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 a “repo rate”?
View QuestionWhat does “balance of trade” refer to?
View QuestionWhich of the following is NOT an example of an indirect tax?
View QuestionWhat is the objective of the Goods and Services Tax (GST)?
View QuestionWhat is “CRR” in banking terminology?
View QuestionWhich of the following is an example of a public sector undertaking (PSU) in India?
View QuestionWhich of the following is NOT an example of a direct tax?
View QuestionWhich of the following sectors contributes the most to India’s GDP?
View QuestionWhich of the following is a feature of a command economy?
View QuestionWhat is the Phillips Curve?
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