Indian Economic Service Exam: Highlights, Syllabus & Tips (2024)

What is the Indian Economic Service?

Do you desire a stance with the Indian government? Are you an enthusiast of economics?

If so, you should look into the Indian Economic Services career path (IES).

Every government organisation needs a specific set of committees, offices, staff, authorities, and members of the government to plan, manage, create, and carry out national goals and objectives. We reside in an exponentially growing nation, where modifications and revisions are transpiring in the nation every day.

The government requires employees who can make sound decisions and work remotely to develop national policy. So here, Indian Economic Service (IES) officers have an important role to play.

What is IES exam?

The IES exam is known as the Indian Economic Service examination. It is conducted by the Union Public Service Commission (UPSC) of India. It is conducted annually to recruit engineers for various departments and services under the Government of India, such as Indian Railways, Central Engineering Service, Central Water Engineering Service, Indian Defense Service of Engineers etc.

IES Exam Highlights

The Union Public Service Commission (UPSC) will administer the Junior Time Scale of Indian Economics examination per guidelines issued in the Indian Gazette by the Ministry of Statistics and Programs established by the Indian Government.

Candidates who pass the Indian Economic Service Test are sent to employment in the Ministry of Economic Affairs, the Planning Commission, and other agencies and departments that need individuals who know about governance, economics, and statistics. UPSC will conduct the IES exam on February 18, 2024.

Exam	Indian Economic Service Exam
Frequency	Once a year
Conducted By	Union Public Service Commission (UPSC)
Subjects	General Studies Economics paper I Economics paper II Economics paper III Indian Economics
No. of attempts	6
Exam mode	Offline
Duration of the exam	3 days
Official Website	www.upsc.gov.in

Indian Economic Service Exam: Eligibility

Conducting Qualifying Exam

As stated in the Employment News announcement, the UPSC oversees holding the open competitive exam for IES recruitment at the designated time and location.

According to the rules of the Cadre Controlling Authority, the total number of positions to be filled includes quotas for physically challenged individuals, members of scheduled tribes and castes, and other backward groups.

Eligibility

Nationality

Candidates must be either

(a) An Indian citizen

Age Limit

A candidate’s minimum age requirement for the IES test is 21 years old, and their maximum age requirement is 30 years old on January 1 of the exam year. The UPSC may periodically announce a reduction in the maximum age requirement for certain reserved classes.

Educational Background

A PG degree in economics, applied economics, business economics, or econometrics from an accredited university is required for eligibility to take the Indian Economic Service exam. Applicants who are taking qualifying degree exams are also eligible to apply tentatively for the exam, provided they submit official proof of completion with their properly completed application.

Read about the difference between IAS and IES.

Application Fees

• Candidates must pay a fee of Rs. 200/-
• Female, SC/ST and Candidates with Benchmark Disability are exempted.

Application Process

• Candidates are asked to submit just one application.
• All applicants, whether in government service, government-owned enterprises, or private employment, should apply directly to the Commission.
• Persons already in government service, whether in a regular or temporary capacity or as labor invoiced to other employees compared to casual or daily-rated employees or those functioning under Public Enterprises, need to notify in writing their Head of Office/Department that they have applied for the Examination.

Syllabus for Indian Economic Service Exam

The syllabus for the Indian Economic Service exam contains different sections for each subject. Questions from different topics of these subjects are asked, such as essay writing, passages, vocabulary, etc. in English.

Topics like general knowledge, Indian Polity, Indian History & Geography from Social studies. Then there are economic topics like consumer demand theory, welfare economics, economic thought, the theory of value, international economics, and much more.

Examination Pattern

We have listed the following papers that will be present in the examination.

Round 1

General English (100 marks in 3 hours)

General Knowledge (100 marks in 3 hours)

Economics Paper I (200 marks in 3 hours)

Economics Paper II (200 marks in 3 hours)

Economics Paper III (200 marks in 3 hours)

Indian economics (200 marks in 3 hours)

Round 2

Round 2 consists of a viva voce or an interview of 300 marks.

Tips to Clear Indian Economic Service Exam

1. Basic Preparing Methods

• The path to success in the IES Test requires a great deal of effort and commitment.
• Since this is a competitive exam that requires writing essays, having strong writing abilities and fluency in the English language are essential.
• Each subject needs to be narrowed down and thoroughly revised.
• Solve sample papers with detailed solutions, this would help succeed.

