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Home Questions ENBQAMBV6Y
Target Exam

CUET

Subject

Economics

Chapter

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

Question:

Assertion: The New Economic Policy (NEP) introduced in 1991 included both stabilisation measures and structural reform measures.

Reason: Structural measures aimed at correcting weaknesses in the balance of payments and controlling inflation, while stabilisation reform measures aimed at improving the efficiency of the economy and increasing its international competitiveness.

Options:

Both Assertion (A) and reasoning (R) are correct and R is the correct explanation of A.

Both Assertion (A) and reasoning (R) are correct and but R is not the correct explanation of A.

Assertion (A) is true but Reasoning (R) is not correct.

Assertion (A) is not true but Reasoning (R) is correct.

Correct Answer:

Assertion (A) is true but Reasoning (R) is not correct.

Explanation:

The New Economic Policy (NEP) introduced in 1991 did include both stabilisation measures and structural reform measures. Stabilisation measures focused on addressing immediate economic challenges, such as balance of payments issues and inflation control. Structural reform measures aimed at making long-term changes to improve the efficiency and competitiveness of the economy.

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