Target Exam

CUET

Subject

Economics

Chapter

Indian Economic Development: Liberalisation, Privatisation and Globalisation - An Appraisal

Question:

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 is NOT related to "Globalisation"?

Options:

Availability of Miniso cosmetics in India

Availability of Foreign TV channels in India

Opening of a bank branch in USA by SBI

None of the above

Correct Answer:

None of the above

Explanation:

The correct answer is Option 4: None of the above

Globalization is the process by which people and goods move easily across borders

All the options provided are related to globalization:

  • Availability of Miniso cosmetics in India: This reflects the globalization of retail and consumer goods.

  • Availability of Foreign TV channels in India: This indicates the flow of media and cultural exchange across borders.

  • Opening of a bank branch in the USA by SBI: This is an example of the international expansion of financial services.