Why did India change its economic policies in 1991?
India changed its economic policies in 1991 due to a financial crisis and pressure from international organisations like the World Bank and IMF.
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Name the sector which registered growth during the reforms?
The service sector registered growth during the reforms.
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Name the major external sector reforms.
Major external reforms included foreign exchange, degradation and import liberalisation.
Name the industries for which licenses are still necessary.
Licenses are still necessray for the following six industries:
(i) Alcohol, (ii) Cigarettes, (iii) Hazardous Chemicals, (iv) Industrial Explosives, (v) Electronics, (vi) Aerospace and drugs.
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Mock Test Series
