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Consider the following statements regarding the impact of Economic liberalisation industrialisation in India:
1. The process of industrialization in India can be divided into two parts – before and after 1992.
2. In August 1992, Government of India took a bold step by changing its economic policies from state control to market forces.
3. The immediate cause of these changes in economic policy was to tide over balance of payment crises but having wide social, economic, political and geographical implications.
Which of the following statement(s) is/are correct?
  • a)
    1 Only
  • b)
    1 and 2 Only
  • c)
    2 and 3 only
  • d)
    All of the above
Correct answer is option 'D'. Can you explain this answer?
Verified Answer
Consider the following statements regarding the impact of Economic li...
  • The process of industrialization in India can be divided into two parts – before and after 1992.
  • During the first forty years after independence the Indian economy had diversified and expanded very fast. But this growth was characterized by rigid controls and regulations. In August 1992, Government of India took a bold step by changing its economic policies from state control to market forces.
  • A need was felt to give more responsibility to private capital and enterprise, both domestic as well as foreign. In response to this, the new industrial policy of liberalization, privatisation and globalization was adopted in August 1992.
  • The immediate cause of these changes in economic policy was to tide over balance of payment crises but having wide social, economic, political and geographical implications.
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Consider the following statements regarding the impact of Economic liberalisation industrialisation in India:1. The process of industrialization in India can be divided into two parts – before and after 1992.2. In August 1992, Government of India took a bold step by changing its economic policies from state control to market forces.3. The immediate cause of these changes in economic policy was to tide over balance of payment crises but having wide social, economic, political and geographical implications.Which of the following statement(s) is/are correct?a)1 Onlyb)1 and 2 Onlyc)2 and 3 onlyd)All of the aboveCorrect answer is option 'D'. Can you explain this answer?
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Consider the following statements regarding the impact of Economic liberalisation industrialisation in India:1. The process of industrialization in India can be divided into two parts – before and after 1992.2. In August 1992, Government of India took a bold step by changing its economic policies from state control to market forces.3. The immediate cause of these changes in economic policy was to tide over balance of payment crises but having wide social, economic, political and geographical implications.Which of the following statement(s) is/are correct?a)1 Onlyb)1 and 2 Onlyc)2 and 3 onlyd)All of the aboveCorrect answer is option 'D'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements regarding the impact of Economic liberalisation industrialisation in India:1. The process of industrialization in India can be divided into two parts – before and after 1992.2. In August 1992, Government of India took a bold step by changing its economic policies from state control to market forces.3. The immediate cause of these changes in economic policy was to tide over balance of payment crises but having wide social, economic, political and geographical implications.Which of the following statement(s) is/are correct?a)1 Onlyb)1 and 2 Onlyc)2 and 3 onlyd)All of the aboveCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements regarding the impact of Economic liberalisation industrialisation in India:1. The process of industrialization in India can be divided into two parts – before and after 1992.2. In August 1992, Government of India took a bold step by changing its economic policies from state control to market forces.3. The immediate cause of these changes in economic policy was to tide over balance of payment crises but having wide social, economic, political and geographical implications.Which of the following statement(s) is/are correct?a)1 Onlyb)1 and 2 Onlyc)2 and 3 onlyd)All of the aboveCorrect answer is option 'D'. Can you explain this answer?.
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