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Washington Consensus

Structural re...

Question

Structural reform measures were intended to ______.

A

improve efficiency of the economy

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B

increase international competitiveness

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C

remove rigidity in various segments of economy

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D

all of the above

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Solution

The correct option is D all of the above
India agreed to the conditionalities of World Bank and IMF and announced the New Economic Policy (NEP). The NEP consisted of wide ranging economic reforms. This set of policies can broadly be classified into two groups: the stabilisation measures and the structural reform measures. Structural reform policies are long-term measures, aimed at improving the efficiency of the economy and increasing its international competitiveness by removing the rigidities in various segments of the Indian economy.

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