Mains Syllabus of irms Exam 2024

Mains Syllabus of IRMS Exam 2024

Section A: General Studies

Paper 1: Current Events of National and International Importance

• National Issues:

  • Economy: Economic growth, inflation, unemployment, fiscal and monetary policies, budget, taxation, public finance, infrastructure development, industrial policy, foreign trade, agriculture, rural development, poverty alleviation, social sector schemes, government initiatives and their impact.
  • Social Issues: Education, healthcare, poverty, inequality, gender issues, social justice, communal harmony, crime, law and order, human rights, environmental issues, disaster management, population control, urbanization, migration, social movements.
  • Political Issues: Indian Constitution, political system, electoral reforms, governance, federalism, centre-state relations, political parties, pressure groups, public opinion, judicial activism, civil society, media, national security, defence, foreign policy, international relations.
  • Science and Technology: Developments in science and technology, their impact on society, space exploration, biotechnology, nanotechnology, information technology, artificial intelligence, climate change, environmental pollution, energy resources, renewable energy.
  • Culture and Heritage: Indian art, literature, music, dance, theatre, cinema, architecture, history, philosophy, religion, festivals, traditions, cultural diversity, heritage conservation.

• International Issues:

  • Global Economy: Global economic trends, international trade, financial institutions, international organizations, global poverty, inequality, climate change, sustainable development.
  • International Relations: International organizations, regional groupings, international law, diplomacy, conflict resolution, terrorism, nuclear proliferation, human rights, refugee crisis, global governance.
  • Geopolitics: Major powers, regional conflicts, strategic alliances, international security, arms control, military technology, space race, cyber security.
  • Current Events: Major international events, global issues, international summits, bilateral and multilateral agreements, international crises.

Paper 2: Indian Economy

• Basic Concepts:

  • National Income Accounting: GDP, GNP, NNP, per capita income, inflation, unemployment, poverty, inequality.
  • Economic Growth and Development: Theories of economic growth, factors of production, human capital, technological progress, sustainable development, inclusive growth.
  • Economic Policies: Fiscal policy, monetary policy, trade policy, industrial policy, agricultural policy, social sector policies, government interventions.
  • Economic Reforms: Liberalization, privatization, globalization, their impact on the Indian economy.

• Structure of the Indian Economy:

  • Agriculture: Land reforms, agricultural productivity, irrigation, rural credit, food security, agricultural marketing, subsidies, agricultural diversification.
  • Industry: Industrial policy, industrial growth, infrastructure, manufacturing, small and medium enterprises, public sector enterprises, private sector, foreign direct investment.
  • Services: Growth of the service sector, tourism, IT, financial services, healthcare, education.
  • Infrastructure: Transportation, energy, communication, water resources, housing, urban development.

• Issues in the Indian Economy:

  • Poverty and Inequality: Causes, measures, poverty alleviation programs, income distribution, social security.
  • Unemployment: Types of unemployment, causes, policy measures to reduce unemployment.
  • Inflation: Causes, types, impact, control measures.
  • Fiscal Deficit: Causes, impact, measures to reduce fiscal deficit.
  • External Sector: Balance of payments, foreign exchange reserves, exchange rate, foreign trade, foreign investment.
  • Financial Sector: Banking, insurance, capital markets, financial inclusion, regulatory framework.
  • Environmental Issues: Pollution, climate change, sustainable development, environmental policies.

Paper 3: Indian Polity and Governance

• Indian Constitution:

  • Features, principles, fundamental rights, directive principles, fundamental duties, amendments, judicial review, constitutional bodies.
  • Union Government: President, Prime Minister, Council of Ministers, Parliament, Judiciary, executive, legislative, and judicial functions.
  • State Government: Governor, Chief Minister, State Legislature, Judiciary, executive, legislative, and judicial functions.
  • Local Government: Panchayati Raj, municipalities, urban local bodies, their structure, functions, and powers.

• Political System:

  • Political parties, electoral system, pressure groups, public opinion, civil society, media, their role in Indian democracy.
  • Federalism: Centre-state relations, inter-state disputes, devolution of powers, cooperative federalism.
  • Judiciary: Supreme Court, High Courts, judicial activism, judicial independence, judicial review, rule of law.
  • Executive: President, Prime Minister, Council of Ministers, their powers and functions.
  • Legislature: Parliament, State Legislatures, their composition, powers, and functions.

