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Which of the following has/have occurred in India after its liberalization of economic policies in 1991? 1. Share of agriculture in GDP increased enormously. 2. Share of India's exports in world trade increased. 3. FDI inflows increased. 4. India's foreign exchange reserves increased enormously. Select the correct answer using the codes given below:

Which of the following has/have occurred in India after its liberalization of economic policies in 1991? 1. Share of agriculture in GDP increased enormously. 2. Share of India's exports in world trade increased. 3. FDI inflows increased. 4. India's foreign exchange reserves increased enormously. Select the correct answer using the codes given below: Correct Answer 2, 3 and 4 only

The correct answer is 2, 3 and 4 only.

Key Points

  • India's agriculture sector has shown a gradual decline in contribution to the Indian economy post-reform.
    • Agriculture, India’s traditional occupation, now contributes only about 15% to the GDP, from 29% in 1991. Hence, statement 1 is not correct.
  • The opening up of the economy has led to a rapid increase in foreign direct investment (FDI -> by 150%) and foreign exchange reserves (by 20 times).
    • The foreign investment, which includes foreign direct investment and foreign institutional investment, has increased from about US $ 100 million in 1990-91 to the US $ 150 billion in 2003-04. Hence, statements 3 and 4 are correct.
  • Reforms in Industry:
    • India is seen as a successful exporter of IT software, auto parts, textiles, and engineering goods in the reform period. Hence, statement 2 is correct.

