Topics:
CH-3: LIBERALISATION, PRIVATISATION AND GLOBALISATION: AN APPRAISAL, Indian Economic Development, NCERT Books
Trade Policy Pre-Reform
Before reforms, India protected domestic industries through:
- Free trade policies
- Quantitative restrictions on imports and high tariffs — Correct Answer
- Low tariffs and no import controls
- Export promotion only
Explanation:
Correct Answer Explanation
India followed a regime of quantitative restrictions on imports and kept tariffs very high.
Key Points:
- These policies reduced efficiency and competitiveness.
- Led to slow growth of manufacturing sector.
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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.
