The Economic Reforms of India
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Questions and Answers

Which sector of the Indian economy did a major segment of the population continue to depend on for its livelihood even after achieving self-sufficiency in food grain production?

  • Manufacturing sector
  • Agricultural sector (correct)
  • Mining sector
  • Service sector

What led to the introduction of economic reforms in India in 1991?

  • Technological advancements
  • Political instability
  • Rapid industrialization
  • Balance of payments crisis (correct)

What is the main focus of this unit on economic reforms in India?

  • The role of privatization
  • The background of reform policies (correct)
  • The process of globalization
  • The impact of reforms on agriculture

What will learners comprehend after studying this chapter on economic reforms in India?

<p>The impact of reforms on various sectors (A)</p> Signup and view all the answers

What is the general consensus regarding economic development in the world today?

<p>Economic development is not solely measured by GDP (B)</p> Signup and view all the answers

India has been able to achieve a strong industrial base and became self-sufficient in the production of ______.

<p>food grains</p> Signup and view all the answers

In 1991, a crisis in the balance of payments led to the introduction of economic ______ in the country.

<p>reforms</p> Signup and view all the answers

This unit is an appraisal of the reform process and its implications for ______.

<p>India</p> Signup and view all the answers

After studying this chapter, the learners will understand the background of the reform policies introduced in India in ______.

<p>1991</p> Signup and view all the answers

There is a consensus in the world today that economic development is not all and the ______.

<p>GDP</p> Signup and view all the answers

Match the following terms with their meanings:

<p>Economic Reforms = Policies introduced to improve the economic condition of a country Liberalisation = Relaxation of previous government restrictions usually in areas of social and economic policies Privatisation = Transfer of ownership, property or business from the government to the private sector Globalisation = Process of interaction and integration among people, companies, and governments worldwide</p> Signup and view all the answers

Match the following years with the events they are associated with:

<p>2022-23 = Year mentioned in the economic reform document 1991 = Year of introduction of economic reforms in India After forty years of planned development = Period when India achieved a strong industrial base and became self-sufficient in food grain production</p> Signup and view all the answers

Match the following sectors with their characteristics:

<p>Industrial sector = India achieved a strong base in this after forty years of planned development Agriculture = A major segment of the Indian population depends on this for livelihood Economic = Sector impacted by the reform policies introduced in India in 1991</p> Signup and view all the answers

Match the following terms with their definitions:

<p>GDP = A measure of economic activity within a country Reform process = Series of actions taken to improve a system Economic development = Improvement in the economic wellbeing of a country</p> Signup and view all the answers

Match the following objectives with their corresponding study topics:

<p>Understanding the background of the reform policies introduced in India in 1991 = Objective of studying the chapter on economic reforms Comprehending the process of globalisation and its implications for India = Objective of studying the chapter on liberalisation, privatisation, and globalisation Being aware of the impact of the reform process in various sectors = Objective of studying the chapter on India's economic reforms since 1991</p> Signup and view all the answers

True or false: India achieved self-sufficiency in food grain production after forty years of planned development?

<p>True (A)</p> Signup and view all the answers

True or false: Economic reforms were introduced in India in 1991 due to a crisis in the balance of payments?

<p>True (A)</p> Signup and view all the answers

True or false: This unit on economic reforms is an appraisal of the reform process and its implications for India?

<p>True (A)</p> Signup and view all the answers

True or false: Globalization has no implications for India?

<p>False (B)</p> Signup and view all the answers

True or false: There is a consensus in the world today that economic development is the sole focus and measure of progress?

<p>False (B)</p> Signup and view all the answers

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