Question

Which of the following was cancelled for Industries after economic liberalization? (A) Compulsory registration (B) Mandatory welfare (C) Proportionate investment for social welfare (D) Taking license ​

Answer 1

Answer:

Economic reforms were introduced in the year 1991 in India to combat economic crisis. Economic Crisis of 1991 was a culminated outcome of the policy failure in the preceding years. It was in that year the Indian government was experiencing huge fiscal deficits, large balance of payment deficits, high inflation level and an acute fall in the foreign exchange reserves. Moreover, the gulf crisis of 1990-91 led to an acute rise in the prices of fuel which further pushed up the inflation level. Because of the combined effect of all these factors, economic reforms became inevitable and were the only way to move Indian economy out of this crisis.

Explanation:

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Answer 2

Answer:

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