Question

In 1960 to 1970 how goverment handle the problem of forugn exchange

Answer 1

by the use of defence

Answer 2

They removed trade barriers for easier flow of goods

Due to fallowing reasons, the Government of India removed trade barriers

(i) India was lacing a serious/economic crisis  because of slow economic growth, inefficient public enterprises, high inflation and rising fiscal defecit.

(ii) The Government of India decided that the time had come for Indian producers to compete with producers around the globe.

(iii) The decision to remove trade barriers was supported by powerful international organisations like IMF, WTO, etc.

(iv) Removing barriers or restrictions set by the government is known as liberalisation.

:) Hope this helps !!!!!

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