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Indian Economics Service Salary 2024 - In Hand, Pay Scale & Career Growth
Edited By Meghana Mohana Krishnan | Updated on May 31, 2024 10:26 AM IST | #UPSC IES ISS
The UPSC conducts the Indian Economics Service exam to recruit candidates for the post of Economist in government organisations. The IES is one of the most popular but toughest exams as the vacancies are less. Candidates who qualify the IES exam are given a handsome Indian Economics Service 2024 Salary in return of their services. As it is one of the most well paid jobs it attracts a lot of applicants. Candidates who qualify IES 2024 are given a salary of Rs. 59, 750 (Total Gross salary will be 21,000 + 26,250 + 7,200 + 6,300 = Rs. 59,750/-). Check all details to know more about the job profile, Indian Economics Service 2024 salary, allowances, promotion and perks, check the complete article below.
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The Indian Economics Service Salary 2024 is based on candidates post and area of posting. The shortlisted candidates get handsome salaries as per the 7th pay commission standards. Along with the Indian Economics Service 2024 Salary applicants will also receive HRA or Government Accommodation, TA, Maternity benefits, GPF, Insurance etc.
Indian Economic Service Salary 2024 - Components
Basic Pay of Indian Economic Service Officer
House Rent Allowance (HRA)
Dearness Allowance (DA)
Transport Allowance (TA)
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Subscribe NowHow to Calculate Indian Economic Service Salary 2024?
The pay scale of the Indian Economic Service Officer is Rs. 15,600 – 39,100.
Grade Pay | Rs. 5400 |
Basic salary | 15,600 + 5,400 = 21,000 |
Daily Allowance (DA) | 125% DA = Rs.26,250 |
Travelling Allowance (TA) | Rs.3000 + 3000 × 125 % of DA rate = Rs.7,200 |
There will be 30% of HRA in metro cities | 6300 |
Total Gross salary | 21,000 + 26,250 + 7,200 + 6,300 = Rs. 59,750/- p.m |
Indian Economic Service Salary 2024 - In-hand
NPS will be 10% of basic pay | 21,000 x10% = 2,100 |
Other deductions | 1550 |
Total deductions | 2,100 + 1,550 = 3,650 |
In hand salary of Indian Economic Services will be Gross Salary - Deductions | 59,750 - 3,650 = 56,100 |
Indian Economic Service Salary 2024 - Post-wise salary
Grade/ Designation | Pay Structure |
Junior Time Scale (JTS)/ Assistant Director/ Research Officer | INR 15,600 - 39,100 plus Grade Pay: 5,400 |
Senior Time Scale (STS)/ Deputy Director/ Assistant Economic Adviser/ Senior Research Officer | INR 15,600 - 39,100 plus Grade Pay: 6,600 |
{including Non-Functional Selection Grade (NFSG)/ Director/ Additional Economic Adviser} | INR 37,400 - 67,000 plus Grade Pay: 8,700} |
Junior Administrative Grade (JAG)/ Joint Director/ Deputy Economic Adviser | INR 15,600-39,100 plus Grade Pay: 7,600 |
Senior Administrative Grade (SAG)/ Economic Adviser/ Adviser | INR 37,400-67,000 plus Grade Pay: 10,000 |
Higher Administrative Grade (HAG)/ Senior Economic Adviser/ Senior Adviser | INR 67,000- (annual increment @3%) - 79,000 |
Higher Administrative Grade + (HAG +)/ Principal Adviser (Apex) | INR 80,000 (fixed) |
Other UPSC IES ISS important links
Indian Economics Service Salary 2024- Roles and Responsibilities
The role can be distributed in terms of economic administration, economic advice, implementation of development policy and programmes, dealing in areas such as economic reforms, regulation, price fixation, and monitoring and evaluation.
Making a contribution toward policymaking in social sectors.
It is a versatile role, of an in-house economist with domain knowledge and experience.
The role of IES/ISS is getting closely associated with and getting involved in economic reforms in the respective Ministry/ Department they are posted.
