Tips for Indian Economic Services

ISS as well as IES are Central Government Services, engaged in economic planning and analysis through state boards, planning commission and other government owned entities in the country. Out of the various careers offered by the Government Sector, it is an attractive opening to post-graduates in Economics. Candidates who got selected are finally placed in the Planning Commission, Labour Bureau, Central Electricity Authority, Economic Advisers to many ministries, Forward Market Commission, Tariff Commission, Planning Board, Tariff Commission National sample survey and other offices where specialists in Economics are required. An illustrious yet very specialized service where the appointees are giving crucial inputs in the policy making of the financial and economic affairs and also they can go on deputations to different agencies of U. N.

Cadre Strength

500 approx. With around minimum 60 vacancies are lying vacant. Every year vacancies that are available are 6 − 10 which will be based on expenditure commission norms that maximum vacancies to be filled in any year should not exceed the 2% of actual cadre strength. Because of this the requirements are put together and nowadays vacancies for two years are advertised by UPSC to manage the logistic part of organising the exam in an inappropriate way.

Time Horizon of Planning

Atleast Three years is the time horizon so that any person can appear for this exam for minimum twice to give their best. Around 4000 − 4500 candidates appear for this exam because of the eligibility of a Masters in Economics.

The Cadre Management

It is being performed by the Ministry of Finance. A person starts as Assistant Director and can go upto Additional Secretary level in the Government of India. Many RBI governors and other board chairman also have come from this service. Many IES officers also give crucial inputs as economic administrators in the Planning Commission.

Details

2003 Exam: For the interview, the basic criteria is to call 2.5 times the number of vacancies available. In case of 2003 exam for which interview was being conducted in last week of September-October and result was declared on 13th October, 2004 in which Thirteen people were being finally selected.

In 2001/02: The vacancies were 09 − 10. Vacancies however change each year.

The break-up was as follows:

  1. Reserved: 07

  2. Others: 06

Written Examination

In case of the subjects in the written examination, marks that are decided to each subject will be as under where allocation has been changed since the year 2000 with addition of a new paper i.e.. General Economics-I with 200 marks and at the same time, the weightage was bring down for General Studies and General English from 150 marks each to 100 marks each. For the interview, the weightage has been bring down from 250 to 200 marks. Later alterations are going to happen as already a committee under Dr. Vijay Kelkar has given a report on revamping the selection and training and cadre management of the service.

Subject & Max. Marks-

  • General English 100
  • General Studies 100
  • General Economics-I 200
  • General Economics-II 200
  • General Economics-III 200
  • Indian Economics 200
  • Interview 200

English Tips

Generally it is seen that the General English is a full-fledged paper unlike the Civil Services Examination, where language paper is mere qualifying in nature and marks that are obtained will not consider in the final merit, Whereas the marks scored in the General English Paper in this examination forms a crucial part of the aggreggate score of candidate. English Language knowledge plays a unique role in the examination. The General English Paper will covers an essay, precis and other descriptive questions to analyse the candidates comprehension of English Language. Candidates with good basics and command on English Language can do well. Typically, Essay is very important as it is an instrument for judging not only the command over the language but also the intensity of knowledge and expression of the candidate on a given topical essay. The good score is 55 − 65 based on the candidate's proficiency level.

General Studies Tips

Area-wise time division based on last two years papers should be done like polity, economy, general knowledge related to place, person, historical paces and any other general events of importance should must be covered. Candidates who are preparing for the civil services exam will find the GS paper much easier to handle. The questions have word limit and it contains 75 words, 50 words and one sentence along with many 20 words questions. This is a potentially good paper where a candidate can expect upto 75 marks out of 100. Paper-I and II are of prime importance as these papers assist a well-prepared candidate to get a higher percentage of marks. Paper on General Studies includes questions on Constitution of India, History, physical, regional and economic Geography, General Science, national and international affairs etc. Preliminary and basic study of Indian Political System, History and Geography is required. Competition Wizard is an outstanding magazine for Current Affairs. Also regular reading of leading national newspaper like “The Hindu” also proves beneficial in updating ones knowledge of current national as well as international affairs.

Economics Tips

Four papers are on the topic Economics which will carry 200 marks each. First paper is theoretical and consisting of Micro and Macro-Theories. The syllabi of Micro and Micro Economics conform to the syllabi of post-graduate classes in Delhi University and major Central Universities.

While preparing for Paper I of Economics, standard books prescribed at post-graduate level for theory prove very useful. Efforts of the candidates should be to achieve more conceptual clarity, so that even the complicated questions can be solved more easily. The questions in fact, are directed at analysing the intensity of knowledge of the candidates in theory. A candidate must has a clear understanding of the subject can expect to do good in this paper, Like define the law of demand and are straight in asking the answers.

Second paper is of Economics, which covers other allied theories of Economics International Economics as well as Welfare Economics. The syllabus for this paper also cover crucial dimensions of the above disciplines of theory, which are taught at the post-graduate level in any university. The paper also includes some input on basics of statistics. The candidates are expected not to leave any part of the syllabus untouched and should prepare all the aspects in a well detailed manner.

Third paper is of Environmental economics which covers the challenges of Planning, Monetary and Fiscal Theory, Development, while the material for initial two papers of economics is available in a structured form, the preparations required for the third paper on Economy require hardwork and more efforts as given in the book list. Generally the common problem that a candidate faces while preparing for the paper is that even the latest edition of book on Economics does not have the latest updates in it. With presentation as well as analysis of latest developments and updates only one can expect to score good marks. Standard textbooks as mentioned should be regularly followed as per the topics that are given.

The fourth paper is of Indian Economics on Indian Economy which requires:

  • Latest information on Economy is the latest Economic Survey, which is released by the Publications Division, Government of India; every year.
  • Economic Times is a leading newspaper, which keep onself aware of the current updates (Good for Paper-III).
  • Five Year Plan document is must, which provide an insight into the sector-wise five-year targets and performance of the previous plan.
  • Yojana, which is a fortnightly magazine published by the Publications Division is very crucial.

Expect a call for interview if your score is 55% i.e.. e 550 out of 1000 marks.

Discussions & Questions

  • How can I prepare for Indian economics services . Which are classes for it in maharashtra? ( - on ))

    1 Answer

    You must prepare as per the syllabus for Indian economics services and work out the past papers.

    - on