Economic Reform since 1991

Economic reforms in India were initiated in the year:

• 1990

• 1991

• 1992

• 1993

Liberalisation implies

• greater role of public sector

• reduction in government control over the private sector

• free economy with no controls

• none of these

Which of the following is not an element of fiscal reforms?

• Taxation reforms

• Public expenditure reforms

• Change in interest rate

• Control on public debt

Which of the following is not a component of privatisation?

• Contraction of public sector

• Disinvestment in public sector enterprises

• Sale of public sector's share

• Purchases of industrial shares by the government

Which of the following is an element of financial sector of the economy?

• Banking and non-banking financial institutions

• Stock exchange market

• Foreign exchange market

• All of these

Which of the following is an example of indirect tax?

• Income tax

• Wealth tax

• Goods and services tax

• None of these

Which of the following is the strategy to promote globalization of the Indian Economy?

• Partially convertibility

• Reduction in tariffs

• Increase in equity limit of foreign investment

• All of these

In the context of Indian experience, controls were imposed by the government with a view to:

• checking the growth of private monopolies

• minimising the hold of large industrial houses on the financial resources of the country

• both (a) and (b)

• none of these

Liberalisation of the economy under the new economic policy changed the role of RBI in the economy:

• from a ' regular' to ' facilitator' of the financial sector

• from a ' controller' to 'manager' of the government debt

• Both (a) and (b)

• none of these

Industrial sector reforms under the New Economic Policy (NEP) comprised which of the following?

• Abolition of industrial licencing

• De-reservation of production areas

• Contraction of public sector

• All of these