Practicing Success

Target Exam

CUET

Subject

Business Studies

Chapter

Business Environment

Question:

What was the primary objective of the new economic reform privatization?

Options:

Increasing the role of the public sector

Maintaining the status quo in the nation-building process

Giving a greater role to the private sector and reducing the role of the public sector

All of these

Correct Answer:

Giving a greater role to the private sector and reducing the role of the public sector

Explanation:

The new set of economic reforms aimed at giving greater role to the private sector in the nation building process and a reduced role to the public sector. This was a reversal of the development strategy pursued so far by Indian planners.