Practicing Success
Read the given passage carefully and answer the next five questions. In many ways it was a major political change, namely, the collapse of the erstwhile socialist world that hastened globalisation and also gave a specific economic and political approach to the economic policies that underpin globalisation. These changes are often termed as neo-liberal economic measures. We have already seen what concrete steps the liberalisation policy took in India. Broadly, these policies reflect a political vision of free enterprise which believes that a free reign to market forces will be both efficient and fair. It is, therefore, critical of both State regulation and State subsidies. The existing process of Globalisation in this sense does have a political vision as much as an economic vision. |
What does the term 'liberalisation policy' refer to in the given passage? |
Regulation of State subsidies Regulation of market forces Regulation of social welfarism De-regulation of market forces |
De-regulation of market forces |
The correct answer is Option (4) - De-regulation of market forces The passage describes the liberalisation policy as part of neo-liberal economic measures that advocate for a free reign to market forces, which implies the de-regulation of market forces. |