INDUS UNIVERSAL SCHOOL

ECONOMICS – GRADE XII

PART B – INDIAN ECONOMIC DEVELOPMENT
WORKSHEET 5
Submission Date: 04.04.24
Short Answer Questions (3/4 Marks)
1. What are the reasons for economic reforms taken up in 1991?
2. What were the short-term reforms aimed at in NEP?
3. State the long term measures that the NEP aimed at.
4. Briefly state the industrial sector reforms.
5. Mention the financial sector reforms that were taken up after NEP.
5. What are the tax and foreign exchange reforms that came into effect after the
New Economic Policy? Mention the key points
6. What do you understand by Privatisation?
7. ‘Disinvestment a good measure taken by the government to ensure efficient
functioning of PSUs.’ Do you agree with the statement. Give atleast 3 reasons
to validate your answer.
8. What is meant by Globalisation?
9. What are the main changes that the Indian economy underwent due to
Globalisation?
10. ‘India has become a destination for Outsourcing.’ Do you agree with this
statement? Justify your answer.
11. Discuss the positive aspects of LPG Policy undertaken by the government
in 1991.
12. What is the negative impact of LPG reforms on the Indian economy?

Note: Refer to the Revision of Key Points at the end of Chapter 3 in the
prescribed text book.