Subject: Economics
Book: Comprehensive Indian Economy
In 1991, India faced a severe balance of payments crisis that triggered sweeping reforms known as Liberalization, Privatization, and Globalization (LPG). These reforms dismantled the license-quota system, opened markets to foreign investment, devalued the rupee for export competitiveness, and paved the way for private sector efficiency. The goal was to integrate India with the global economy and revive growth by reducing state controls. Exam-oriented insights include the reasons for the crisis, specifics of structural adjustment policies, and the impact on sectors like banking, trade, and manufacturing over subsequent decades.
What is the objective of the Goods and Services Tax (GST)?
View QuestionWhat is the primary purpose of Special Economic Zones (SEZs)?
View QuestionWhat does the term “capital account” refer to in the balance of payments?
View QuestionWhat is the term for the ability of an economy to produce more output from the same inputs?
View QuestionWhich of the following is NOT an example of a direct tax?
View QuestionWhich of the following is a characteristic of “perfect competition”?
View QuestionWhat is meant by “crowding out” in economics?
View QuestionWhat is the primary role of the Securities and Exchange Board of India (SEBI)?
View QuestionWhat is the “law of diminishing marginal utility”?
View QuestionWhich of the following is a feature of monopolistic competition?
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