Question

Q1. What were the reasons to
implement new economic policy of
India? List all. (5Pts)
Q2. Explain Five positive effects of
liberalisation and globalisation on
business and industry in India. (5Pts)
Q3. Explain any five negative impacts
of liberalisation and globalisation on
business and industry on India. (5Pts)​

Answer 1

1.The following are the reasons for economic reforms:

(i) Rise in Prices:

(ii) Rise in Fiscal Deficit:

(iii) Increase in Adverse Balance of Payments:

(iv) Iraq War:

(v) Dismal Performance of PSU's (Public Sector Undertakings):

(vi) Fall in Foreign Exchange Reserves:

2.The positive effects of liberalisation and globalisation on Indian business and industry are:

(i) All round competition.

(ii) Export became matter of survival.

(iii) World class technology.

(iv) Buyer's market.

(v) Increase in production capacity.

3.The negative impacts of globalization and liberalization are:

(i) Destabilization of protected environment.

(ii) Threat from MNCs.

(iii) Corporate vulnerability.

(iv) Past failures fail to guide.

(v) Acquisitions and mergers.

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Answer 2

Answer:

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