SSC
INDIAN ECONOMY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Identify which of the following is not the reason for introducing economic reforms in India?
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Deficit in Balance of Trade
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Deficit in Balance of Payments
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Excess of foreign exchange reserve
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Rise in Price essential goods
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Explanation:
Detailed explanation-1: -Enter into the field of ‘globalization’ and make the economy more market-oriented. Reduce the inflation rate and rectify imbalances in payment. Increase the growth rate of the economy and create enough foreign exchange reserves.
Detailed explanation-2: -The new Economic Reforms refer to the neo-liberal policies that the Indian Government introduced in 1991. The three main pillars of this Reform were: Liberalization, Globalisation, and Privatization.
There is 1 question to complete.