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                          45 Days Strategy for 
                Economics UPSC CSE 2020 
                                                By  
                                    Jatin Verma 
                                                     
                                      “Never fail to plan. 
                                   Unless you plan to fail.” 
                                                     
                                                     
     ©Jatin Verma All Rights Reserved.                                                                                          https://www.jatinverma.org 
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                                  Do’s and Don'ts 
            
             Do’s                            Don'ts 
            
              Approach  the  subject  with   Assume  Economics  is  only 
               an open mind                     for the intelligent 
            
              Focus     on     conceptual    Mug the concepts 
               understanding                  Focus on Microeconomics 
            
              Macroeconomics           is    Read  only  current  affairs  
               sufficient                       without reading static 
            
              Link  static  concepts  to     
               current affairs     
            
           Economy weightage in UPSC Prelims 
                                                                 Year   No. of 
                                                                        Question  
                                                                 2011   19 
                                                                 2012   13 
                                                                 2013   15 
                                                                 2014   10 
                                                                 2015   13 
                                                                 2016   18 
                                                                 2017   08 
                                                                 2018   16 
                                                                 2019   14 
            
            
    ©Jatin Verma All Rights Reserved.                                                                                          https://www.jatinverma.org 
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           Sources 
                                          th
           1.  NCERTs - 9th, 10th, 11th and 12   (Avoid Microeconomics ; In 
              Macroeconomics, avoid equations) 
           2.  Ramesh Singh - Limited chapters 
           3.  Newspapers - The Hindu (most important ) 
           4.  Budget and Economic Survey 
           5.  Press Information Bureau(PIB) 
            
           Previous year question 
           2017 
           Q.  
           1.  National Payments Corporation of India (NPCI) helps in promoting financial 
              inclusion in the country. 
           2.  NPCI has launched RuPay, a card payment scheme. 
           Which of the statements given above is/are correct? 
           a.  1 only 
           b.  2 only 
           c.  Both 1 and 2 
           d.  Neither 1 nor 2 
            
           Answer: C 
           The National Payments Corporation of India (NPCI) functions to operate retail 
           payments  and  settlement  systems  in  India,  for  creating  a  robust  Payment  & 
           Settlement Infrastructure and promote financial inclusion in India.  
           In 2012, NPCI launched RuPay card scheme to fulfil the Reserve Bank of India's 
           (RBI) vision to have a domestic, open and multilateral system of payments. 
           Thus, both the statements are correct. 
           Analysis: Mixture of statements 
           Statement 1 static based 
           Statement 2 current affairs based (2016 , because of BHIM) 
            
            
     ©Jatin Verma All Rights Reserved.                                                                                          https://www.jatinverma.org 
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       2018 
       Q. Which one of the following best describes the term "Merchant Discount 
       Rate" sometimes seen in news? 
       a.  The incentive given by a bank to a merchant for accepting payments through 
         debit cards pertaining to that bank.  
       b.  The amount paid back by banks to their customers when they use debit cards 
         for financial transactions for purchasing goods or services.  
       c.  The charge to a merchant by a bank for accepting payments from his customers 
         through the bank's debit cards.  
       d.  The incentive given by the Government, to merchants for promoting digital 
         payments by their customers through Point of Sale (PoS) machines and debit 
         cards. 
        
       Answer: C 
       The Merchant Discount Rate (MDR) is the rate charged to a merchant for payment 
       processing services on debit and credit card transactions. 
       Analysis 
       Current Affairs Based ;  demonetization  
        
       2017 
       Q. The term ‘Domestic Content Requirement’ is sometimes seen in the news 
       with reference to- 
         a.  Developing solar power production in our country 
         b.  Granting licences to foreign T.V. channels in our country 
         c.  Exporting our food products to other countries 
         d.  Permitting foreign educational institutions to set up their campuses in our 
          country 
       Answer: A 
        
       The policy of Domestic Content Requirement is intended to promote the local 
       manufacturing of the components of solar generation equipment which includes 
       the cells and modules. 
       Analysis 
       Previous year Current Affairs Based 
        
   ©Jatin Verma All Rights Reserved.                                                                                          https://www.jatinverma.org