Practicing Success

Target Exam

CUET

Subject

Sociology

Chapter

Indian Society: Market as a social Institution

Question:

Which of the following statement is correct about the liberalisation of the Indian Economy?

Options:

India started the process of liberalisation immediately after independence.

Since the late 1980s, India has entered a new era in its economic history, following the change in economic policy from one of state-led development to liberalisation.

Since the early 1990s India has entered a new era in its economic history, following the change in economic policy from one of state-led development to liberalisation.

The India has become increasing interconnected with the world due to liberalisation.

Correct Answer:

Since the late 1980s, India has entered a new era in its economic history, following the change in economic policy from one of state-led development to liberalisation.

Explanation:

Since the late 1980s, India has entered a new era in its economic history, following the change in economic policy from one of state-led development to liberalisation. This shift also ushered in the era of globalisation, a period in which the world is becoming increasingly interconnected — not only economically but also culturally and politically.