Practicing Success

Target Exam

CUET

Subject

Economics

Chapter

Indian Economic Development: Liberalisation, Privatisation and Globalisation - An Appraisal

Question:

Arrange the following in Chronological order

A. Foundation of World Trade Organization (WTO)

B. Establishment of General Agreement on Trade and Tariff (GATT)

C. India's New Economic Policy (NEP)

D. Introduction of Goods and Service Tax (GST)

Choose the correct answer from the options given below:

Options:

D, B, A, C

A, C, B, D

B, C, A, D

C, D, B, A

Correct Answer:

B, C, A, D

Explanation:

The following is the correct order:

  1. Establishment of General Agreement on Trade and Tariff (GATT) - 1948
  2. India's New Economic Policy (NEP) -1991
  3. Foundation of World Trade Organization (WTO) - 1995
  4. Introduction of Goods and Service Tax (GST) - 2017