Indian Economic Service Officer: A Stepping Stone to Build a Career in Government Department

Does the topic of ever-increasing prices, the bank interest rates, the announcement of the annual budget interest you? Are you curious about economic advice, the regulation of money and the generation of employment opportunities? Do you wish to be a part of the excitement of contributing to the shaping of the economy? Are you willing to be a part of the government administration and take up challenging roles and responsibilities? If the answer to all these questions is yes, Indian Economic Services is the right option for you. Read on to find out about the Indian Economic Service examination and much more.

Indian Economic Services are meant for rendering executive-level administration under Group A of the Central Civil Services of the Government of India. Indian Economic Service Officers analyze and study the economic aspects of the country, and design and formulate development policies and plans. Officers of the Indian Economic Services are directly recruited on the basis of the Indian Economic Service examination (IES) which is conducted by the UPSC.

Why become an Indian Economic Service Officer?

Civil Services Officers are one of the most important administrative authorities of India. Civil Services officers run government administration – both at the central and the state level. The Indian Economic Service Officers are a part of the administrative civil service under Group A of the Central Civil Services of the Government of India.

Indian Economic Services Officers work at the executive level. They are responsible for undertaking economic analysis (examining the economic systems or study of the production processes of various industries to determine how effectively the economy is operating), providing advice in designing and formulating development policies and plans, implementing projects, strengthening delivery systems, monitoring and evaluating public benefit programs.

As an Indian Economic Services Officer, you will serve in a diverse range of subject areas such as finance, the social sector, rural development, education, health, agriculture, industry, trade, transport, and information technology. You will deal with development issues and contribute to policy-making in various departments/agencies and services of the Central Government.

As an Indian Economic Services Officer, you will be posted across different Ministries and Departments of the Central Government dealing with economic and social sectors such as:

• Planning Commission
• Ministry of economic affairs
• National Sample Survey Organisation (NSSO)
• Department of Economic Affairs
• Department of Expenditure
• Department of Financial Services
• Department of Investment and Public Asset Management
• Department of Revenue

The Indian Economic Services Officers are also deputed to serve in various domestic and international organizations such as UN bodies, foreign governments, state governments, and regulatory bodies. Officers of the Indian Economic Services are directly recruited on the basis of the Indian Economic Service examination (IES) which is conducted by the UPSC.

What does an Indian Economic Service Officer do?

As an Indian Economic Services officer, you would be involved in the following key roles and responsibilities:

• You would be involved in matters related to economic advisory, economic administration, and implementation of development policies and programs, besides dealing with other areas such as economic reforms, regulations, price fixation, and monitoring and evaluation.
• You would be involved in almost all the sectors of government functioning – for example, providing the economic basis of policymaking and continuity in policymaking.
• You would be required to be closely associated with and involved in the economic reforms in various Ministries/ Departments to which you are posted.
• You would also advise the concerned Ministries/ Departments, on a continuous basis, on all policy matters having a bearing on internal and external economic management, and facilitate reforms in the fields/ sectors concerned.
• You would provide the Ministries/ Departments with inputs on all policy-related matters, and their economic implications.
• You would be required to monitor and evaluate various policy parameters from economic perspectives laid down in the Fiscal Responsibility and Budget Management Act 2003 and assist the Ministry of Finance in preparing annual or any other periodical statement required for complying with the provisions of the said Act.
• You would also interact with the Chief Economic Adviser in the Department of Economic Affairs to ensure economic implications of policy changes are comprehensively analyzed, and facilitate individual Ministries/ Departments to spearhead reforms in the direction envisaged by the Government.

How to become an Indian Economic Service Officer – Eligibility Criteria

In order to be eligible for Indian Economic Service Examination, you must hold a Post-Graduate degree in Degree in Economics (with specialization in Applied Economics/Business Economics/Econometrics or any similar field). The minimum age to be eligible for IES exams is 21 years and the maximum age is 30 years. The Indian Economic Service examinations and recruitment are conducted by the Union Public Service Commission (UPSC).

The examination is conducted in two parts. Part I comprises of total 6 papers of 1000 marks. The first two papers will be of a subjective type and carry 100 marks each and the other four papers are of 200 marks each.

