Economic Reforms

New Economic Policy was initiated in the year

• 1980

• 1988

• 1990

• 1991

(1) In 1991, India agreed to the conditionalities of ____ and ______ and announced the New Economic Policy.

• IMF and World Bank
• IMF and WTO

• Asian Development Bank and WTO

• IIB and New Development Bank

-------- refers to disposal of equity of public sector units in the market

• Globalisation

• Privatisation

• Disinvestment

• Liberalisation

• All of these

------ refers to contracting out some of its activities to a third party which were earlier performed by the organisation

• Outsourcing

• Globalisation

• Privatisation

• Liberalisation

-------- involves deregulation and reduction of government controls and greater autonomy of private investment to make economy more competitive .

• Globalisation

• Privatisation

• Liberalisation

• All of these

________ refers to reduction in the value of domestic currency by the government

• Depreciation of rupee

• Devaluation of rupee

• Revaluation of rupee

• Appreciation of rupee

What was the primary trigger for the economic reforms in India in 1991?

• Political instability

• Severe balance of payments crisis

• Natural disaster

• Technological advancements

_______ means removal of entry and growth restrictions on the private sector.

• liberalisation

• privatisation

• globalisation

the aim of _____________ is to integrate the indian economy with the world economy.

• liberalisation

• globalisation

• privatization

Which was the following was one of the most important measures introduced in the foreign trade policy from 1991?

• The reduction of restriction on imports from other countries

• The reduction of restriction on export to other countries

• Above both options are incorrect

• Above both options are correct