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P a g e | 1 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 P a g e | 2 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 P a g e | 3 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 P a g e | 4 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
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