Part I-Written examination

1. General English
2. Essays
3. Comprehension Passage
4. General Studies
5. Current Events – National & International
6. Indian Geography
7. Indian History
8. Indian Polity
9. Indian Constitution
10. Policy & Governance
11. Environmental Studies
12. Science & Technology
13. General Economics-I
14. Theory of Consumer Demand
15. Theory of Production
16. Welfare Economics
17. Theory of Value
18. Theory of Distribution
19. Quantitative Methods in Economics
20. General Economics-II
21. Economic Thought
22. The Concept of National Income and Social Accounting
23. Theory of Employment, Money & Finance
24. Financial and Capital Market
25. Economic growth and development
26. International Economics
27. Balance of Payments
28. Global Institutions
29. General Economics-III
30. Public Finance
31. Environmental Economics
32. Industrial Economics
33. State, market, and planning
34. Indian Economics
35. History of development & Planning
36. Federal Finance
37. Budgeting and Fiscal Policy
38. Poverty, unemployment, and Human Development
39. Agriculture and Rural Development Strategies
40. India’s experience with Urbanisation and Migration
41. Industry: Strategy of industrial development
42. Labor
43. Foreign Trade
44. Money and Banking
45. Inflation

Part II- Viva-voce carrying a maximum of 200 marks

The Union public service commission conducts an interview round for those who have successfully cleared the exam. An interview will be conducted of a total of 200 marks to assess the suitability of a candidate for the Indian Economic Services. It may assess the following attributes in a candidate (these are only indicative and do not comprise all the criteria):

• Analytical and logical abilities
• Balance of judgment
• Compassion and empathy
• Critical abilities
• Deductive and Inductive Reasoning abilities
• Ethical thinking
• Integrity and morality
• Intellectual abilities
• Interpersonal abilities
• Leadership abilities
• Multi-faceted interests and depth of interests
• Power of expression
• Self-awareness or intra-personal abilities
• Understanding of social issues and challenges

Educational Fees

There is no specific fees involved in this career. However, there may be some expenses that you will have to bear during the recruitment process such as travel expenses to attend the selection test, medical examination fees, etc.

Job Opportunities

You will be appointed to the service as Assistant Director or a Research Officer after undergoing probationary training including the Foundation course (conducted for the All India Services and the Central Civil Services), training on Economics at the Institute of Economic Growth, Delhi, and training/ attachment at various national level Institutes of repute across the country.

As an Indian Economic Service Officer, you will be recruited in the following Ministries and Departments:

• Planning Commission
• Ministry of economic affairs
• National Sample Survey
• Department of Economic Affairs
• Department of Expenditure
• Department of Financial Services
• Department of Investment and Public Asset Management
• Department of Revenue

Salary of Indian Economic Service Officer

According to the 7th Central Pay Commission,

As Research Officer, you would earn around Rs. 69,237 – 95,796 per month

As Senior Research Officer, you would earn around, Rs. 82,809 – 1,42,245 per month

As Economic Adviser, you would earn around, Rs. 1,56,987 – 1,72,314 per month

As Senior Economic Adviser, you would earn around, Rs. 2,11,837 – 2,59,462 per month

As Chief Economic Adviser, you would earn around, Rs. 2,39,462 – 2,76,962 per month

Career progression in Indian Economic Service Officer profession

If you begin your career after appointment as a Research Officer you would progress as:

Research Officer–Senior Research Officer – Deputy Economic Adviser – Economic Adviser – Senior Economic Adviser – Chief Economic Adviser

If you begin your career after your appointment as Assistant Director you would progress as:

Assistant Director – Deputy Director – Joint Director – Adviser – Senior Adviser – Principal Adviser

What does industry trends say – Future Prospects

According to the 68th Annual Report submitted by Union Public Service Commission, a total number of21, 831 applied for Indian Economic Service /Indian Statistical Services examination. A total of only 2, 804 appeared in the examination while only 104 candidates were interviewed/ whose service records were evaluated out of which only 44 candidates were recommended for appointment to the Indian Economic Service/Indian Statistical Service posts. The number of seats available for Junior Scale of Indian Economic Service (IES) posts is 32 Seats and for Indian Statistical Service (ISS) 33 seats. Although the Indian Economic Services/Indian Statistical Services examination is very tough to crack with such high-end competition, a career as IES/ISS officer offers great opportunities and perks.

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