Q106
Indian EconomyPlanning, Economic Reforms & Policy
Which of the following is true about the immediate impact of globalisation initiated in 1991?
- a.Increase in informalisation of the economy
- b.Effective access to foreign markets
- c.Decrease in income inequalities
- d.None of the above
Answer: (A) Increase in informalisation of the economy
After 1991 most new jobs were casual, contract or unorganised-sector jobs, while organised-sector employment hardly grew, so the economy became more informal: option (A). Access to developed-country markets stayed limited by their trade barriers, so (B) is not accepted, and income inequalities widened rather than fell, so (C) is wrong.