The correct answer is Option (3) → (A), (B) and (C) only
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(A) Air India sold to TATA: This is a key example of privatisation, a process that was a direct result of liberalisation. By opening up the economy, the government allowed for the sale of state-owned enterprises (PSUs) to private companies, with the goal of increasing efficiency and reducing the fiscal burden on the state.
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(B) New land acquisition policy of the government to invite foreign investors: To attract foreign direct investment (FDI), a core goal of liberalisation, the government had to create new policies. These policies aimed to simplify and ease the process for foreign companies to acquire land for setting up factories, offices, and other infrastructure, thereby directly facilitating global investment.
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(C) Outsourcing and contractual employment: Globalisation has led to the creation of a seamless global market for labor and services. Companies in developed nations began outsourcing non-core business activities to countries like India, where labor costs were lower. This shift often favored contractual employment and flexible work arrangements over permanent jobs, as it allowed companies to scale their workforce up or down based on demand.
- (D) Displacement of the service caste groups.: This is an adverse impact of green revolution and not related to Globalisation and liberalisation.
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