Related Questions

In the following passage, some of the words have been left out. Read the passage carefully and select the correct answer for the given blank out of thefour alternatives. Widespread liberalization of the economic ________________ regime was long overdue in 1991, and has played a positive role since, but itsimpact has ________________ its course and the policy has recognisable ___________________. Liberalization cannot address all aspects ofthe man­made environment and now climate change ________________ to change everything forever. We do not have another quarter centuryto deal ___________ these imperatives. Widespread liberalization of the economic ________________ regime
Each item consists of six sentences of a passage. The first and sixth sentences are given in the beginning as S1 and S6. The middle four sentences in each have been jumbled up and labelled as P, Q, R and S. You are required to find the proper sequence of the four sentences and markyour response accordingly on the Answer Sheet.
S1 :In a globalized world, no country can hope to impose tariffs without affecting its own economic interests.
S6 :The ongoing trade war also threatens the rules-based global trade order which has managed to amicably handle trade disputes between countries for decades.
P :So both the U.S. and China, which have blamed each other for the ongoing trade war, are doing no good to their own economic fortunes by engaging in this tit-for-tat tariff battle.
Q : Apart from disadvantaging its consumers, who will have to pay higher prices for certain goods, tariffs will also disrupt the supply chain of producers who rely on foreign imports.
R : China, which is fighting an economic slowdown, will be equally affected.
S :The minutes of the U.S. Federal Reserve June policy meeting show that economic uncertainty due to the trade war is already affecting private investment in the U.S., with many investors deciding to scale back or delay their investment plans
The correct sequence should be
Given below are six sentences of a  passage. The first and sixth sentences are given in the beginning as S1 and S6. The middle four-sentence in each have been jumbled up and labelled as P, Q, R and S. You are required to find the proper sequence of the four sentences. S1: In a globalised world, no country can hope to impose tariffs without affecting its own economic interests. S6: The ongoing trade war also threatens the rules-based global trade order which has manages to amicably handle trade disputes between countries for decades. P: So both the U.S. and China, which have blamed each other for the ongoing trade war, are doing no good to their own economic fortunes by engaging in tit-for-tat tariff battle. Q: Apart from disadvantaging its consumers, who will have to pay higher prices for certain goods, tariffs will also disrupt the supply chain of producers who rely on foreign imports. R: China, which is fighting an economic showdown, will be equally affected. S: The minutes of the U.S. Federal Reserve June policy meeting show that economic uncertainty due to the trade war is already affecting private investment in the U.S., with many investors deciding to scale back or delay their investment plans.
In the following passage some of the words have been left out. Read the passage carefully and select the correct answer for the given blank out of the four alternatives. Indias motto has been Vasudeva Kutumbakam or that the whole world is _____ community. There are a _____ of pillars upon which Indias policy of living in peace with and _____ peace among nations of the world rests. Policies of non-alignment, peaceful co-existence, economic and cultural cooperation disarmament and peaceful _____ of nuclear energy, _____ of International disputes through negotiations and peaceful means are some of the salient features that give credence to Indias commitment to world peace. economic and cultural cooperation disarmament and peaceful _____ of nuclear energy
In the following passage some of the words have been left out. Read the passage carefully and select the correct answer for the given blank out of the four alternatives. Indias motto has been Vasudeva Kutumbakam or that the whole world is _____ community. There are a _____ of pillars upon which Indias policy of living in peace with and _____ peace among nations of the world rests. Policies of non-alignment, peaceful co-existence, economic and cultural cooperation disarmament and peaceful _____ of nuclear energy, _____ of International disputes through negotiations and peaceful means are some of the salient features that give credence to Indias commitment to world peace. India's motto has been Vasudeva Kutumbakam or that the whole world is _____ community.
India's first gas exchange, the Indian Gas Exchange (IGX), was launched as a wholly owned subsidiary of Indian Energy Exchange. Which of the following statements are correct? 1. It is a digital trading platform that will allow buyers and sellers to trade both in the spot market and in the forward market for imported natural gas. 2. It will allow trade across three hubs - Dahej and Hazira in Gujarat and Kakinada in Andhra Pradesh. 3. Imported Liquified Natural Gas (LNG) will be regassified and sold to buyers through the exchange, removing the requirement for buyers and sellers to find each other. 4. Only inter-governmental trade in domestically produced natural gas is allowed at the gas exchange. Select the correct answer using the code given below:
The question given below consists of a statement, followed by three arguments numbered I, II and III. You have to decide which of the arguments is/are ‘strong' arguments and which is/are ‘weak' arguments and accordingly choose your answer from the alternatives given below each question. Statement: The United States has launched what China calls the ‘largest trade war in economic history' and in its latest move targeted another $200 billion in Chinese export goods. The US-China spat is one of several trade fights picked by the protectionist President Donald Trump as his ‘America First' agenda disrupts trade relations among traditional allies. The growing share of international trade under threat has raised the prospect the escalating trade war could harm the global economy, shrinking investments and undermining supply chains. Why? Arguments: I. Several companies - including Total and Peugeot of France, and Russia's Lukoil - have said they are preparing to exit Iran ahead of US deadlines, the last of which is November 4. II. Trump argued the original deal from 2012 was lopsided in Seoul's favour but has also clouded the issue by appearing to link trade concessions to progress in his separate track of talks with nuclear-armed North Korea. III. Meanwhile, talks among the three NAFTA (North American Free Trade Agreement) signatories, launched after Trump demanded an overhaul of the ‘terrible deal', have snagged notably owing to the US demands to increase American content installed in duty-free autos. 
In the following passage some of the words have been left out. Read the passage carefully and select the correct answer for the given blank out of the four alternatives. Indias motto has been Vasudeva Kutumbakam or that the whole world is _____ community. There are a _____ of pillars upon which Indias policy of living in peace with and _____ peace among nations of the world rests. Policies of non-alignment, peaceful co-existence, economic and cultural cooperation disarmament and peaceful _____ of nuclear energy, _____ of International disputes through negotiations and peaceful means are some of the salient features that give credence to Indias commitment to world peace. of living in peace with and _____ peace among nations of the world rests.
Which of the following is/are not FDI policy change(s) alter 2010? 1. Permission of 100 per cent FDI in the automotive sector 2. Permitting foreign airlines to make FM up to 49 per cent 3. Permission of up to 51 per cent FDI under the government approval route in multi-brand retailing, subject to specified conditions 4. Amendment of policy on FDI in single-brand product retail trading for aligning with global practices Select the correct answer using the code given below:
In the following passage some of the words have been left out. Read the passage carefully and select the correct answer for the given blank out of the four alternatives. Indias motto has been Vasudeva Kutumbakam or that the whole world is _____ community. There are a _____ of pillars upon which Indias policy of living in peace with and _____ peace among nations of the world rests. Policies of non-alignment, peaceful co-existence, economic and cultural cooperation disarmament and peaceful _____ of nuclear energy, _____ of International disputes through negotiations and peaceful means are some of the salient features that give credence to Indias commitment to world peace. There are a _____ of pillars upon which India's policy