Indian Economic Development

Economic Reforms (1991)

Medium

Liberation of trade and investment regime was initiated in the Indian Economy in 1991 to provide for:

A. International competitiveness of industrial production.

B. Promotion of competitiveness of local industries.

C. Collection of higher tariffs.

D. Adoption of modern technologies

E. Control over imports.

Choose the correct answer from the options given below:

A, B and C

B, D and E

A, B and D

C, D and E

✅ Correct Option: 3

The 1991 reforms aimed at international competitiveness of industrial production (A), promotion of competitiveness of local industries (B), and adoption of modern technologies (D). Higher tariffs (C) and control over imports (E) were features of the pre-reform regime, not the post-1991 liberalization.

2023: 28 May Shift 2

Some Scholars question the usefullness of India being a member of the __________ organisation as a major volume of international trade occurs among the developed nations. Identify the organisation.

2026: 11 May Shift 2

Which of the following is NOT true for Globalisation as adopted by India under 'New Economic Policy-1991'?

2026: 15 May Shift 1

As per Foreign Exchange Reforms, in 1991, as an immediate measure to resolve the balance of payments crisis, the rupee was ____________ against foreign currencies.

2026: 11 May Shift 1

What does NEP stand for, with reference to the 1991 economic reforms in India?

2023: 11 June Shift 3

Match List - I with List - II.

List - I	List - II
(A) Maharatna	(I) Airports Authority of India
(B) Navratna	(II) Steel Authority of India Limited
(C) Miniratna	(III) Voice-based business processes
(D) Outsourcing	(IV) Mahanagar Telephone Nigam Limited

Choose the correct answer from the options given below :

2026: 13 May Shift 2

Which is NOT an example of public enterprise with their status as 'Miniratnas'?

Solution

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