AIR 27 · CSE 2021 · GS3 · 44 pages

Saksham Goel: GS3 answer copy

16 answers by Saksham Goel, as written in the test. Each question opens a page with how other toppers answered it.

The questions

  1. Q1Inflation is said to be a necessary evil for economic growth. Critically examine the statement in the context of rising inflation amid COVID-19 pandemic10 marks
  2. Q2To what extend Insolvency and Bankruptcy law is able to rupture the "Chakravyuh Challenge" of Indian economy? Critically evaluate10 marks
  3. Q3Should large corporates and industrial houses be allowed as promoters of banks? Discuss10 marks
  4. Q4Extending legal guarantees for MSP accelerated the agri crisis in India. Discuss10 marks
  5. Q5Micro-irrigation is an innovative technology to accelerate sustainable agricultural growth. Analyse10 marks
  6. Q6Interlinking of rivers can solve the problem of drought and floods in India. Critically evaluate10 marks
  7. Q7Social media can be leveraged by incorporating its wise use in disaster management strategies. Critically examine10 marks
  8. Q8Why is the space start up considered as "sunshine industry" in India? Elaborate on the opportunity and challenges for Space startups in India.10 marks
  9. Q9In the light of increasing incidences of 5th generational warfare, discuss the challenges associated with cybersecurity in India.10 marks
  10. Q10AFSPA gave "sweeping power" to men in uniform without granting citizens protection against its misuse." In the light of this statement, critically examine the need for such draconian act in a democratic state like India.10 marks
  11. Q11Highlight the issue plaguing Indian power sector. What steps are being taken by the government to solve India's power sector crisis?15 marks
  12. Q12Critically evaluate the pros and cons of the recently passed labour codes by the Parliament.15 marks
  13. Q14Buffer stock policy of India needs a serious overhauling to reduce wastage and to achieve the desired social objective. In this context, highlight the major issues in buffer stocks and suggest some measures to address the issue.
  14. Q15What are the key objectives of National Gokul Mission? Discuss the key challenges faced by the Milk production sector in India.15 marks
  15. Q16The extensive "mountain of landfills" are environmental and public health hazards. Discuss the implications of unscientific landfill management and suggest measures to solve the issue15 marks
  16. Q17Discuss the new disinvestment policy of the Government of India. What is the rationale behind the disinvestment of Government PSUs. Also, mention potential challenges of the disinvestment process. 17. What are the mitochondrial diseases? To what extent 3 parents baby treatments can be solution for it? Also, mention the challenges associated with the 3 Parents baby procedure?15 marks

The answers

Question 1 · 10 marks · 144 words written

Inflation is said to be a necessary evil for economic growth. Critically examine the statement in the context of rising inflation amid COVID-19 pandemic

Opening · a definition

Inflation or general price rise is, according to Kaushik Basu (former CEA), the "prime political maladie".

Body · points and prose

The "necessity" of inflation in COVID-recovery

(1) Keynsian economics To boost economy:-

Diagram
[↑Government Spending] -> [Excess supply of money] -> [Excess money chasing same amount of goods] -> [Inflation] [↑Expansionary monetary policy] -> [rate↓ interest] -> [Excess money] -> [Excess money chasing same amount of goods] -> [Inflation]

(2) To attract investments, the rate of growth needs to improve about rate of interest for this, inflation is a necessity.

(3) For private sector to gain profits and infrastructure-led growth, multiplier

effect of government spending is required

"The evil" - Challenges of high inflation

(1) Potential of crowding out of investments (2) Reduced Exports leading to ↓GDP (3) High inflation is disproportionately more burdensome for the poor and marginalised (4) High inflation is also poor for the creditors and banks (5) Inflation hits harder due to high unemployment

Close · a way forward

The expansionary fiscal and monetary policy measures along with must be counter balanced with an inclusionary approach and rolled back and fine tuned as the economy recovers.