Topics:
CH-3: LIBERALISATION, PRIVATISATION AND GLOBALISATION: AN APPRAISAL, Indian Economic Development, NCERT Books
Conditionalities of World Bank and IMF
For availing the $7 billion loan, World Bank and IMF expected India to:
- Nationalise all private companies
- Liberalise and open up the economy — Correct Answer
- Increase tariffs and restrictions
- Close all international trade
Explanation:
Correct Answer Explanation
India was expected to liberalise and open up the economy by: removing restrictions on private sector, reducing government role, removing trade restrictions.
Key Points:
- India agreed to these conditionalities.
- Announced the New Economic Policy (NEP).
📚 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.
