Tag: history

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Multiple choice history economic system and economic policies american dominance, neo-imperialism and new economic policy insights on lpg changing economic policies

As a result of the New Industrial Policy $1991$:

  1. Prior approval of central government is required for establishing new unit undertakings, and expanding the present undertaking.
  2. An industry intending to have more than $100$ crore of assets is required to obtain the permission of the central government.

  3. Prior approval of central government for establishing new undertakings and expanding existing undertaking is not required.

  4. Two or more companies deciding to amalgamate are required to take the prior approval of the central government.
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

New Economic Policy 1991 removed all the restrictions of central government from the private sectors. Thus as a consequence, prior approval of central government for establishing new undertakings and expanding existing undertaking is not required. Three main agendas of new economic policy 1991 are- liberalization, privatization and globalization.

Multiple choice history economic system and economic policies american dominance, neo-imperialism and new economic policy insights on lpg changing economic policies

Which industry from the following is not reserved for public sector?

  1. Atomic energy

  2. Defense

  3. Rail transport

  4. None of the above.
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The question asks which industry is NOT reserved for the public sector. Since Atomic Energy and Rail Transport are reserved for the public sector, and the options provided are limited, 'None of the above' is the correct choice because all listed industries are indeed reserved.

Multiple choice history economic system and economic policies american dominance, neo-imperialism and new economic policy insights on lpg changing economic policies

Before financial reforms, the banking system was characterised with all of the following except:

  1. Administered interest rates structure

  2. Quantitative restrictions on credit flow

  3. High revenue requirements

  4. Keeping very less lend-able resources for the priority sector
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Prior to New Economic Policy !991, a very high lend-able resources were kept for the priority sector. Administered interest rates structure, quantitative restriction on credit flow and high revenue requirements- are other features prevalent in the Indian economy prior to financial reforms of new economic policy.

Multiple choice history economic system and economic policies american dominance, neo-imperialism and new economic policy insights on lpg changing economic policies

International Monetary Fund (IMF) was established in ______________.

  1. 1945

  2. 1956

  3. 1966

  4. 1976.
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

IMF stands for International Monetary Fund. It was established in 1995. Headquarter of IMF is in Washington DC. It has 189 countries as members as of 2018. It is established to promote financial stability of the member countries.

Multiple choice history economic system and economic policies american dominance, neo-imperialism and new economic policy insights on lpg changing economic policies

World Bank works with the primary focus of helping the _____________.

  1. poorest people

  2. poorest countries

  3. poorest industrially developed country

  4. poorest people and the poorest countries
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

World Bank is a financial institution that provide loans to its member countries. It mainly works with primary focus of helping the poorest people and the poorest countries. Encouragement of capital and environmental protection are other two objectives of the World Bank. It comprises two institutions: the International Bank for Reconstruction and Development, and the International Development Association.

Multiple choice history economic system and economic policies american dominance, neo-imperialism and new economic policy insights on lpg changing economic policies

World Bank provides ___________ on reasonable terms to its member countries.

  1. long term investment loan

  2. short term investment loan

  3. infrastructure loan

  4. mid-term investment loan
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

World Bank is an financial institution which was founded in 1945 at Bretton Woods. The headquarter of World Bank is in Washington DC. The main function of World Bank is to provide long term investment loans to its member countries. It comprises of two institutions: the International Bank for Reconstruction and Development and the International Development Association.

Multiple choice history economic system and economic policies american dominance, neo-imperialism and new economic policy insights on lpg changing economic policies

International Monetary Fund has recently rated India as the ___________ largest economy in the world.

  1. fifth

  2. sixth

  3. second

  4. tenth
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Economic rankings change frequently. At the time this question was likely drafted, India was often cited as the sixth-largest economy by nominal GDP.