Attempt this previous-year question. The correct option stays hidden until you choose.
Which of the following has/have occurred in India after its liberalization of economic policies in 1991?
1. The share of agriculture in GDP increased enormously.
2. The share of India’s exports in world trade increased.
3. FDI inflows increased.
4. India’s foreign exchange reserves increased enormously.
Select the correct answer using the codes given below :
Pick an option to check yourself.
• Correct Answer: B
• Post-1991 liberalization, India's share in world trade, FDI inflows, and forex reserves increased significantly due to dismantling of the License Raj.
• Agriculture's share in GDP declined steadily from ~30% to ~15%, shifting toward services and manufacturing.
• Statement 1 is incorrect; statements 2, 3, and 4 are correct.
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