IFOS-2014 Mains(Economy)

  1. Discuss the objectives of Prime Minister’s Jan-Dhan Yojana. What challenges do you foresee in its implementation?

Objectives of Prime Minister’s jan-Dhan Yojana

1. To achieve Financial Inclusion to eradicate poverty.

2. To provide reliable life-Insurance to every citizen of the Country- Making Insurance a right of the citizen.

They were the following concerns to be looked at,

1. Financial Services included were very restrictive, financial inclusion includes services too. Insurance and the debit card are the 2 services covered under this scheme.

2. The Insurance were for only “Active Rupay Card holders“, a card will be considered active if the card holder has swiped it within 45 days of making a claim. The NPCI(Rupay) is in talks with HDFC Ergo to improvise the scheme so that the claim can be made if the card was swiped within the preceding 90 days(in talks). We cannot expect a card holder under BPL or just above BPL to use his card monthly.

3. It is an assumption that poverty can be eradicated with bank accounts, bank accounts are for holding money safe and saving his/her earnings. If there are no earnings, there are no savings and finally no use of opening an account. So Eradicate Poverty first, people will invest or seek services later. ” Poverty First, Hype Next”.

Read More: Go Prep Articles


2. What are the reasons for persistent high rate of food inflation in India?

For a mixed economy like India, Food inflation cannot be dealt in Isolation.

Food inflation can be determined from supply and demand side.

Even the crude oil, which depends on international markets can affect food inflation.


Crude Oil affects Fertilizers and Fertilizers affect cost of production which finally affects prices in the market.

For demand Side, we can take the example of regional foods. Or As the demand increases prices increases, simple economics.

Reasons can be among the following,

Deficit Rainfall

No investment for food storage houses.

Food Economy is majorly dependent on Domestic production.

Virtual demand created by the private people.

Read More on Why is Recent Food Inflation in India so Persistent?


3. Explain demographic dividend and its relevance to India.


Mostly between 20-30 years

read More on Current Debate on Demographic dividend in India


4. Discuss the recommendations of Rangarajan Panel on the estimates of poverty in India.

Recommendations of Rangarajan panel on the estimates of poverty in India.

(Discuss means what we feel on the recommendations, our view has to present just quoting recommendations is almost equal to leaving the question blank.)

  • 3 out of 10 were poor in India.
  • The committee also said that there shouldn’t be any link between accessing the beneficiaries to poverty line.
  • As per Rangarajan panel estimates, a person spending less than Rs 1,407 a month (Rs 47/day) would be considered poor in cities, as against the Tendulkar Committee’s suggestion of Rs 1,000 a month (Rs 33/day).
  • In villages, those spending less than Rs 972 a month (Rs 32/day) would be considered poor. This is much higher than Rs 816 a month (Rs 27/day) recommended by Tendulkar Committee.

Adding your comments on these 4 facts on report will work in reaching word limit.

For this question we cannot come out with one answer as poverty in India is the most debated topic.

But epw presents good article on this.

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