Indian Economic Development

Economic Reforms (1991)

Medium

Which of the following combinations about liberalization are correct?

A. Deregulation of industrial Sector.

B. Rupee was revalued against foreign currencies.

C. Foreign Institutional investors are allowed to invest in Indian financial markets.

D. Removal of export duties.

Choose the correct answer from the options given below:

A, B, and D only

B, C and D only

A, C and D only

A, B, C and D

✅ Correct Option: 3

Liberalization involved deregulation of the industrial sector, allowing Foreign Institutional Investors into Indian financial markets, and removal of export duties. However, the rupee was devalued, not revalued, against foreign currencies in 1991. Hence A, C and D only.

2026: 21 May Shift 1

Arrange the following sequence of events related to liberalization, privatisation and globalisation in chronological order.

(A) General Agreement on Trade and Tariff (GATT)

(B) World Trade Organization (WTO)

(D) Introduction of Goods and Service Tax (GST)

Choose the correct answer from the options given below:

2026: 21 May Shift 1

From which of the following two inernational organisations India had to borrow for its balance of payment crisis?

2026: 6 June Shift 1

GATT stands for_

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: 29 May Shift 2

Match List I with List II

	LIST I		LIST II
A.	Reduction in value of currency	I.	Disinvestment
B.	Dilution of share in organisation	II.	Inflation
C.	Restriction on trade by taxes	III.	Devaluation
D.	Rise in General price level	IV.	Tarrif Barriers

Choose the correct answer from the options given below:

2026: 11 May Shift 2

Match the LIST-I with LIST-II

LIST-I	LIST-II
A. Fiscal policy	I. Specialize in advising companies and managing their equity\debt requirement
B. Multilateral Trade Agreement	II. Optimum utilization of world resources
C. World Trade Organization	III. Actions planned by the government in mobilizing financial resources
D. Merchant Banker	IV. Trade agreement between three or more nations

Choose the correct answer from the options given below:

Solution

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