Match the following:

1-A, 2-C, 3-B, 4-D

* Liberalization: The economic reforms that were introduced were aimed at liberalizing the Indian business and industry from all unnecessary controls and restrictions. They signaled the end of the license-permit-quota raj.

* Privatization: The new set of economic reforms aimed at giving greater role to the private sector in the nation building process and a reduced role to the public sector. To achieve this, the government redefined the role of the public sector in the New Industrial Policy of 1991 and also adopted the policy of planned disinvestments.

* Globalization: Globalization means the integration of the various economies of the world leading towards the emergence of a cohesive global economy.

* Demonetization: The aim of demonetization was to curb corruption, counterfeiting the use of high denomination notes for illegal activities; and especially the accumulation of ‘black money’ generated by income that has not been declared to the tax authorities.