Economic Reforms

The economic reforms of 1991 are also known as:

• Green Revolution

• New Economic Policy

• Industrial Revolution

• Five Year Plan

Who was the Finance Minister during 1991 economic reforms?

• Atal Bihari Vajpayee

• P. Chidambaram

• Manmohan Singh

• Pranab Mukherjee

Liberalisation refers to:

• Increased government control

• Removal of trade barriers and restrictions

• Increase in subsidies

• Nationalisation of banks

Privatisation implies:

• Transfer of ownership to government

• Increase in public sector undertakings

• Transfer of ownership to private sector

• None of these

Globalisation means:

• Closing economy to foreign trade

• Integrating domestic economy with world economy

• Restricting imports

• Reducing exports

Which of the following is an example of privatisation?

• Imposing quotas

• Disinvestment of PSUs

• Increase in taxes

• Imposing licensing system

Full form of WTO is:

• World Tourism Organisation

• World Trade Organisation

• World Transport Organisation

• World Technology Organisation

The New Economic Policy was introduced in:

• 1985

• 1990

• 1991

• 1995

Which sector was affected most by liberalisation?

• Agriculture

• Industry

• Services

• Mining

Disinvestment refers to:

• Increase in government investment

• Sale of government's shares in PSUs

• Increase in private investment

• Purchase of shares by government