Question

Fill in the blanks with the appropriate option from the bracket.

1. India has adopted a _________ policy of economic development since 1991.
(liberal, restrictive, strict, normal)

2. At present there are only _______ industries under compulsory licensing.
(6, 10, 4, 12)

3. Due to globalisation, agricultural export__________
(increases, decreases, constant, zero)

Answer 1

1. India has adopted a liberal policy of economic development since 1991.
Explanation-
Before 1991, economic activities in India were subject to various controls and regulations by the government. The majority of the industries were under the government control while the private sector played only a secondary role. However, such a policy led to several problems in the form of stagnation, imbalance, etc. In wake of this since 1991, India moved towards a liberal policy of economic development.

2. At present there are only 6 industries under compulsory licensing.
Explanation-
Currently, there are only 6 strategic industries that are under compulsory licensing due to social and security reasons. These include alcohol, cigarette, industrial explosives and pharmaceutical industries.

3. Due to globalisation, agricultural export increases.
Explanation-
With globalisation, Indian farmers gained access to the global markets. This helped farmers increase their business network, which led to an increase volume of agricultural exports from India.