CH-3 REFORMS SINCE 1991 OR NEW ECONOMIC POLICY (TEST-1)

Economic reforms in India were initiated in the year:

• 1990

• 1991

• 1992

• 1992

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 sectors share

• Purchase 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

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

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

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

• both (a) and (b)

• none of these

External sector reforms under NEP included:

• foreign exchange reforms

• foreign trade policy reforms

• both (a) and (b)

• none of these

(a)   taxes are those taxes, the burden of which can be shifted on to others.

Selling off part of the equity of PSU's is called ______________

• Monopoly

• Privatisation

• Policy reform

• Globalisation