2. Evaluate Strengths and Weaknesses

Each aspirant should examine their strengths and limitations to prepare for any qualifying examination. For instance, the applicant might have a strong command of English and a medium knowledge of finance. This self-evaluation is more crucial since it will allow the candidate to create a strategy that will turn their weaknesses into strengths.

3. Hard Work

It’s true: “Knowledge is of no value unless you put it into practice.” Thus, continue to practise diligently until excellence is obtained in every single chapter as you move forward.

4. Avoid Stress

Despite their subject of study and area of competence, exam candidates must set aside at least an hour each day to unwind and avoid stress. The study schedule includes time for relaxation or physical activity to maintain a healthy mind, physique, and spirit before tackling any intellectual task. In preparing for such admission exams, it’s crucial to maintain healthy eating habits.

5. Challenge Yourself

It’s easy to get stuck on a question and leave it, saying it’s difficult. But what’s hard to do is challenge yourself to dive deep into the concept of difficult questions and solve them. To prepare well and ace your Indian Economic Services exam you need to challenge your mind and expand your mental abilities. Once you start falling into a routine, make some alterations to it and do something new and challenging to exercise your brain.

6. Take Guidance

You might find hundreds of guidance videos on the internet, but nothing will compare to the advice given by your teachers. So, while preparing for the Indian Economic Service jobs and exams, do ask your mentor, teachers, and previous rankers for advice and guidance. They can tell you genuine solutions for real problems and not just bookish problems real-life problems, like what field to choose after clearing the exam, how to learn the job skills needed for the role, and how to become good in your role.

Suggested Read:
Understanding the Value of Career Planning
Insights on Cracking UPSC with the Right Optional Subject
Effective Tips for IAS Preparation at Home

Skills Required to Crack IES Examination

Clearing the Indian Economic Services exam is important to becoming an IES officer. However, if you want to become a successful and reputed officer then, you must have certain skills in you.

1. Leadership Skills

Having leadership skills is crucial for an IES officer, as an officer you should be able to lead your subordinates towards completing the assigned task.

2. Problem-Solving Skills

You would face several situations in your job role, situations in which you need to find immediate and accurate solutions to problems.  For that, you need to enhance your problem-solving skills.

3. Decision-Making Skills

In a day, an IES officer has made several decisions related to finances, advised seniors, and guided subordinates. In such cases, you need to be prepared to make swift and sensible decisions.

4. Critical-thinking Skills

Having critical thinking skills is crucial for an Indian Economic Services officer. So that they can analyse the situation, think critically before concluding, and make well-informed decisions.

What Are the Roles and Responsibilities of IES Officers?

As an IES officer, your role is broadly categorized in the areas of economic advice, economic administration, and implementation of policies.

• IES officers operate on a broad spectrum such as banking, regional development, skills training, wellness, agricultural production, sector, commerce, transit, IT etc.
• Focus on providing institutional expert knowledge to authorities that provide support for structural reforms and strategy.
• These officers make sure that all the policies are framed accurately by the individual Departments/ Ministries while keeping the overall directions of economic policies contained in the Five-years plan, Union Budgets etc.
• The positions in the planning commission were previously held by members of the IES cadre; they are currently filled by members of NITI AYOG.

Salary of Indian Economic Service Officers

The base average pay for an Indian Economic Service officer is from INR 15,600 to INR 39,100. The average basic income in India is approximately INR 21,000 per month with a grade pay of INR 5,400.

The total monthly income, which includes the daily allowance of 125% of the basic salary and the TA and HRA of 30% for metro cities, is around INR 59,750.

With standard exclusions from the gross compensation (NPS of 10% plus additional deductions), the in-hand pay for the Indian Economic Service is around INR 56,000.

Economic rationality is becoming more important in decision-making in the fast-globalizing environment. The demand for IES officers has grown significantly important in light of the government’s ongoing changes.

Start Preparing for Indian Economic Service Jobs

Many people have the desire to become an IES officer, so if you embrace this dream, you should start preparing so that you can pass the eligibility criteria required for the Indian Economic Service exam.  As it is a reputed government job position, the roles and responsibilities of an IES officer are more than any normal job title. To bring about economic and social change, you will interact closely with government representatives. With this job, you can make a difference in the country and help the citizens of the country. With hard work, dedication and a study strategy, you will be able to clear the IES exam.

And, if you are still unsure of your career paths, you can review our advice.

So, get started today on your path to becoming an IES officer. Keep learning and succeeding.

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