Liberalisation

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  • Q1

    Consider the following statements and identify the Wrong one.

    Marks:1
    Answer:

    Before 1991 the Industries were not required to register themselves or get work permit or license from the government as they are free to work for economic growth.

    Explanation:

    Before 1991, regulatory system of licensing and control exists. Industries under this were required to get registered and were granted licenses by the government as a work permit.

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  • Q2

    SEBI stands for ___________.

    Marks:1
    Answer:

    Securities and Exchange Board of India

    Explanation:

    SEBI stands for Securities and Exchange Board of India. It was setup to keep an eye on functioning of the capital market.

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  • Q3

    ____________ presented his path-breaking reformist budget in 1991.

    Marks:1
    Answer:

    Dr. Manmohan Singh

    Explanation:

    Dr. Manmohan Singh presented his path-breaking reformist budget in 1991. This changed the Indian history and today India is the second fastest growing economy in world after China.

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  • Q4

    _____________ is the policy of deregulation of different segments of economy.

    Marks:1
    Answer:

    Liberalisation

    Explanation:

    Liberalisation is the policy of deregulation of different segments of economy. It is the policy of reducing the government control over industry, foreign exchange, imports and other activities existed before 1991.

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  • Q5

    In 1991 Indian economy faced ______________.

    Marks:1
    Answer:

    Major Foreign Exchange Crises

    Explanation:

    In the year 1991, Indian economy faced an acute shortage of foreign exchange. Between January 1991 and June 1991, India faced a situation in which it had foreign exchange just enough to meet the import needs of only about three weeks.

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