We have come up with an innovative method to cover the latest Economic Survey (2017-18). What we will be doing is framing MCQs on each chapter of Vol 1 as well as Vol 2 by extrapolating the information given in the respective chapters.
For example, Vol 1 of Survey contains a statement as follows:
“The relief from embedded state taxes (ROSL) announced in 2016 boosted exports of ready made garments by about 16%”
One may consider this statement to be trivial but extrapolation of this very statement poses questions like:
1) What is ROSL?
2) Once you read about ROSL, you encounter another term i.e. “Zero Rated Goods”. Now what are those?
3) While searching for zero rated goods, you also read about the fact that there is no GST on exports.
4) You also encounter terms like Merchandise Export from India Scheme (MEIS) and so on!
See? 1 statement of Survey has led to 4 different questions that can be asked in the examination!
ROSL is linked to topic of Industrial and Labor Policy, Zero Rated Goods can be linked to the topic of Export Import Policy and no GST on exports is linked to the topic of GST
We shall also be preparing detailed explanations for each of these MCQs. If time permits, we shall also try to come up with video explanations of all the questions.
So the basic idea is to link theory or basic concepts with current economic scenario as contained in the Survey.
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