Question : A consequence of economic liberalization in India was:
Option 1: Strengthening of labor unions
Option 2: Increased competition in domestic markets
Option 3: Expansion of the public sector
Option 4: Decrease in foreign direct investment
Correct Answer: Increased competition in domestic markets
Solution : A consequence of economic liberalization in India was increased competition in domestic markets, as the removal of trade barriers and deregulation allowed for greater entry of foreign and private companies, challenging existing monopolies and state enterprises.
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Question : Which sector witnessed increased competition due to liberalization in India?
Question : Which policy aimed to protect domestic industries from foreign competition in India?
Question : The decline of the cottage industry in India during the colonial period was primarily due to:
Question : Statement 1: Liberalization of the financial sector in India aimed to promote competition among banks.
Statement 2: The Reserve Bank of India (RBI) was abolished as part of financial sector reforms.
Question : Statement 1: Liberalization of the financial sector in India aimed to increase competition among banks.
Statement 2: The Reserve Bank of India (RBI) played a key role in implementing financial sector reforms.
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