Subject: Economics
Book: Comprehensive Indian Economy
In 1991, India faced a severe balance of payments crisis that triggered sweeping reforms known as Liberalization, Privatization, and Globalization (LPG). These reforms dismantled the license-quota system, opened markets to foreign investment, devalued the rupee for export competitiveness, and paved the way for private sector efficiency. The goal was to integrate India with the global economy and revive growth by reducing state controls. Exam-oriented insights include the reasons for the crisis, specifics of structural adjustment policies, and the impact on sectors like banking, trade, and manufacturing over subsequent decades.
What is the concept of “invisible hand” associated with?
View QuestionWhich of the following measures can reduce a trade deficit?
View QuestionWhich of the following measures is most effective in controlling inflation?
View QuestionWhat is the purpose of the "Minimum Support Price" (MSP) in India?
View QuestionWhich organization is responsible for estimating India’s Gross Domestic Product (GDP)?
View QuestionWhat does “primary sector” of the economy include?
View QuestionWhat is the main feature of a free-market economy?
View QuestionWhich of the following causes demand-pull inflation?
View QuestionWhat is “inflation targeting”?
View QuestionWhich of the following is an example of a renewable resource?
View Question