Question : The 1991 economic policy led to the deregulation of which sector in India?
Option 1: Energy
Option 2: Transportation
Option 3: Agriculture
Option 4: Education
Correct Answer: Energy
Solution : The correct answer is (a) Energy
The 1991 economic policy in India led to the deregulation of the energy sector. Prior to the reforms, the energy sector in India was heavily regulated and controlled by the government. The government had a monopoly over the production, distribution, and pricing of energy resources such as electricity, oil, and gas.
As part of the economic reforms, the government introduced measures to liberalize and deregulate the energy sector. This involved reducing government control, promoting competition, and attracting private investments in the sector.
The deregulation of the energy sector aimed to introduce market-oriented reforms, increase efficiency, and improve the availability and reliability of energy resources. It allowed for the entry of private companies into the energy market, which facilitated competition and innovation.
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Question : The 1991 economic policy led to the liberalization of which sector in India?
Option 1: Agriculture
Option 2: Healthcare
Option 3: Services
Option 4: Public transportation
Question : The 1991 economic policy led to the abolition of the:
Option 1: Planning Commission
Option 2: Reserve Bank of India (RBI)
Option 3: Central Board of Direct Taxes (CBDT)
Option 4: Ministry of Finance
Question : Statement 1: Financial sector reforms aimed to improve access to financial services for all sections of society.
Statement 2: The 1991 economic policy led to the nationalization of banks in India.
Option 1: Both statements are true.
Option 2: Both statements are false.
Option 3: Statement 1 is true, and statement 2 is false.
Option 4: Statement 1 is false, and statement 2 is true.
Question : Which is the biggest tax-paying sector in India as of 2016?
Option 1: Agriculture sector
Option 2: Industrial sector
Option 3: Transport sector
Option 4: Banking sector
Question : Which year marked the initiation of economic reforms in India?
Option 1: 1947
Option 2: 1975
Option 3: 1991
Option 4: 2000
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