Liberalisation, Privatisation And Globalisation : An Appraisal

  • Question 37
    CBSEENEC11008864

    Why did India change its economic policies in 1991?

    Solution

    India changed its economic policies in 1991 due to a financial crisis and pressure from international organisations like the World Bank and IMF.

    Question 38
    CBSEENEC11008865

    Name the sector which registered growth during the reforms?

    Solution

    The service sector registered growth during the reforms.

    Question 39
    CBSEENEC11008866

    Name the major external sector reforms.

    Solution

    Major external reforms included foreign exchange, degradation and import liberalisation.

    Question 40
    CBSEENEC11008867

    Name the industries for which licenses are still necessary.

    Solution

    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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