Liberalisation, Privatisation And Globalisation : An Appraisal

Question 41
CBSEENEC11008868

During which peroid, public sector was assigned the leading role in the process of growth and development?

Solution

During the period between 1st and 6th five year plans, public sector was assigned the leading role in the process of growth and development.

Question 42
CBSEENEC11008869

What do you mean by fiscal deficit?

Solution

Fiscal deficit means difference between the total expenditure and total receipts minus loans.

Question 43
CBSEENEC11008870

Why had the fiscal deficit of the Government of India mounting year after year prior to 1991?

Solution

On account of continuous increase in its non-development expenditure.

Question 44
CBSEENEC11008871

What is balance of payments?

Solution

Balance of payments is the difference between total receipts and total payments of a country on account of its economic transactions with the rest of world.

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