BPSC CCE Prelims
LPG Reforms 1991 Previous Year Questions (PYQs)
Practice solved questions for LPG Reforms 1991 with detailed step-by-step solutions, key insights, and trend analysis for BPSC CCE PRELIMS.
Solved Previous Year Questions
Filter & practice questions topic-wise
Which Sector in India has benefitted the most from Globalization ?
Detailed Explanation:
Services sector emerged as the largest beneficiary of globalization in India, contributing over 50% to GDP.
IT exports surged with companies like TCS, Infosys, Wipro becoming global leaders; India became the world's top BPO destination due to English-speaking talent and cost advantages; FDI inflows concentrated in telecom, banking, insurance, and e-commerce; sectors like tourism, healthcare, and financial services expanded rapidly post-1991 reforms.
In contrast, manufacturing grew modestly while agriculture faced challenges from import competition and saw limited export growth despite globalization.
In which budget did the Finance Minister announce the Liberalized Exchange Rate Management System?
Detailed Explanation:
The Liberalized Exchange Rate Management System (LERMS) was announced by Finance Minister Dr. Manmohan Singh in the Union Budget 1992-1993.
This dual exchange rate system was introduced as part of economic liberalization reforms and marked a significant step towards convertibility of the Indian Rupee on the current account.
🧐 Not Sure What to Study Next?
Get a personalised study plan based on your goals, time and revision needs.
Related Topics in Indian Economy
Frequently Asked Questions
Common questions about LPG Reforms 1991 in BPSC CCE PRELIMS