What was NOT the aim behind " Trade and Investment Policy Reforms" in the year 1991, when India was facing a huge economic crisis?
Answer & explanation
Correct answer: option 4
The correct answer is Option 4: to bring reforms in the government’s taxation and public expenditure policies
Trade and Investment Policy Reforms: Liberalisation of trade and investment regime was initiated to increase international competitiveness of industrial production and also foreign investments and technology into the economy. The aim was also to promote the efficiency of local industries and adoption of modern technologies.
Option 4 was the aim of tax reforms.