Indian Economic Development

Economic Reforms (1991)

Easy

The predecessor organisation to World Trade Organisation was ________.

International Bank for Reconstruction and Development (IBRD)

International Monetary Fund (IMF)

Reserve Bank of India (RBI)

General Agreement on Tariffs and Trade (GATT)

✅ Correct Option: 4

The General Agreement on Tariffs and Trade (GATT) was established in 1948 to regulate international trade by reducing tariffs and other trade barriers. It was replaced by the World Trade Organisation (WTO) in 1995. IBRD and IMF are Bretton Woods institutions dealing with development and monetary stability respectively. RBI is India's central bank.

2026: 20 May Shift 1

Arrange the following according to their established / implementing year in chronological order (oldest to latest).

(A) New Economic Policy was introduced.

(B) The General Agreement On Tariffs And Trade (GATT).

(D) Goods and Service Tax.

Choose the correct answer from the options given below:

2023: 1 June Shift 1

Arrange the following in Chronological sequence :

(A) Economic reforms in India

(B) Green revolution in India

(D) Independence of India

Choose the correct answer from the options given below :

2023: 20 June Shift 1

Full form of FII.

2022: 15 July Shift 2

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:

2023: 28 May Shift 2

Adoption of new technology is called __________.

2023: 29 May Shift 2

_________ measures are _________ measures intended to correct some of weaknesses that have developed in the Balance of payment.

The predecessor organisation to World Trade Organisation was ________.

Solution

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