Indian Economic Development

Economic Reforms (1991)

Easy

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

ADB and World Bank

World Bank and IMF

IMF and UNO

UNESCO and World Bank

✅ Correct Option: 2

During the 1991 balance of payments crisis, India approached the International Bank for Reconstruction and Development (World Bank) and the International Monetary Fund (IMF) and received a loan of about $7 billion, which came with conditions leading to the New Economic Policy.

2026: 23 May Shift 1

Arrange the following in chronological order, starting from the oldest.

A. Introduction of New Economic policy

B. Formation of World Trade Organisation

C. Establishment of General Agreement on Trade and Tariff

D. Removal of quantitative restrictions on imports of manufactured consumer goods and agricultural products

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:

2026: 11 May Shift 1

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

2026: 21 May Shift 2

What were the major problems that the Indian economy was facing before the introduction of new reform policy?

A. Declining foreign exchange.

B. Growing imports without matching rise in exports.

C. Government revenue exceeds expenditure.

D. Rising prices of essential goods.

Choose the correct answer from the options given below:

2024: 16 May

Second phase of Green Revolution is termed from

2023: 29 May Shift 2

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

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

Solution

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