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
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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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