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Liberalisation, Privatisation And Globalisation : An Appraisal

Question 13

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What does foreign direct investinent mean?

Solution

It refers to investment directly undertaken by the foreign companies and nationals in various sectors of the economy.

Question 14

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What does fiscal deficit indicate?

Solution

It indicates the borrowing requirements of the government.

Question 15

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How did the government promote exports before 1991?

Solution

Tax concessions and subsidies to exporters.

Question 16

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When was new economic policy adopted?

Solution

The new economic policy was adopted in 1991.

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