The growth of Asia is destined to position it as the growth engine of the world, with India and China emerging as important economic and industrial hubs. Of late, in Asia, India has caught the attention of the world and got recognition of being the young nation and in turn a land of huge potential.
With India’s economic growth improving and government policies of inclusive growth in focus would result in increase in disposable income and hence improving standard of living. With money going right down to the bottom of the social pyramid, India is a big consumption story and a giant in making.
Economics provides perspectives on the efficient use and management of resources. The changing syllabus has touched these vital aspects of evolving economy, changing demographics and its impact on the social development and keeping in mind the merit, this section should contribute to majority of questions in the paper.
What to do?
This is highly dynamic subject and requires update knowledge to face the questions being asked in the examination.
Besides, conventional areas, important take away from important government documents like Economic Survey and Union Budget needs to be prepared and be sure of the updated figures while getting ready to write examination.