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WBCS Main Examination 2023 — Paper V: Indian Constitution and Economy · Question 181 of 200

Q181
Indian EconomyPlanning, Economic Reforms & Policy
The First Generation Reforms in India was characterised by
  1. a.Privatisation
  2. b.Liberalisation
  3. c.Globalisation
  4. d.All of the above

Answer: (D) All of the above

The first-generation reforms of 1991 are summed up as LPG — liberalisation of controls and licensing, privatisation (disinvestment and opening sectors to private firms) and globalisation (opening trade and foreign investment). All three characterise them.

Q180 Whole paperQ182