Advising the concerned Ministries/ Departments on policy matters, internal and external economic management, and facilitating reforms concerning fields.
Monitor and evaluate policy parameters from economic angle
Helping in creation of the Annual Plan Budgets, Union budget, Five-Year Plans, etc.,
Other exams conducted by UPSC
Other government posts salaries candidates might be interested in
Frequently Asked Questions (FAQs)
1. What is the basic pay of IES/ISS?
The basic pay is Rs. 21000.
2. What is the in-hand salary of IES/ISS?
The in-hand salary as per the 7th pay commission is Rs. 56,100.
3. What is the work of an IES/ISS?
The work of an IES/ISS varies from working on economic matters, statistics and formulation/monitoring/evaluation of different schemes in these Ministries/Departments.
4. What is the difference between IAS and IES?
IAS stands for Indian Administrative Service while IES stands for Indian Economic Services. The job and the responsibilities are both different
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Hi
To apply for the Indian economic service the candidates must have obtained a Post Graduate Degree in Economics/Applied Economics/Business Economics/Econometrics from a recognized university or a foreign university approved by the Central Government of India from time to time.
Hope it helps...
To apply for the Indian economic service the candidates must have obtained a Post Graduate Degree in Economics/Applied Economics/Business Economics/Econometrics from a recognized university or a foreign university approved by the Central Government of India from time to time.
Hope it helps...
Aditya kumar singh 10 September,2021
How to find community certificate number?
NITHISH KUMAR G J 08 July,2022
Hi aspirant
Yes, they create a good environment to prepare any kind of exams.
The college has vast books in the library and students can refer anything of their choice.
You will have peace of mind and focus towards the work in the library for a good preparation of UPSC ESE.
ALL THE BEST!!
Srikanth Sreeram 30 August,2020
IES is considered as one of the toughest examinations in India. It is due to the difficulty related to the examination and also the selection procedure. Thereare less number of posts and more number of aspirants for IES every year. Although IES is difficult, it can be achieved by proper plan and execution of result oriented study.
In view of the vast syllabus and tough competition in IES, only a few candidates can get good ranks in their very first attempt. Majority of the candidates get good ranks in their 2nd or 3rd or higher attempts.
In terms of branch selection, there is no preferable branch if you want to take up IES exam. Choose a branch in accordance with you interest areas and talent and can prepare for the exam as per the UPSC schedule.
Whatever your core branch is, a versatile approach towards engineering can enhance your chances to qualify this exam.Like any other UPSC exam, this one also needs a dedicated and strategic preparation of 16–18 hours a day.
Raza Imam 21 August,2020
• Age Limit: The candidate must be 21 Years to 30 Years as on 01.04.2020 i.e. candidates must have been born between 02.04.1990 and 01.04.1999 (both dates inclusive)
• Educational Qualification: The candidate must be a graduate in any discipline from a recognized University or any equivalent qualification recognized as such by the Central Government. Those who are in the Final year/Semester of their Graduation may also apply provisionally subject to the condition that, if called for interview, they must produce proof of having passed the graduation examination on or before 01.07.2020. Candidates with Integrated Dual Degree (IDD) certificate must ensure that the date of passing the IDD is on or before 31.08.2020. Candidates with Chartered Accountant certification may also apply.
SBI PO Selection Procedure: Important Points
The candidates should keep in mind the following points related to the SBI PO selection process:
• Biometric Verification: To ensure an error-free and secure selection procedure for SBI PO 2020, the bank may digitally capture the thumb impression of the candidate. This is done to verify the genuineness of the candidates. Any inconsistency in the biometric verification will lead to rejection of the candidature and punitive legal actions. Candidates are thus advised not to apply any kind of external matter like ink, mehandi, chemical etc. on their hands.
• Number of Attempts: The maximum number of chances are fixed for each category. Candidates who have used up all the chances are not eligible to apply. Appearing in Preliminary Exam is not counted as an attempt but appearing in Mains Exam is counted.
pallavi patil 23 June,2020
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