Pandemic Economic Response — Prelims Strategy

Prelims Strategy

For Prelims, focus on factual recall and conceptual clarity. Create a detailed list of all major schemes and initiatives launched by the government (e.g., PMGKP, ECLGS, MGNREGA allocation) and the specific monetary policy tools employed by the RBI (e.

g., repo rate cuts, TLTROs, loan moratorium). Understand the primary objective of each measure. Pay close attention to the constitutional and legal provisions that enabled these responses, such as the FRBM Act's escape clause and the RBI Act's powers.

Differentiate clearly between fiscal and monetary measures. Memorize key numbers or percentages if they represent significant shifts (e.g., fiscal deficit figures for FY21). Practice MCQs that test your ability to identify the correct institution responsible for a policy (government vs.

RBI) and the nature of the policy (fiscal vs. monetary). Create flashcards for quick revision of scheme names, their objectives, and the implementing body. Pay attention to the timeline of policy announcements and their evolution.