Chapter - 3 CCE

The financial sector in India is regulated by:

• Finance Ministry

• SEBI

• RBI

• World Bank

Post-1991 reforms allowed banks to:

• Set up new branches without RBI approval if conditions met

• Operate without any regulations
  

• Only serve government sectors

• Restrict private investments

The reform policies affected agricultural sector by:

• Increasing public investment
  

• Removing fertilizer subsidies

• Decreasing food prices

• Increasing government support

The reform period witnessed:

• Decline in GDP growth
  

• Rapid growth in GDP for two decades

• Stagnant GDP

• Negative GDP growth

The devaluation of rupee in 1991 led to:

• Decrease in foreign exchange
  

• No change in foreign exchange

• Complete currency collapse

• Increase in foreign exchange

Direct taxes are levied on:

• Commodities only
  

• Services only

• Individual income and business profits

• Import duties

Which of these industries still requires industrial licensing?

• Textiles
  

• Cigarettes

• Electronics

• Software

Which sector received the most benefit from the reform process?

• Agriculture
  

• Mining

• Services

• Manufacturing

The reform policies in trade aimed at:

• Increasing import duties
  

• Restricting foreign trade

• Promoting only exports

• Removing quantitative restrictions

When was the World Trade Organization (WTO) established?

• 1944
  

• 1948

• 1991

• 1995