Why there was a need for economic reforms in India?
  • Due to fiscal deficit
  • Due to adverse BOP
  • Rise in prices
  • All of the above
When did the Gulf Crisis take place?
  • 1985
  • 1990-91
  • 1995
  • 1975
How much loan was provided by World Bank and IMF during the nineties to bail India out of the crisis?
  • $10 million
  • $10 billion
  • $7 billion
  • $20 billion
What is the main feature of New Economic Policy?
  • Liberalisation
  • Privatisation
  • Globalisation
  • All of the above
For how many industries, licensing is still necessary?
  • 7
  • 6
  • 9
  • 10
How many industries are entirely reserved for the public sector?
  • 6
  • 10
  • 2
  • 4
What is the investment limit in small scale industries?
  • 50 lakh
  • 1 crore
  • 25 lakh
  • 75 crore
When was VAT introduced in most of the States of India?
  • 1995
  • 2001
  • 2005
  • 2006
How many countries are the members of WTO?
  • 164
  • 120
  • 96
  • 48
When was WTO established?
  • 1996
  • 1998
  • 2000
  • 1995
Where is the headquarters of WTO located?
  • Italy
  • Geneva
  • New York
  • Washington
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