Topics:
CH-3: LIBERALISATION, PRIVATISATION AND GLOBALISATION: AN APPRAISAL, Indian Economic Development, NCERT Books
Loan from World Bank and IMF
India received how much loan from the World Bank and IMF to manage the 1991 crisis?
- $3 billion
- $5 billion
- $7 billion — Correct Answer
- $10 billion
Explanation:
Correct Answer Explanation
India received $7 billion as loan from the World Bank and IMF to manage the crisis.
Key Points:
- IBRD (International Bank for Reconstruction and Development) is popularly known as World Bank.
- For availing the loan, India was expected to liberalise and open up the economy.
- Conditions: Remove restrictions on private sector, reduce government role, remove trade restrictions.
📚 About this Topic — CH-3: LIBERALISATION, PRIVATISATION AND GLOBALISATION: AN APPRAISAL
This multiple choice question is from CH-3: LIBERALISATION, PRIVATISATION AND GLOBALISATION: AN APPRAISAL, Indian Economic Development, NCERT Books. It has 4 options with a detailed explanation of the correct answer. Practice more MCQs from CH-3: LIBERALISATION, PRIVATISATION AND GLOBALISATION: AN APPRAISAL to strengthen your preparation.
