Question

Write any four observations of the policy strategies promoting globalisation of the Indian economy.​

Answer 1

Answer:

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Explanation:

1) Import Liberalization:

For liberalizing foreign trade, import controls through licensing was abolished.

2) Imports of Gold and Silver:

Imports of Gold and Silver have been considerably liberalized. This reduced the incentive for smuggling. In Jan. 2004 imports of gold were made free from any commission charged for it.

3) Market-Determined Exchange Rate:

An important measure in external sector was to devalue the rupee in July 1991 and after about 2 years in 1993 exchange rate was changed from basket based pegged exchange rate system to market-determined exchange rate. With this the exchange rate of the rupee today is determined by demand and supply conditions in the foreign exchange markets.

Answer 2

Answer:

Explanation:

1) Import Liberalization:

For liberalizing foreign trade, import controls through licensing was abolished.

2) Imports of Gold and Silver:

Imports of Gold and Silver have been considerably liberalized. This reduced the incentive for smuggling. In Jan. 2004 imports of gold were made free from any commission charged for it.

3) Market-Determined Exchange Rate:

An important measure in external sector was to devalue the rupee in July 1991 and after about 2 years in 1993 exchange rate was changed from basket based pegged exchange rate system to market-determined exchange rate. With this the exchange rate of the rupee today is determined by demand and supply conditions in the foreign exchange markets.

Explanation:

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