Topics:
CH-3: LIBERALISATION, PRIVATISATION AND GLOBALISATION: AN APPRAISAL, Indian Economic Development, NCERT Books
Liberalisation Definition
Liberalisation was introduced to:
- Increase government control over industries
- Put an end to restrictions and open various sectors of the economy — Correct Answer
- Nationalise all private companies
- Ban foreign investment in India
Explanation:
Correct Answer Explanation
Liberalisation was introduced to put an end to restrictions and open various sectors of the economy.
Key Points:
- Rules and laws aimed at regulating economic activities had become major hindrances in growth.
- A few liberalisation measures were introduced in the 1980s, but 1991 reforms were more comprehensive.
- Key areas: Industrial sector, financial sector, tax reforms, foreign exchange markets, trade and investment.
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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.
