GK
INDIAN ECONOMY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Avoiding imports
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Produce goods in India which are imported from abroad
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Export promotion
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None of these
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Detailed explanation-1: -Self-reliance means avoiding imports of those goods which could be produced domestically. Achieving self-reliance was considered important for a developing country like India to reduce the country’s dependence on foreign products, especially for food.
Detailed explanation-2: -India has emerged as a self-assured and self-reliant nation which believes in working together for the collective well-being, but rejects interference in its internal matters. This was stated by Raksha Mantri Shri Rajnath Singh at an event in New Delhi on December 09, 2022.
Detailed explanation-3: -This fiscal, India’s export growth has been extremely sluggish despite the falling value of the Rupee. The government’s traditional explanation that India’s high import bill is on account of petroleum is unacceptable. It is true that the country is 86 per cent import dependent on crude oil.