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Economics · 2025 · 3 marks
Liberalisation, Privatisation and Globalisation: An AppraisalLiberalisation3 marksUnderstandshort answer
CBSE 2025 · Region 5 · Set 2 · Q29
(a) “The trade and investment policy initiated by the Indian Government during 1991 economic reforms involved some major decision-making with respect…
(a)
“The trade and investment policy initiated by the Indian Government during $\displaystyle 1991$ economic reforms involved some major decision-making with respect to local industries.”
Elaborate any two major decisions and their respective impacts on the Indian economy.
OR
(b)
“British colonial rule in India resulted into systematic deindustrialisation of Indian indigenous industries.”
Explain the two-fold motive of the British with valid arguments.
Marking-scheme solution
The trade and investment policy reforms initiated by the Indian Government during $\displaystyle 1991$ aimed at dismantling the structure of quantitative restrictions and reduction of tariff rates.
Liberalisation of this policy led to an increase in competitive position of Indian goods in the international markets and inflow of foreign investments and technology.
The two-fold motive of the British colonial rule in India was to:
reduce India to the status of a mere exporter of important raw materials for the upcoming modern industries in Britain.
turn India into a sprawling market for their finished products to ensure the maximum advantage of their home country.
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