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Liberalisation, Privatisation And Globalisation : An Appraisal

Question 101
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Write down the two components of NEP, 1991.

Solution

The two components of NEP 1991 are : (i) macro-economic stabilisation and (ii) structural measures.

Question 102
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Name the three multilateral economic institutions.

Solution

IMF, 2. World Bank and 3. WTO.

Question 103
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How much billion American dollar did India get as loan from World Bank and IMF?

Solution

7 billion.

Question 104
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What did World Bank and IMF expect from India for availing the loan of 7 billion dollar?

Solution

World Bank and IMF expected India to liberalise and open up the economy by removing restrictions on the private sector, reduce the role of government in many areas and remove trade restrictions between India and other countries.

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