Economic Reforms & Sectors of the Economy — Practice

Question 1

The 1991 economic reforms were primarily triggered by

Accepted Answer

A

Question 2

The 1991 reforms are commonly summarised by the acronym LPG, standing for

Accepted Answer

A

Question 3

The 1991 reforms are widely credited to which Finance Minister, serving under Prime Minister P.V. Narasimha Rao?

Accepted Answer

A

Question 4

The 'License Raj,' substantially dismantled by the 1991 reforms, refers to

Accepted Answer

A

Question 5

Which of the following is a Kharif crop, sown with the onset of the southwest monsoon?

Accepted Answer

A

Question 6

Rabi crops are typically sown

Accepted Answer

A

Question 7

The Green Revolution's benefits were most concentrated in which region of India?

Accepted Answer

A

Question 8

M.S. Swaminathan is often called the 'Father of the Green Revolution' in which context?

Accepted Answer

A

Question 9

Minimum Support Price (MSP) recommendations are made based on inputs from which body?

Accepted Answer

A

Question 10

The Industrial Policy Resolution of 1956 classified industries into how many categories based on ownership?

Accepted Answer

A

Question 11

Since a 2020 revision, MSMEs in India are classified based on

Accepted Answer

A

Question 12

India's largest export-earning services sub-sector is generally considered to be

Accepted Answer

A

Question 13

India's overall trade balance is characterised by

Accepted Answer

A

Question 14

The Zaid cropping season, used for quick-growing crops like watermelon and cucumber, falls

Accepted Answer

A

Question 15

Disinvestment, a component of the Privatisation pillar of the 1991 reforms, refers to

Accepted Answer

A

Practice — Economic Reforms & Sectors of the Economy