Topics:
CH-3: LIBERALISATION, PRIVATISATION AND GLOBALISATION: AN APPRAISAL, Indian Economic Development, NCERT Books
Origin of Financial Crisis
The origin of India's 1991 financial crisis can be traced to the inefficient management of the economy in the:
- 1960s
- 1970s
- 1980s — Correct Answer
- 1990s
Explanation:
Correct Answer Explanation
The origin can be traced to the inefficient management of the Indian economy in the 1980s.
Key Points:
- Government expenditure exceeded revenue by large margins.
- Foreign exchange was spent on consumption needs instead of productive use.
- No attempt to reduce profligate spending or boost exports.
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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.
