Target Exam

CUET

Subject

Political Science

Chapter

Contemporary World Politics: Globalisation

Question:

Read the passage carefully and answer the questions based on the passage:

Globalisation as a concept fundamentally deals with flows. The crucial element is the 'worldwide interconnectedness' that is created and sustained as a consequence of these constant flows.

Globalisation is a multi-dimensional concept. It has political, economic and cultural manifestations, and these must be adequately distinguished. It is wrong to assume that globalization has purely economic dimensions, just as it would also be mistaken to assume that it is a purely cultural phenomenon. The impact of globalization is vastly uneven- it affects some societies more than others and some parts of some societies more than others.

In 1991, responding to a financial crisis and to the desire for higher rates of economic growth, India embarked on a programme of economic reforms that has sought increasingly to de-regulate various sectors including trade and foreign investment.

However, it should be noted that globalisation is a very contentious subject and has invited strong criticism all over the globe.

In which year did India adopt LPG (Liberalisation Privatisation Globalisation)?

Options:

1990

1991

1992

1993

Correct Answer:

1991

Explanation:

The correct answer is Option (2) → 1991

The text states: "In 1991, responding to a financial crisis and to the desire for higher rates of economic growth, India embarked on a programme of economic reforms..." These reforms are commonly referred to as the LPG policy.