Time management is crucial for UPSC aspirants as it ensures they make the most of their study hours and avoid procrastination. Effective time management allows candidates to assign specific time slots for subjects, revision, and practice. It helps create a disciplined routine that balances intensive study with rest and recreation. By setting achievable goals and prioritizing tasks, aspirants can streamline their efforts, reducing stress and enhancing overall productivity which is key to succeeding in such a competitive examination.