Indian Economic Development

Economic Reforms (1991)

Medium

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:

A, C, B, D

B, C, A, D

C, A, B, D

C, B, D, A

✅ Correct Option: 3

GATT was established in 1948 (C), the New Economic Policy was introduced in 1991 (A), the WTO was formed in 1995 (B), and quantitative restrictions on imports of manufactured consumer goods and agricultural products were removed in 2001 (D). Hence the order is C, A, B, D.

2024: 16 May

Second phase of Green Revolution is termed from

2026: 20 May Shift 1

Which of the following public sector enterprise is a part of Maharatnas?

2026: 19 May Shift 2

Match the LIST-I with LIST-II in respect to different reforms took place in Indian Economy.

LIST-I	LIST-II
A. Foreign Exchange Reform	I. Reducing the role of RBI
B. Industrial Sector Reform	II. Devaluation of domestic currency
C. Financial Sector Reform	III. Increase international Competitiveness
D. Trade and Investment Policy Reform	IV. Market allowed to determine the prices

Choose the correct answer from the options given below:

2023: 20 June Shift 1

Which of the following was not an industrial reform policy introduced in India in and after 1991?

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: 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:

Solution

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