Multiple choice

Consider the following statements about economic liberalisation of 1991 in India: (1) It did away the Licence Raj (2) It ended public sector monopoly in many sectors (3) It enhanced Foreign Direct Investment (FDI)

Which of the given statements is/are incorrect?

  1. Only (1)

  2. Only (2)

  3. Only (1) and (3)

  4. None of these

Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The economic liberalisation of 1991 was carried out in response to macroeconomic crises. It ended licence raj and public sector monopoly in many sectors thereby throwing open FDI in many sectors. Corruption is rampant is India. Enumerate the factors that have gone into reducing/addressing it.