Economic Reforms Since 1991
A worksheet on the economic reforms introduced in India since 1991, covering the topics of liberalisation, privatisation, and globalisation. Total: 40 marks.
Section A — Fill in the Blanks [20 Marks]
Complete the following statements with the correct word or phrase.
In 1991, India's foreign exchange reserves dropped to a level that was not sufficient for even a ________.
The origin of the financial crisis in the 1980s can be traced to the ________ of the Indian economy.
When a government's expenditure is more than its income, it borrows to finance the ________.
To manage the 1991 crisis, India approached the IBRD, popularly known as the ________, and the IMF.
The New Economic Policy (NEP) consisted of two groups of measures: stabilisation measures and ________ measures.
Section B — Multiple Choice Questions [20 Marks]
Choose the correct answer for each question.