StudyIQ Abhyaas: Daily Answer Writing Practice 20 September 2023

Q) “India is a mixed economy, with elements of both market and socialist economies. Explain. (10 marks, 150 words)

भारत एक मिश्रित अर्थव्यवस्था है, जिसमें बाजार और समाजवादी दोनों अर्थव्यवस्थाओं के तत्व मौजूद हैं। स्पष्ट कीजिये।“

Demand of the Question– The question demands understanding of basic economical ideologies and Indian concept of mixed economy.

Directive Word– Explain- This keyword demands describing the details of both ideologies and how it relates to the Indian economy.

Structure of the Answer

Intro- Start by stating what are the characteristics of a mixed economy as in the case of India.

Body- In two separate parts, list and explain the elements of market and socialist economies. And in the second part, explain which and how the above elements are present in the Indian mixed economy.

Conclusion- State the importance and the reasons why the Indian economy is a mixed economy.

Part of Syllabus– GS paper 3- Indian Economy and issues relating to planning, mobilization of resources, growth, development and employment

Q) With the help of examples from the Indian economy bring out the impact price rise on inferior and luxury goods and necessities. (10 marks, 150 words) 

भारतीय अर्थव्यवस्था के उदाहरणों की सहायता से घटिया और विलासिता की वस्तुओं और आवश्यकताओं पर मूल्य वृद्धि के प्रभाव को सामने लाएँ।

Demand of the Question– This concept demands understanding of inflation and its effect on various types of goods and on various sections of society.

Directive Word– Help of examples & bring out impact- These keywords demand explaining the concept with the help of examples.

Structure of the Answer

Intro- Describe what inflation is and use RBI data stating its current scenario. Link it with the effects on various types of goods and services.

Body- In part one, take 3 examples, 1 from each luxury and inferior goods and necessities, and discuss these in 2 cases- without inflation and with inflation. In the second part, a small discussion about the impact of inflation on users of these goods, covering the impacts on various strata of society.

Conclusion- State how inflation affects/hinders development and growth. Mention that RBI controls it and how it controls it. Conclude by stating that the right amount of inflation is desirable.

Part of Syllabus– GS paper 3- Indian Economy and issues relating to planning, mobilization of resources, growth, development and employment.

Q) What is digital public infrastructure (DPI)? How will it help in India’s economic growth? (10 marks, 150 words)

डिजिटल पब्लिक इंफ्रास्ट्रक्चर (DPI) क्या है? यह भारत की आर्थिक वृद्धि में कैसे मदद करेगा?

Demand of the Question– The question demands a clear understanding of Digital Public Infrastructure, its importance in growth of economy, challenges in management and protective measures required.

Directive Word– What- It is a direct keyword demanding concept and definition. How- demands reasons linking how DPI can help  or hinder economic growth.

Structure of the Answer

Intro- Mention what DPI is, its definition and what are some examples of it. Link its usage in the Indian economy.

Body- Mention the reasons how DPI is helpful in promoting growth of the Indian economy. Provide examples of such infra that are currently helping. In the second part mention what are the challenges in managing, implementation and execution of the DPIs.

Conclusion- Mention its importance and suggest measures to protect and enhance it.

Part of Syllabus– GS paper 3- Indian Economy and issues relating to planning, mobilization of resources, growth, development and employment

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