Question

Economic reform is required to overcome the problem of:
(i) Excess consumption and expenditure over revenue
(ii) Over protection to industry and heavy losses in public sector
(iii) Mismanagement of firm, economy and poor technological development
(iv) Mismanagement of foreign exchange reserve and shortage of foreign exchange

• A. (i) and (ii)
• B. (i) and (iii)
• C. (i) (ii) and (iii)
• D. All of the above

Answer 1

The correct option is D All of the above

Economic reform is required to overcome the problem of:
(i) Excess consumption and expenditure over revenue
(ii) Over protection to industry and heavy losses in public sector
(iii) Mismanagement of firm, economy and poor technological development

(iv) Mismanagement of foreign exchange reserve and shortage of foreign exchange

Economic reforms aims to create a more freer economy and uphold the process of liberalization, privatization and globalization. It helps to achieve a higher economic growth and development.