SSC
INDIAN ECONOMY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Either A or B
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None of the above
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Detailed explanation-1: -Answer: The Indian government after independence had put barriers to foreign trade and investment. This was done to protect the producers within the country from foreign competition. To protect the Indian economy from foreign infiltration in industries affecting the economic growth of the country as planned.
Detailed explanation-2: -The Indian government removed barriers on foreign trade and foreign investment because it felt that competition would improve the performance of producers within the country since they would have to improve their quality.
Detailed explanation-3: -The government decided to remove barriers on foreign trade and investment and introduce a new series of economic reforms in India in the year 1991.