Practicing Success
The process of globalisation through liberalisation and privatisation policies has produced positive, as well as, negative results both for India and other countries. Some scholars consider globalisation as an opportunity in terms of greater access to global markets, improved technology and increased possibility of large industries of developing countries to become important players in the international arena. Many critics are of the belief that globalisation is just a strategy of the developed countries to expand their market base. According to them, it has compromised the welfare of the people living in poor nations. It has further been pointed out that globalisation driven by market forces has widened the economic disparities among nations and people. When we see it from India's perspective globalisation has increased the income and standard of living of only rich class and the growth has been limited to only few selected areas in services, real estate etc., rather than vital sectors such as agriculture and industry which provide livelihood to the majority population of the country. |
Which of the following is NOT a policy measure initiated under globalisation? |
Revaluation of rupee Removal of controls on foreign trade Modification in technology agreements All of the above |
Revaluation of rupee |
Devaluation of rupee was done in 1991 to improve the balance of payment position of the country. As, devaluation increases the exports of the country. |