section:
The topics related to:
- Economic Thought
- Concept of National Income and Social Accounting
- Theory of employment, Money, and Finance Output, Inflation:
- Financial and Capital Market
- Economic Growth and Development
- International Economics
- Balance of Payments
- Global Institutions
For General Economics III section:
The topics related to:
- Public Finance
- Environmental Economics
- Industrial Economics
- State, Market, and Planning
For Indian Economic section:
The topics related to:
- Federal Finance
- Budgeting and Fiscal Policy
- Poverty Unemployment and Human Development
- Agriculture and Rural Development Strategies
- India’s experience with Urbanisation and Migration
- Foreign Trade
- Money and Banking
- History of Development and Planning
The Indian Economic Exam is however a tough one to crack but the opportunities, growth, and exposure one gets after cracking the exam is very wide and thus is worth studying for. It enables a person to serve the country by making and planning economically rational policies, by administering the economic aspects of any policy or agreement, and by implementing the policies and plans.
One has to be as sharp with their concepts as with the practical applications of the theories, only then one will be worthy of working with the concerned ministries or departments.
The exposure of cracking this exam is not just up to just working with the ministers, one can grow to become the financial secretary of the government of India, up to the most prestigious international organizations like the United Nations.