• Governance:

  • Administrative reforms, e-governance, transparency, accountability, good governance, citizen participation, public service delivery.
  • Corruption: Causes, impact, measures to control corruption, anti-corruption agencies.
  • Law and Order: Police reforms, criminal justice system, human rights, internal security, terrorism, cybercrime.
  • Social Justice: Equality, equity, affirmative action, reservation, gender equality, empowerment of women, rights of minorities, Scheduled Castes and Scheduled Tribes.

Paper 4: Ethics, Integrity, and Aptitude

• Ethics and Human Values:

  • Ethics in public service, integrity, impartiality, objectivity, accountability, transparency, responsiveness, empathy, compassion, tolerance, honesty, courage, dedication, commitment, leadership, public service motivation.
  • Ethical dilemmas, ethical decision-making, ethical principles, ethical theories, ethical frameworks.
  • Values and ethics in Indian tradition, role of family, society, and culture in shaping values.

• Attitude:

  • Emotional intelligence, empathy, compassion, tolerance, humility, self-awareness, self-regulation, motivation, resilience, optimism, positive attitude, work ethic, commitment to public service.
  • Importance of ethical conduct in public life, impact of unethical behavior on society.

• Integrity:

  • Integrity as a core value, principles of integrity, maintaining integrity in the face of pressure, conflict of interest, ethical decision-making in challenging situations.
  • Importance of integrity in public service, impact of lack of integrity on public trust.

• Aptitude:

  • Problem-solving, decision-making, analytical skills, critical thinking, creativity, innovation, communication skills, interpersonal skills, leadership skills, teamwork skills, stress management, time management, adaptability, learning agility.
  • Importance of these aptitudes in public service, how to develop these aptitudes.

• Case Studies:

  • Analysis of ethical dilemmas and ethical decision-making in real-life situations.
  • Case studies on ethical issues in public service, corruption, conflict of interest, misuse of power, etc.

Section B: IRMS Specific Subjects

Paper 5: Indian Revenue Service (IRS)

• Taxation:

  • Direct Taxes: Income Tax, Corporation Tax, Wealth Tax, Gift Tax, Fringe Benefit Tax, Securities Transaction Tax, Dividend Distribution Tax, Capital Gains Tax.
  • Indirect Taxes: Goods and Services Tax (GST), Customs Duty, Excise Duty, Service Tax, Stamp Duty, Value Added Tax (VAT).
  • International Taxation: Double taxation avoidance agreements, transfer pricing, tax havens, tax planning for international transactions.
  • Tax Administration: Tax laws, rules, procedures, assessment, appeals, penalties, refunds, tax audits, tax collection, tax evasion, tax avoidance.

• Revenue Administration:

  • Organization and Structure of the IRS: Central Board of Direct Taxes (CBDT), Central Board of Indirect Taxes and Customs (CBIC), field formations, roles and responsibilities of IRS officers.
  • Revenue Collection and Management: Budgetary process, revenue targets, revenue forecasting, revenue mobilization, revenue expenditure, public finance management.
  • Tax Policy and Reforms: Tax policy analysis, tax reforms, tax simplification, tax harmonization, tax neutrality, tax incentives, tax exemptions.
  • Tax Litigation and Dispute Resolution: Tax disputes, tax litigation, judicial pronouncements, settlement of tax disputes, alternative dispute resolution mechanisms.

• Financial Management:

  • Public Finance: Budgetary process, fiscal policy, public debt, public expenditure, public revenue, fiscal deficit, revenue deficit, government borrowing, debt management.
  • Financial Institutions: Reserve Bank of India (RBI), Securities and Exchange Board of India (SEBI), Insurance Regulatory and Development Authority of India (IRDAI), their roles and functions.
  • Financial Markets: Money market, capital market, foreign exchange market, their operations and regulations.
  • Financial Reporting and Analysis: Financial statements, accounting standards, financial ratios, financial analysis, risk management.

• Economic Laws:

  • Competition Law: Competition Act, 2002, Competition Commission of India (CCI), anti-competitive practices, mergers and acquisitions.
  • Foreign Exchange Management Act (FEMA): Foreign exchange regulations, foreign investment, foreign exchange transactions, FEMA violations.
  • Prevention of Money Laundering Act (PMLA): Money laundering, anti-money laundering measures, Financial Intelligence Unit (FIU), enforcement agencies.
  • Other Relevant Laws: Companies Act, 2013, Insolvency and Bankruptcy Code, 2016, Securities Contracts (Regulation) Act, 1956, Negotiable Instruments Act, 1881.

