Topics:
CH-3: LIBERALISATION, PRIVATISATION AND GLOBALISATION: AN APPRAISAL, Indian Economic Development, NCERT Books
Profligate Spending
Before 1991, foreign exchange borrowed from other countries was sometimes spent on:
- Building export industries
- Meeting consumption needs — Correct Answer
- Developing infrastructure only
- Repaying other debts only
Explanation:
Correct Answer Explanation
Foreign exchange was sometimes spent on meeting consumption needs rather than productive investment.
Key Points:
- No attempt to reduce profligate spending.
- Insufficient attention to boost exports to pay for growing imports.
📚 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.
