MCQ Chapter 9 Economics Class 11 Maharashtra Board Economic Policy of India Since 1991 1. What was the rate of inflation in August 1991?10.3%14.5%12.1%16.7%Question 1 of 202. What was one major reason behind the economic crisis of 1991 in India?Excess foreign exchange reservesIncrease in agricultural productionGovernment expenditure exceeding revenueDecline in industrial developmentQuestion 2 of 203. What policy did India adopt in response to the 1991 economic crisis?Industrial Policy of 1956New Economic PolicyFive-Year PlanGreen Revolution PolicyQuestion 3 of 204. Which of the following was a key objective of the New Economic Policy of 1991?Promote unemploymentIncrease inflationCorrect the balance of paymentsDecrease exportsQuestion 4 of 205. Which industry still requires compulsory licensing as per current policy?Automobile industryTextile industryCigarettesFood processingQuestion 5 of 206. What was the main reason for abolishing the MRTP Act?Encourage foreign aidSlow down industrial growthEncourage industrial growthRegulate foreign currencyQuestion 6 of 207. What was the investment limit raised for small sector units under the policy?₹2 crore₹1 crore₹4 crore₹5 croreQuestion 7 of 208. Initially, up to what percentage was FDI allowed in high priority industries?49%74%100%51%Question 8 of 209. As per current public sector policy, how many industries are reserved for the public sector?5328Question 9 of 2010. What is the main goal of trade liberalisation under NEP?Increase tariffsEncourage import substitutionFree flow of goods and servicesPromote license rajQuestion 10 of 2011. What does the Insurance Regulatory and Development Authority Act (IRDA) aim to do?Promote public sector insurance monopolyBan foreign investmentReform and regulate the insurance sectorIncrease import tariffsQuestion 11 of 2012. What change was brought about in the banking sector under NEP?Closure of cooperative banksOnly foreign banks allowedEntry of new private and foreign banksNationalisation of banksQuestion 12 of 2013. What does liberalisation mean in economic terms?Government control over economyEconomic freedom for decision makingReduction of international tradeElimination of private sectorQuestion 13 of 2014. Who promoted the concept of economic freedom in his book 'Wealth of Nations'?John KeynesAdam SmithKarl MarxAmartya SenQuestion 14 of 2015. What replaced the FERA to bring flexibility in foreign exchange laws?FEMASEBIRBIIRDAQuestion 15 of 2016. What is SEBI’s primary role?Monitor tax collectionRegulate the insurance industryProtect investors and regulate securities marketConduct industrial surveysQuestion 16 of 2017. What does privatisation generally mean?Expansion of the public sectorTransfer of ownership to public sectorGovernment regulation of tradeTransfer of ownership to private sectorQuestion 17 of 2018. What is disinvestment in the context of NEP?Selling private assets to governmentSelling public sector shares to private sectorBuying shares in foreign companiesSelling agricultural productsQuestion 18 of 2019. What is the purpose of BIFR?Promote exportsRevive sick public sector unitsControl inflationFix interest ratesQuestion 19 of 2020. What was the aim of the National Renewal Board (NRB)?Enhance exportsCreate industrial policyProvide support to retrenched workersIncrease investment in educationQuestion 20 of 20 Loading...
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