CBSE  /  Class 12  /  Economics  /  Liberalisation, Privatisation and Globalisation: An Appraisal

  • 1. 
    Why there was a need for economic reforms in India?

  • Due to fiscal deficit
  • Due to adverse BOP
  • Rise in prices
  • All of the above

  • 2. 
    When did the Gulf Crisis take place?

  • 1985
  • 1990-91
  • 1995
  • 1975

  • 3. 
    How much loan was provided by World Bank and IMF during the nineties to bail India out of the crisis?

  • $10 million
  • $10 billion
  • $7 billion
  • $20 billion

  • 4. 
    What is the main feature of New Economic Policy?

  • Liberalisation
  • Privatisation
  • Globalisation
  • All of the above

  • 5. 
    For how many industries, licensing is still necessary?

  • 7
  • 6
  • 9
  • 10

  • 6. 
    How many industries are entirely reserved for the public sector?

  • 6
  • 10
  • 2
  • 4

  • 7. 
    What is the investment limit in small scale industries?

  • 50 lakh
  • 1 crore
  • 25 lakh
  • 75 crore

  • 8. 
    When was VAT introduced in most of the States of India?

  • 1995
  • 2001
  • 2005
  • 2006

  • 9. 
    How many countries are the members of WTO?

  • 164
  • 120
  • 96
  • 48

  • 10. 
    When was WTO established?

  • 1996
  • 1998
  • 2000
  • 1995
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