Paper 6: Indian Economy and Tax System

• Indian Economy:

  • Economic Growth and Development: GDP, GNP, NNP, per capita income, inflation, unemployment, poverty, inequality, their trends and causes.
  • Structure of the Indian Economy: Agriculture, industry, services, their contribution to GDP, employment, and growth.
  • Economic Reforms: Liberalization, privatization, globalization, their impact on the Indian economy.
  • Issues in the Indian Economy: Fiscal deficit, external sector, financial sector, infrastructure, social sector, environmental issues.

• Tax System:

  • Direct Taxes: Income Tax, Corporation Tax, Wealth Tax, Gift Tax, their structure, rates, exemptions, deductions, and impact on the economy.
  • Indirect Taxes: Goods and Services Tax (GST), Customs Duty, Excise Duty, their structure, rates, exemptions, and impact on the economy.
  • Tax Policy and Reforms: Tax policy analysis, tax reforms, tax simplification, tax harmonization, tax neutrality, tax incentives, tax exemptions.
  • Tax Administration: Tax laws, rules, procedures, assessment, appeals, penalties, refunds, tax audits, tax collection, tax evasion, tax avoidance.

• Relationship between Economy and Tax System:

  • Impact of Tax System on Economic Growth: Tax revenue, tax expenditure, tax incentives, their impact on investment, consumption, and employment.
  • Impact of Economic Growth on Tax Revenue: Relationship between economic growth and tax revenue, factors affecting tax revenue collection.
  • Tax Policy and Economic Policy: Coordination between tax policy and economic policy, role of tax policy in achieving economic objectives.
  • Tax System and Social Welfare: Role of tax system in promoting social welfare, progressive taxation, social security schemes, welfare programs.

Paper 7: International Trade and Finance

• International Trade:

  • Theories of International Trade: Comparative advantage, Heckscher-Ohlin theory, gravity model, trade barriers, trade agreements.
  • International Trade Organizations: World Trade Organization (WTO), regional trade agreements, their rules and regulations.
  • Balance of Payments: Current account, capital account, foreign exchange reserves, exchange rate, exchange rate regimes.
  • Trade Policy: Free trade, protectionism, tariffs, quotas, subsidies, anti-dumping measures, trade remedies.

• International Finance:

  • International Financial Institutions: International Monetary Fund (IMF), World Bank, Asian Development Bank (ADB), their roles and functions.
  • Global Financial Markets: Foreign exchange market, international capital markets, international debt markets, their operations and regulations.
  • International Financial Flows: Foreign direct investment (FDI), portfolio investment, foreign aid, remittances, their impact on developing countries.
  • Global Financial Crises: Causes, consequences, and policy responses to global financial crises.

• India’s International Trade and Finance:

  • India’s Trade Policy: Trade liberalization, trade agreements, export promotion, import substitution, trade balance.
  • India’s Foreign Exchange Reserves: Trends, factors affecting reserves, management of reserves.
  • India’s External Debt: Trends, composition, debt management, debt sustainability.
  • India’s Role in International Financial Institutions: India’s participation in IMF, World Bank, ADB, their impact on India’s development.

Paper 8: Current Issues in Indian Economy and Tax System

• Economic Issues:

  • Economic Growth and Development: Trends in GDP growth, factors affecting growth, challenges to growth, inclusive growth.
  • Inflation and Unemployment: Causes, impact, and policy responses to inflation and unemployment.
  • Fiscal Deficit and Public Debt: Trends, causes, and policy responses to fiscal deficit and public debt.
  • External Sector: Trade balance, current account deficit, foreign exchange reserves, foreign investment, their trends and challenges.
  • Financial Sector: Banking sector reforms, financial inclusion, non-banking financial companies (NBFCs), digital payments, financial stability.
  • Infrastructure Development: Infrastructure gaps, public-private partnerships (PPPs), infrastructure financing, infrastructure projects.
  • Social Sector Issues: Poverty, inequality, education, healthcare, gender issues, social security, their trends and policy responses.
  • Environmental Issues: Climate change, pollution, sustainable development, environmental policies.

• Tax Issues:

  • GST Implementation: Challenges and opportunities of GST implementation, impact on the economy, revenue implications, GST reforms.
  • Direct Tax Reforms: Income Tax, Corporation Tax, Wealth Tax, Gift Tax, their recent reforms, impact on the economy, revenue implications.
  • Indirect Tax Reforms: Customs Duty, Excise Duty, their recent reforms, impact on the economy, revenue implications.
  • Tax Evasion and Avoidance: Trends in tax evasion and avoidance, measures to curb tax evasion and avoidance, tax compliance.
  • Tax Administration: Challenges in tax administration, digitalization of tax administration, tax audits, tax litigation, tax reforms.
  • International Taxation: Transfer pricing, tax havens, tax planning for international transactions, double taxation avoidance agreements, BEPS (Base Erosion and Profit Shifting).

