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Economics · 2024 · 3 marks
Liberalisation, Privatisation and Globalisation: An AppraisalLiberalisation3 marksUnderstandshort answer
CBSE 2024 · Region 3 · Set 1 · Q28
(a) “Trade and Investment Policy of India had undergone comprehensive changes in the post reforms period of 1991.” Do you agree with the given…
(a)
“Trade and Investment Policy of India had undergone comprehensive changes in the post reforms period of 1991.”
Do you agree with the given statement ? Justify your answer with any two valid arguments.
OR
(b)
Discuss any two salient features of Indian industrial sector during the period of $\displaystyle 1950$ – 1990.
Marking-scheme solution
Yes. Trade and Investment Policy of India had undergone comprehensive changes in the post reforms period of 1991. Liberalisation of this policy led to an increase in international competitiveness of industrial production and inflow of foreign investments and technology.
These policy reforms aimed at dismantling the structure of quantitative restrictions, reducing tariffs and relaxation in licensing procedure in foreign trade. Export duties were rationalised with an objective to promote exports of Indian goods in international markets.
Two salient features of Indian Industrial Sector during the period of $\displaystyle 1950$-$\displaystyle 1990$ are:
Public sector was assigned a predominant role in the process of industrial development of the economy.
Small scale industries were promoted with an objective to generate employment opportunities in the economy.
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CBSE Class 12 Economics past-paper question from the 2024 board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.