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.
Which of the following best describes “capital formation”?
View QuestionWhich of the following measures is most effective in controlling inflation?
View QuestionWhich is the largest source of tax revenue for the Government of India?
View QuestionWhich of the following is NOT an example of a direct tax?
View QuestionWhat is the main feature of a free-market economy?
View QuestionWhat is the concept of “invisible hand” associated with?
View QuestionWhich of the following is an example of a non-renewable resource?
View QuestionWhat is “open market operations” (OMO)?
View QuestionWhich of the following sectors contributes the most to India’s GDP?
View QuestionWhat does the term “capital account” refer to in the balance of payments?
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