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Questions and Answers
What led to the adoption of a broad economic liberalisation in India in 1991?
What led to the adoption of a broad economic liberalisation in India in 1991?
- Excessive government spending
- Sustained high GDP growth
- Failure of the free market system
- Acute balance of payments crisis (correct)
What was the economic policy of India like after independence until 1991?
What was the economic policy of India like after independence until 1991?
- Focused on socialist economic policies with minimal state intervention
- Encouraged free market capitalism and minimal government intervention
- Promoted protectionist economic policies and extensive Sovietization (correct)
- Implemented strict laissez-faire economic principles
Which sector fuelled India's GDP apart from private consumption?
Which sector fuelled India's GDP apart from private consumption?
- Exports
- Foreign aid
- Investments
- Government spending (correct)
What drives nearly 70% of India's GDP?
What drives nearly 70% of India's GDP?
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In 2022, what was India's global rank as an exporter?
In 2022, what was India's global rank as an exporter?
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What type of economy does India have?
What type of economy does India have?
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What is India's global rank by nominal GDP?
What is India's global rank by nominal GDP?
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What crisis led to the adoption of broad economic liberalisation in India in 1991?
What crisis led to the adoption of broad economic liberalisation in India in 1991?
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What percentage of India's GDP is driven by domestic consumption?
What percentage of India's GDP is driven by domestic consumption?
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What has been the annual average GDP growth in India since the start of the 21st century?
What has been the annual average GDP growth in India since the start of the 21st century?
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