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LE.S./L.S.S. Examination, 2026 SNCS-D-GNM
INDIAN ECONOMICS
Time Allowed : Three Hours Maximum Marks : 200
QUESTION PAPER SPECIFIC INSTRUCTIONS
Please read each of the following instructions carefully
before attempting questions
There are SIXTEEN questions divided under THREE Sections.
The ONLY question in Section—A is compulsory.
In Section—B, SIX out of NINE questions are to be attempted.
In Section—C, FOUR out of SIX questions are to be attempted.
Candidates should attempt questions/parts as per the instructions given in the Sections.
The number of marks carried by a question/part is indicated against it.
Candidates are required to write clear, legible and concise answers and to adhere to
word limits, wherever indicated. Failure to adhere to word limits may be penalized.
Attempts of questions shall be counted in sequential order. Unless struck off, attempt of
a question shall be counted even if attempted partly.
Any page or portion of the page left blank in the Question-cum-Answer (QCA) Booklet
must be clearly struck off.
Answers must be written in ENGLISH only.
SNCS-D-GNM/81 1 [ P.T.O.
=
( Compulsory Section )
1. Answer all six parts from this Section. Answer to each should be in about
100 words : 5x6=30
(a) Write down three major strategies used for correcting the Balance of
Payments (BoP) crisis in recent period. 5
(b) What are the main features of India’s Foreign Trade Policy, 2025? 5
(c) What are the measures undertaken by the Government of India to
counteract black and parallel economy? 5
(व) What are the reasons for low Human Development Index (HDI) despite higher
GDP in India? 5
(e) Mention three merits and demerits of inflation measured by Wholesale
Price Index (WPI) and Consumer Price Index (CPI) in India. 5
() How does competition policy address the issue of predatory pricing
in India? 5
SECTION—B
Answer any six questions from this Section. Answer to each should be in about
200 words : 15x6=90
2. Do you think that Multidimensional Poverty Index (MPI) estimated by the
NITI Aayog is a better measure than the poverty measure proposed by the
Rangarajan Committee (2014)? Give reasons. 15
3. How does the ‘Skill India Mission’ ensure the opportunities of demographic
dividend? Analyze critically. 15
4. (a) Identify the objectives in fixing agricultural prices in India. 10
(b) Examine the feasibility of legal guarantee of the Minimum Support Price (MSP)
in Indian agriculture. 5
5. What is the policy framework of urban development strategies in India? Critically
evaluate its role in the context of inclusiveness and sustainable development. 15
SNCS-D-GNM/81 2
= (a) Examine the determinants of rural to urban migration in India. 8
(b) Write down the possible consequences of reverse migration during COVID-19
pandemic in India. 7
7. What are the key features of International Labour Standards (ILS), 2026? Discuss
the effectiveness of ILS to protect workers’ rights in India. 15
8. (a) Write down the key features of urban labour market in India. 8
(b) How do the new labour laws implemented in 2025 address the problem of
decent work deficit in India? 7
9. Evaluate the relative efficacy of fiscal and monetary measures used in India for
controlling inflation. 15
10. What are the major problems of rural credit in India? Critically examine the steps
undertaken by the Government of India to facilitate rural institutional credit. 15
SECTION—C
Answer any four questions from this Section. Answer to each should be in about
300 words : 20x4=80
11. Evaluate the consequences of plan-based and market-based development strategies
in India. Do you think that the post-reform strategies ensure equity and social
justice? Give reasons. 20
12. Write down the key recommendations of the 16th Finance Commission of India.
Compare the criteria for devolution of fund between the 15th and 16th Finance
Commission of India. 20
13. Discuss the salient features of Pension Reforms in India. Examine the rationale
for New Pension Scheme in India from the point of view of demography and fiscal
consolidation. 20
14. Critically evaluate the key reforms of India’s public debt management structure.
How do the reforms minimize the borrowing costs of the State and Central debts? 20
SNCS-D-GNM/81 3 [ P.T.O.
15. Write down the key differences pertaining to India’s trade policy between pre- and
post-reform era. How and why does current foreign trade policy protect India’s
agricultural sector? 20
16. (a) What are the major differences between spot and future markets in India? 5
(b) Discuss critically the regulatory framework for future and forward markets
in India. 10
(c) Why did the Government merge the Forward Markets Commission (FMC)
with the Securities and Exchange Board of India (SEBI)? 5
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SNCS-D-GNM/81 4 26BS—4320
