Paper Analysis - RBI Grade B Economics and Social Issues

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In this article Economic and Social Issues paper (1st of phase 2) is discussed.

“The questions are taken from various internet sources and after talking with some of the candidates who have given the test. Contingent to that some questions are missing.

Further, we will full analysis of all paper once we are finished with interview preparation of our current students

In this paper, one thing which must be kept into mind is that this paper is not just about economics but also about Social Issues. So we need to go up to an optimum level (neither too shallow nor too deep). The structure of this article is as follow:

  1. Analysis of ESI paper of Phase II
  2. Major insights which can be drawn from the analysis
  3. Segregation of RBI grade b syllabus on basis of topic. This will help in chalking out of study plan.
  4. Study plan which should be followed

Background

RBI Grade b recruitment process consists of three phases.

However, this time there was around 30 days window between phase 1 and Phase 2 due to due to Kerala flood. Generally, there is usually 15 days window between these two phases. Therefore Exam preparation for Phase 1 and Phase 2 should be done simultaneously. Initially, the major focus should be on Phase 2 and then the focus should shift to Phase 1 prior to 3-months of Phase 1 Examination.

RBI grade B Exam Pattern for Phase-II Paper is as under.

RBI Grade B ESI Paper Analysis

The segregation of questions on basis of marks per question can be done as under:

Particulars Number of Questions Marks per question Total Marks
2 marker Questions 35 2 70
1 marker Questions 30 1 30
Total 65   100

For 2-marker questions, passages were provided, which helped in setting the perspective for the questions and then questions were asked related to that. It should not be considered the answers are hidden in the passage. The passage is there just to set the perspective.

Segregation can be done in two ways

  1. On basis of Topics (as per given by RBI notification)
    1. Growth and Development (G&D)
    2. Economic Reforms in India (ERI)
    3. Globalization
    4. Social & Political (S&P)
  2. On basis of nature of question
    1. Static
    2. Current

RBI Grade B ESI topics

Classification on basis of topics can be done as under:

Figure 1: Question Distribution

Figure 2: Marks Distribution

  

Figure 3: Marks Distribution

Contrary to earlier years trend, this time Static portion is having higher weight age. However, it should be pointed out that for analysis of this paper any schemes/news which is older than 1 year is considered part of Static. But there are many questions about old schemes but they were in news due to some or other reasons. Crux of the matter is anything which appeared in news, its background/history need to be known.

Further many of statistics and Current questions are some way or other is related to Economic Survey or Budget. One piece of advice you should have to through Economic Survey (if not full then selectively) and budget, with a full background of things mentioned there.

Further division on basis of the type of question:

What Lesson Learned from above analysis

  1. Increasing Unpredictability. RBI Grade B is also following the steps of UPSC by making paper as unpredictable as possible. If we compare this paper with last years’ paper, we can see RBI inclination towards static part/old schemes. Also, many of basic theoretical economics also asked which is not so much appeared in the previous paper. So

Prepare as vast as possible with thorough understanding of background of things which is in news for last one year

  1. Economic Survey and Budget are important. Economic Survey & Budget is necessary to cover along with that government website should also be referred time and time again. One thing which should be mentioned, just reading the ES&B or government website will not suffice the purpose. You have to understand ES&B thoroughly and have to get the background of things mentioned in the government website.

We believe it is very interesting part of your preparation but it is also one of the most laborious task but enjoyable.

Annexure:

Detail Questions

Economic Reform in India

1-Marker

1.     The outlay for some scheme in the budget

2.     According to budget, how much fund is used out of a total 100 billion exports of agriculture

3.     Lowest rank in state ease of doing a business ranking

4.     Who developed EoDB India along with DIPP

5.     What is the objective of fiscal policy

6.     Questions on monetary policy

7.     UPI in India is implemented by

2-Markers

Paragraph on   Budget speech of finance minister – FRBM act

8.     Head of the committee on FRBM act?

9.      Which of the following should be adhered to the govt ? (Fiscal deficit)

10.                         Debt to GDP as per the committee

11.                          Objective of FRBM act

12.                          Which of the following are the objective of SEZ

Growth and Development

1 Marker

  1. Data used to compute GDP of an economy?
  2. What is the full form of NDP?
  3. Define cross elasticity of demand
  4. Combination of demand pull and cost-pull inflation is named as what
  5. The objective of hriday scheme
  6. Economic survey growth projection
  7. Poverty gap definition
  8. Budget allocation for infrastructure
  9. Define GDP
  10. WPI base year
  11. Few statements were given and asked which are correct about national income
  12. Asked about something which depends upon liquidity in market

2 Markers

Paragraph on CSO- Annual national income estimates report

  1. Which organization released this report
  2. What at current prices are estimated to be Rs 165 crore
  3. How is per capital income computed

Globalization

1-Markers

  1. Which of the following organizations was created in 1945 for trade production and poverty reduction?
  2. Definition of social globalization
  3. SDG to be implemented by the year
  4. Who gives Human development report

2-Markers

A paragraph on IMF report on Article 4- RBI

  1. Which rate is talked about in this report
  2. What is the repo rate
  3. Which of the following is the reason for Macro Economics Challenges?
  4. Which organization released this report?

Social and Political

1- Markers

  1. Which state started a household survey for multi-dimensional poverty

Paragraph regarding Scholarship schemes for Diaspora children

2- Markers

  1. Questions regarding discipline not covered in India universities for intended beneficiary
  2. Online portal of the same
  3. Feature of the scheme
  4. Identify the scheme

Paragraph regarding Janani SHishu Suraksha Karyakaram

  1. Identify the scheme
  2. Special benefits is given to sick children upto what age
  3. Benefit Given to mothers
  4. Scheme was launched in which district

Paragraph on Swarn Jayanti Gram Swarozgar Yojana

  1. Identify the scheme
  2. Which organisation implements this scheme
  3. Features given, identify the correct one
  4. Objective according to the passage

Scheme of Grant-in-aid to voluntary and other organisations working for scheduled caste

  1. Identify the scheme
  2. Which ministry implements the scheme
  3. Objective
  4. Features given choose the right one