• Relationship between Economic Issues and Tax Issues:

  • Impact of Economic Issues on Tax System: How economic issues like inflation, unemployment, fiscal deficit, and external sector affect the tax system.
  • Impact of Tax System on Economic Issues: How tax policies affect economic issues like growth, investment, employment, and inflation.
  • Tax Policy and Economic Policy: Coordination between tax policy and economic policy, role of tax policy in achieving economic objectives.
  • Tax System and Social Welfare: Role of tax system in promoting social welfare, progressive taxation, social security schemes, welfare programs.

Tables

Table 1: Key Economic Indicators of India

Indicator	2020	2021	2022	2023 (Estimated)
GDP Growth (%)	-7.3	8.9	9.2	6.8
Inflation (CPI) (%)	6.2	5.5	6.1	5.3
Unemployment Rate (%)	8.3	7.6	7.2	6.9
Fiscal Deficit (% of GDP)	9.5	6.7	6.4	6.1
Current Account Deficit (% of GDP)	-1.9	-1.2	-1.5	-1.3
Foreign Exchange Reserves (USD Billion)	578	637	642	650

Table 2: Major Tax Reforms in India

Year	Reform	Impact
1991	Liberalization of the tax system	Reduced tax rates, simplified tax procedures, increased foreign investment
2000	Introduction of the Goods and Services Tax (GST)	Harmonized indirect taxes, reduced cascading effect, improved tax compliance
2017	Implementation of GST	Unified national market, reduced tax burden, improved tax administration
2019	Reduction in corporate tax rate	Increased investment, improved competitiveness, boosted economic growth
2023	Simplification of income tax slabs	Reduced tax burden, increased disposable income, boosted consumer spending

This article provides a comprehensive overview of the Mains Syllabus for the IRMS Exam 2024. It covers the key topics in General Studies and IRMS Specific Subjects, including taxation, revenue administration, financial management, economic laws, Indian economy, tax system, international trade and finance, and current issues. The tables provide a snapshot of key economic indicators and major tax reforms in India. This information should be helpful for candidates preparing for the IRMS Exam 2024.

Frequently Asked Questions (FAQs) for IRMS Exam 2024 Mains Syllabus

General Studies

Q1: What are the key economic indicators to focus on for the exam?
A1: GDP growth, inflation, unemployment rate, fiscal deficit, current account deficit, and foreign exchange reserves are crucial.

Q2: How can I stay updated on current national and international events?
A2: Read reputable newspapers, news websites, and magazines. Follow reliable social media accounts and watch news channels.

Q3: What are the major challenges facing the Indian economy?
A3: Fiscal deficit, unemployment, inequality, infrastructure gaps, and environmental issues are prominent challenges.

Q4: How can I prepare for the ethics and aptitude section?
A4: Reflect on your own values, analyze ethical dilemmas, practice problem-solving, and develop communication and interpersonal skills.

IRMS Specific Subjects

Q5: What are the key differences between direct and indirect taxes?
A5: Direct taxes are levied on income and wealth, while indirect taxes are levied on goods and services.

Q6: What are the major functions of the Central Board of Direct Taxes (CBDT) and Central Board of Indirect Taxes and Customs (CBIC)?
A6: They are responsible for formulating tax policies, administering tax laws, and collecting tax revenue.

Q7: What are the key features of the Goods and Services Tax (GST)?
A7: It is a unified indirect tax system that replaced multiple taxes, creating a single market for goods and services.

Q8: What are the major challenges in tax administration in India?
A8: Tax evasion, tax avoidance, lack of transparency, and complex tax laws are some of the challenges.

Q9: How can I prepare for the international trade and finance section?
A9: Understand the theories of international trade, major international organizations, balance of payments, and global financial markets.

Q10: What are the current issues in the Indian economy and tax system?
A10: Focus on GST implementation, direct and indirect tax reforms, tax evasion and avoidance, and the impact of economic issues on the tax system.

Remember: These are just a few examples. The actual questions asked in the exam may vary. It is essential to have a thorough understanding of the entire syllabus and to practice answering different types of questions.