CUET Preparation Today
What did the "Trade policy reforms" of New Economic Policy, 1991 aim at? |
Dismantling the quantitative restrictions on imports and exports Reduction of the tariff rates Removal of licensing procedures for imports All of the above |
All of the above |
the correct answer is Option 3: All of the above The trade policy reforms aimed at (i) dismantling of quantitative restrictions on imports and exports (ii) reduction of tariff rates and (iii) removal of licensing procedures for imports. Initial trade policies including quantitative restrictions reduced efficiency and competitiveness which led to slow growth of the manufacturing sector. |
