Liberalisation , Privatisation and Globalisation Test - 1

Which of the following are correct regarding growth during the reform period?
1. The growth of agriculture declined. 
2. Theservice sector reported fluctuation.
3. The growth of industrial sectors has gone up. 
4. The growth during this phase was mainly driven by the growth in the service sector.
Select the correct answer using the codes given below

Consider the below statements:
1. The foreign investment, which includes foreign direct investment (FDI) and foreign institutional investment (FII), has increased from about US $ 100 million in 1990-91 to US $ 467 billion in 2012-13. 
2. There has been an increase in the foreign exchange reserves from about US $ 6 billion in 1990-91 to about US $ 304 billion in 2013-14. 
3. India is one of the largest foreign exchange reserve holders in the world.
Select the correct statements using the codes given below:

Evaluate the below results of the economic reforms process of India:
1. India is seen as a successful exporter of auto parts, engineering goods, IT software and textiles in the reform period.
2. The reform process has been widely appreciated for being able to address all of the ‘basic ’problems facing our economy.
Q. Which of the above statements is/are not correct?

Consider the impact of economic reforms on agriculture:
1. Public investment in agriculture sector has increased only slightly, in the reform period.
2. The removal of fertiliser subsidy has led to increase in the cost of production, which has severely affected the small and marginal farmers.
Q. Which of the above statements is/are correct?

Which of the following are correct with regard to policies in the agriculture sector during the reform period?
1. This sector has been experiencing a more or less same policy which has adversely affected Indian farmers as they now have to face increased international isolation.  
2. The focus has mostly been on the production of food grains for the domestic market.
Q. Which of the above statements is/are correct?

Industrial growth in India has recorded a slowdown in the period of economic reforms. What are the reasons for this?
1. Decreasing demand of domestic industrial products  
2. Globalization
3. India still does not have the access to developed countries ’markets because of high non-tariff barriers.
Select the correct statements using the codes given below:

Multiple Choice Questions which will help them to assess their level of preparation:
1. The central government has missed its disinvestment target almost every year, except in four years, from 2000-01 to 2013-14.  
2. The government had a disinvestment target of Rs. 58,425 crore in 2014-15 but could not achieve even 50% of the target.
Q. Which of the above statements is/are not correct?

Which of the following are correct with reference to economic reforms (LPG reforms) and public policies?
1. Economic reforms have placed limits on the growth of public expenditure especially in social sectors.
2. The reform policies involving tariff reduction have curtailed the scope for raising revenue through customs duties.
3. In order to attract foreign investment, tax incentives were provided to foreign investors which further reduced the scope for raising tax revenues.
Select the correct statements using the codes given below:

Consider the below statements about WTO:
1. The WTO was founded in 1995 as the successor organisation to the International Treaty for Trade (ITT). 
2. WTO is expected to establish a modern trading regime in which nations have the right to place suitable restrictions on trade.
3. In addition, its purpose is also to enlarge production and trade of services, to ensure optimum utilisation of world resources and to protect the environment.
Select the incorrect statements using the codes given below:

Which of the following statements reflect the correct picture of reforms?
1. In the domestic economy, major reforms were undertaken in the industrial and financial sectors. 
2. Major external sector reforms included foreign exchange deregulations and import liberalisation.
Q. Which of the above statements is/are correct?