Question

Choose the correct statement about factors regarding globalization in
India :
Improvement in transportation technology.
Liberalization of foreign trade and foreign investment.
Favourable rules of WTO towards India in comparison to
developed countries.

Choose the correct options from the codes given below :
(A) Only I and II
(B) Only I and III
(C) Only II and III
(D) Only III​

Answer 1

Answer:

(a) only I and II.

improvement one and favorable rules of wto

Answer 2

The correct statements about factors regarding globalization in

India : (A) Only I and II

• Improvement in transportation technology:

1. The increase in airways, road and rail trasport has lead to an efficient means of travelling within the country and across counties.
2. The Ministry of Road Transport and Highways has taken the following steps to improve the traffic situation and enable ease in transportation.

 (i) National Urban Transport Policy-2006.

 (ii) Financial assistance upto 20% for Metro Rail Projects initiated by State Govt.

 (iii) More than 22,500 buses sanctioned to 157 cities/cluster of cities under erstwhile JnNURM Scheme.

 (iv) 80% financial assistance is being provided by Ministry for preparation of Comprehensive Mobility Plans(CMPs) and other Urban Transport related studies by cities, 50% cost of DPR preparation for Mass Rapid Transport System is also provided.

• Liberalization of foreign trade and foreign investment:

1. The liberalization of foreign trade and foreign investment was a policy which was a part of the economic reform introduced in 1991.
2. Liberalization essentially menas the decrease in govenrment's intervention in trade and relaxation of economic and trade barries in the country.
3. As a part of the 1991 reform, the country saw a removal of the 40% foreign equity in trade and allowed automatic clearance up to 51 per cent foreign equity.

• Favourable rules of WTO towards India in comparison to developed countries.

1. Since two-thirds of the WTO members are from developing countries the WTO plays a fair and square game with both developing and developed countries.
2. However, it is not unknown that WTO is slightly favorable to the developed countries.