economic Reforms Flashcards
Economic reforms refer to a set of economic policies directed to accelerate the pace of
Growth and development
In which year india launched the new economic policies
1991
Components of NEP Are
- Policy of liberation
- Policy of privatisation
- Policy of Globalisation
Which bank is called International Bank for reconstruction and development
World Bank
_ is a process of involving the private sector in the ownership or operation of a state owned enterprise
Privatisation
_ of the economy means freedom of the producing units from direct or physical control of the government
Liberalisation
Countries that had achieved raped growth due to liberalisation were
Korea , Thailand , Singapore
In which year and month the new industrial policy was announced to abolish license of licensing ?
July 1991
For which industries the licensing was not abolished?
*Liquor
*Cigarette
*Defence equipments
*Industrial Explosives
Dangerous chemicals
Economic reforms under liberalisation were ?
- Industrial reforms
- Financial Sector Reforms
- Tax Reforms
NEP Number of industries reserved for public sector was reduced to -
17 to 8
In which year the number of industries were reduced to merely 3
2010- 2011
In 2010- 11 which three industries were of public sector?
- Atomic energy
- RAILWAY
- defence equipments
During NEP is it true that now a matter of producers choice depending on market conditions
True
In india which bank is controlled by financial sector
RBI
Financial sector include what ?
#Banking and non banking financial institutions #Stock exchange Market #Foreign exchange Market
FII Stands for -
Foreign Institutional Investment
Because of liberalisation RBI shifted for a regulator to what ?
Facilitator
The RBI would only facilitate the free play of Market forces and leave it to commercial banks to decide the interest rate it symbolises which function of RBI
Facilitator
Before liberalisation RBI act as a -
Regulator
Foreign investment limit in banks was raised to what %
74 %
In which year was demonitisation introduced
2016
Demonitisation withdraws the status of what
Legal tender
On which date govt announced demonitisation
8 Nov , 2016
