INSIGHT UPSC QUIZ

In context of LPG reforms ushered in the Indian economy AFTER 1991, consider the following statements:

1. The reform policies led to the establishment of private sector banks, Indian as well as foreign.

2. The financial sector was allowed to take decisions on many matters without consulting the RBI. 

3. Foreign Institutional Investors (FIIs) were denied permission to invest in Indian financial markets. 

Which of the statement(s) given above is/are correct?

Globalisation is the process of rapid integration or interconnection between countries. Which of the following factors enable/influence the process of globalisation?

1. Increasing foreign trade.

2. Improvement in technology. 

3. Reduction in trade barriers. 

4. Need for skilled persons.

Select the correct answer using the code given below:

Arrange the following ‘Non-Tax Revenue’ sources of the Union Government in decreasing order: 

1. Dividends and Profits. 

2. Interest receipts. 

3. Receipts of Union Territories.

4. External Grants.

Select the correct answer using the code given below.

In context of Indian Economy, New Economic Policy (NEP) announced in 1991 by the central government consisted of wide-range of economic reforms which included:

1. Removal of trade restrictions.

2. Promoting overall competitiveness by removing rigidities in various central ministries.

3. Bringing inflation under control.

4. Increasing the output of goods and services.

Which of the statement(s) given above is/are correct with reference to New Economic Policy?

With reference to pre-liberalisation era, which of the following factors were responsible for underdevelopment and stagnation of the Indian economy?

In 1950, the Planning Commission was set up with the Prime Minister as its Chairperson. The era of five-year plans had begun. Which of the statements given below correctly defines the goals of the five-year plans?

Money is accepted as a medium of exchange because the given currency is authorised by the government of the country. Which among the following are modern forms of money/currency?

Consider the following statements:

1. In 1991, as an immediate measure to resolve the balance of payments crisis, the rupee was devalued against foreign currencies.

2. Devaluation is done in order to encourage imports and increase the inflow of foreign currency in an economy.

Which of the statement(s) given above is/are correct?

 With reference to Indian economy, which among the following were the measures undertaken by Indian Government to bring about revolution in agriculture?

In 1991, Indian government introduced a new set of policy measures which changed the direction of our economy. Which among the following were immediate reasons for such a landmark decision?