Economic Reforms in India MCQs
Economic Reforms in India – MCQs with Answers & Explanations
Class: CBSE Class 11
Subject: Economics
Section: Liberalisation, Privatisation & Globalisation
Topic: Economic Reforms in India
Board: CBSE Board Examinations
Subject: Economics
Section: Liberalisation, Privatisation & Globalisation
Topic: Economic Reforms in India
Board: CBSE Board Examinations
These Multiple Choice Questions (MCQs) are designed strictly as per the NCERT syllabus, making them ideal for CBSE Class 11 Board Examination preparation. Each question includes detailed explanations for clear conceptual understanding.
1. Economic reforms in India began in:
Answer: B
Reforms were introduced to tackle economic crisis.
Reforms were introduced to tackle economic crisis.
2. Reforms were based on:
Answer: A
Liberalisation, Privatisation & Globalisation.
Liberalisation, Privatisation & Globalisation.
3. Balance of Payments crisis means:
Answer: B
India lacked foreign exchange reserves.
India lacked foreign exchange reserves.
4. Liberalisation reduced:
Answer: A
Industrial licensing & restrictions eased.
Industrial licensing & restrictions eased.
5. Privatisation increased role of:
Answer: B
Ownership & management shifted.
Ownership & management shifted.
6. Globalisation promotes:
Answer: B
Free flow of goods & capital.
Free flow of goods & capital.
7. Disinvestment refers to:
Answer: B
Reduced public ownership.
Reduced public ownership.
8. FDI inflow means:
Answer: B
Investment from abroad.
Investment from abroad.
9. Trade liberalisation reduced:
Answer: A
Encouraged global trade.
Encouraged global trade.
10. License Raj was:
Answer: B
Industrial entry barriers eased.
Industrial entry barriers eased.
11. MRTP restrictions were:
Answer: A
Encouraged business expansion.
Encouraged business expansion.
12. Exchange rate reform involved:
Answer: A
Boosted exports.
Boosted exports.
13. Service sector after reforms:
Answer: B
IT & finance boomed.
IT & finance boomed.
14. Competition in markets:
Answer: A
Due to deregulation.
Due to deregulation.
15. Consumers benefited via:
Answer: A
Quality & variety improved.
Quality & variety improved.
16. Critics highlight:
Answer: A
Income gaps widened.
Income gaps widened.
17. Agriculture impact:
Answer: A
Benefits uneven.
Benefits uneven.
18. Export growth after reforms:
Answer: A
Due to global integration.
Due to global integration.
19. Foreign exchange reserves:
Answer: A
Stronger BoP position.
Stronger BoP position.
20. Overall reform outcome:
Answer: A
India shifted toward liberal economic system.
India shifted toward liberal economic system.
