BOARD EXPECTED QUESTIONS

(Chapter 3: NEW ECONOMIC POLICY)

1. Define the following: (1×9)

(i)Globalization
(ii) Liberalization
(iii) Privatization
(iv) Outsourcing
(v) Devaluation
(vi) Disinvestment
(vii) Bilateral Trade
(viii) Tariff Barrier
(ix) Foreign Direct Investment
2. Why there was a need to introduce Economic Reform in 1991?(3/4)
3. What were the measures taken under New Economic Policy? Explain. (3/4)
4. What are the principal features of New Economic Policy? Define them. (3/4)
5. Define Liberalization. State the reforms undertaken under Liberalization. (3)
6. Discuss the Industrial Sector Reforms introduced under New Economic Policy. (6)
7. Explain the Liberalization measures under Financial Sector Reforms. (4/6)
8. Discuss Trade and Investment Policy reform under Liberalization. (6)
9. Discuss the Tax Reforms under Liberalization policy. (3/4)
10. Discuss the Foreign Exchange Reform. (3)
11. Define Devaluation. How is it used as an instrument under New Economic Policy? (3/4)
12. Explain the external sector reforms under New Economic Policy. (6)
13. Define Privatization. Should the government privatize all the Public Sector Undertakings?
OR
Critically evaluate the policy of Privatization under New Economic Policy. (6)
14. Prepare a note on Navaratna and Miniratna. (2+2)
15. Define Globalization. State the changes made by the Globalization of Indian Economy. (6/4)
16. What are the positive and negative traits of Globalization? (6)
17. Define Outsourcing. Is Outsourcing good for India? Why India has emerged as a most favorable
nation of outsourcing? Why developed countries opposing Outsourcing? (1+2+2+1)
18. Prepare a note on World Trade Organization. Should India be a member of WTO? Justify. (3/4)
19. Give a critical appraisal of New Economic Policy. (6)
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