Match List-I with List-II.
| List-I | List-II | ||
| Measures/Policy | Meaning | ||
| (A) | Stabilisation measures | (I) | Creating a border less world |
| (B) | Structural reforms measures | (II) | A company hires regular service from external source |
| (C) | Globalisation | (III) | Long term measures |
| (D) | Outsourcing | (IV) | Short-term measures |
Choose the correct answer from the options given below :
Answer & explanation
Correct answer: option 2
The correct answer is Option (2) → (A)-(IV), (B)-(III), (C)-(I), (D)-(II)
The reforms of 1991 had two groups of policies: stabilisation measures and structural reform measures. Globalisation came with these reforms, and outsourcing is one of its important outcomes.
| List-I | List-II | Reason |
|---|---|---|
| (A) Stabilisation measures | (IV) Short-term measures | They are short-term measures to correct weaknesses in the balance of payments and to bring inflation under control. |
| (B) Structural reforms measures | (III) Long term measures | They are long-term measures to make the economy more efficient and competitive by removing rigidities. |
| (C) Globalisation | (I) Creating a border less world | Globalisation links economies so closely that it turns the world into one whole, a borderless world. |
| (D) Outsourcing | (II) A company hires regular service from external source | In outsourcing, a company hires regular service from external sources, mostly from other countries. |
NCERT (2026-27): “3.2 Background … India agreed to the conditionalities of World Bank and IMF and announced the New Economic Policy (NEP). The NEP consisted of wide ranging economic reforms. The thrust of the policies was towards creating a more competitive environment in the economy and removing the barriers to entry and growth of firms. This set of policies can broadly be classified into two groups: the stabilisation measures and the structural reform measures. Stabilisation measures are short-term measures, intended to correct some of the weaknesses that have developed in the balance of payments and to bring inflation under control. In simple words, this means that there was a need to maintain sufficient foreign exchange reserves and keep the rising prices under control. On the other hand, structural reform policies are long-term measures, aimed at improving the efficiency of the economy and increasing its international competitiveness by removing the rigidities in various segments of the Indian economy.… 3.5 Globalisation … Globalisation attempts to establish links in such a way that the happenings in India can be influenced by events happening miles away. It is turning the world into one whole or creating a borderless world. Outsourcing: This is one of the important outcomes of the globalisation process. In outsourcing, a company hires regular service from external sources, mostly from other countries, which was previously provided internally or from within the country (like legal advice, computer service, advertisement, security — each provided by respective departments of the company).…” |