"Simplifying procedures for imports and exports."
The above statement is related to ________________ concept of economic environment in India.
Answer & explanation
Correct answer: option 4
The correct answer is Option (4) → Liberalisation
Option (1) Globalisation — Incorrect. It means integrating the Indian economy with the world economy. The statement is about easing import-export procedures, which is a part of liberalisation.
Option (2) Privatisation — Incorrect. It means giving a bigger role to the private sector and a smaller role to the public sector.
Option (3) Economic structure — Incorrect. This is not one of the concepts of the economic reforms of 1991.
Option (4) Liberalisation — Correct. Liberalisation means freeing business and industry from unnecessary controls and restrictions. One of the areas in which it took place is simplifying procedures for imports and exports.
NCERT (2026-27 Edition): “Liberalisation: The economic reforms that were introduced were aimed at liberalising the Indian business and industry from all unnecessary controls and restrictions. They signalled the end of the licence-pemit-quota raj. Liberalisation of the Indian industry has taken place with respect to:” “(vi) simplifying procedures for imports and experts, and” |