RBI Grade B Phase 2 2023-Economic and Social Issues [ESI] Preparation

Economic & Social Issues (ESI): How to Ace the RBI Grade B Phase II Exam

ESI is a crucial part of the RBI Grade B Phase II Exam. It checks how well you know the Economic & Social concepts and the current issues affecting them. The new pattern of Phase 2 has two parts: Objective (30 minutes) and Descriptive (90 Minutes) with a total of 100 marks.

This article will supply you with the complete ESI syllabus, success tips, and goal-oriented resources to master the ESI section. Plus, a Free Mock Test to showcase how Mock Tests can boost your preparation in no time.

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RBI Grade B Exam Pattern Phase 2 2023

RBI Grade B exam pattern, the Mains exam is divided into 3 subjects. Two of these subjects are objective & subjective in nature. while one of them is completely subjective in nature. Economics & Social Issues (ESI) and Finance & Management (FM) are the two objective & subjective papers in the RBI Grade B Phase 2 exam. Plus, there’s a descriptive paper in English in which you will be asked an Essay, Precis, and Reading Comprehension.

RBI Grade B Phase 2 2023-Economic and Social Issues [ESI] Preparation

The ESI paper is part of the Phase 2 exam, which also includes papers on English and Finance and Management. The ESI paper consists of both objective and descriptive questions, with a total of 50 marks and 90 minutes duration. The objective questions are based on multiple-choice questions (MCQs) and some questions may carry 2 marks each and some may carry 1 mark each. The descriptive questions require the candidates to write short answers or essays on topics related to economic and social issues in India and the world.

The ESI syllabus covers various topics such as:

• Growth and Development
• Measurement of growth
• National Income and per capita income
• Poverty Alleviation and Employment Generation in India
• Sustainable Development and Environmental issues
• Economic Reforms in India
• Industrial and Labour Policy
• Monetary and Fiscal Policy
• Privatization
• Role of Economic Planning
• Globalization
• Opening up of the Indian Economy
• Balance of Payments
• Export-Import Policy
• International Economic Institutions
• IMF and World Bank
• WTO
• Regional Economic Co-operation
• Social Structure in India
• Multiculturalism
• Demographic Trends
• Urbanization and Migration
• Gender Issues
• Social Justice
• Positive Discrimination in favor of the underprivileged
• Social Movements
• Indian Political System
• Human Development
• Social Sectors in India
• Health and Education

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Free Resources for RBI Grade B Preparation on PracticeMock

Here are the 4 Effective resources that you can get access to for free Preparation:

1. Mint Analysis (Vishleshan)
2. Schemes Chronicles
3. Mint StatiCA
4. Bazooka Series (Specifically for Phase 1)

How to Prepare for Government Schemes?

If you want to master the government schemes you should follow the PIB (only @ 99 Rs).

Some more important resources to master the ESI section

Don’t miss these key resources to ace this section:

• The Union Budget (Get FREE Union Budget PDF)
• Press Information Bureau (Take PIB only @ 99 Rs👉अभी खरीदें! )
• The Hindu Newspaper
• New Foreign Trade Policy (Grab Weekly Current Affairs- Download Free PDF)
• Keep an eye on the Economic Survey of India
• Newspapers (Current events, factual in nature)
• Go through RBI’s Annual Report & RBI’s FAQ section
• The Economic Survey of India (Grab Weekly Current Affairs- Download Free PDF)

Important Chapters for the Descriptive Paper

Be ready to answer some descriptive questions from the topics given below:

• Employment Generation
• Poverty Alleviation
• Indian Agriculture
• Export & Import Policy
• Human Development 
• Health & Education
• Monetary & Fiscal Policy 
• Changes in Industrial Policy & Labour Policy
• Priorities & recommendations of Economic Survey& Union Budget.
• Social Sectors in India 

Objective Paper: Important Topics

Here are the topics to master:

• Master the basics (fundamentals).
• Cover these basic chapters of ESI & FM like
• Measurement of Growth – Various Indicators like GDP, GNP, NNP, National Income, etc.
• What is Monetary and Fiscal Policy?
• Balance of Payments
• Industrial & Labour Policy 
• Sustainable Development
• Various tools are used by RBI (as part of Monetary policy) and the Government as part of Fiscal Policy.
• Indian Political System (important articles)

RBI Grade B 2023-ESI Preparation Tips

If you want to ace the RBI Grade B 2023-10 ESI paper, which has both objective and descriptive sections, you need to follow these 10 tips:

1. Master the basics.
2. Stay updated on current affairs.
3. Learn the latest trends in the syllabus topics.
4. Tackle descriptive questions of any type: static, dynamic, or opinion-based.
5. Get familiar with the RBI Grade B syllabus and exam pattern for the Phase 2 ESI paper and plan your study accordingly.
6. Stay updated on current economic and social issues by reading the Economic Survey of India, the Union Budget, and the Hindu newspaper on a regular basis.
7. Brush up your knowledge of macroeconomics, banking, finance, and social development from NCERT books or notes.
8. Enhance your writing skills by practicing essays, precis, and answers on ESI topics within the given time and word limit.
9. Test your preparation level by taking mock tests and identifying your strengths and weaknesses.
10. Use trustworthy sources like PracticeMock for accessing study materials.
11. Memorize facts, figures, numbers, and percentages related to ESI topics and recall them easily.
12. Follow the Press Information Bureau website for getting official updates on government policies and schemes.
13. Learn the fundamentals of international economics like balance of payments, foreign trade policy, international economic institutions, etc.
14. Be aware of the regional economic cooperation and social issues in India and abroad.

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Takeaway

If you want to ace the RBI Grade B Phase II Examination, you need to master the Economic & Social Issues (ESI) section. This section will challenge your understanding of the Economic & Social concepts and issues that affect our nation. ESI has two parts: Objective (30 minutes) and Descriptive (90 Minutes) with a total score of 100 marks. Don’t worry, you can crack this section with the right resources and mock tests. The resources will help you build a strong foundation of the subject and the mock tests will help you sharpen your skills and test your knowledge. Mock tests are like mirrors that reflect your strengths and weaknesses. The more you practice, the more you learn.

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