MCQs – India Economic reforms and their impactBy: Prof. Dr. Fazal Rehman | Last updated: May 19, 2025 5 Score: 0 Attempted: 0/5 Subscribe 1. : India’s economic liberalization, initiated in 1991, primarily aimed to: (A) Increase government control over the economy (B) Encourage private sector participation and foreign investment (C) Nationalize major industries (D) Promote self-sufficiency through import substitution 2. : Which sector experienced significant growth as a result of India’s economic reforms? (A) Public sector enterprises (B) Agriculture (C) Service industry, particularly IT and BPO (D) Cottage industry 3. : The introduction of the Goods and Services Tax (GST) in India aimed to: (A) Reduce the overall tax burden on businesses (B) Simplify the tax structure and improve compliance (C) Increase tariffs on imports to protect domestic industries (D) Nationalize the banking sector 4. : Foreign Direct Investment (FDI) inflows into India increased significantly after economic reforms primarily due to: (A) Restrictions on foreign investment (B) Streamlined approval processes and liberalized policies (C) High tariffs on imported goods (D) Emphasis on import substitution 5. : The economic reforms in India led to an increase in: (A) Poverty and income inequality (B) Government control over the economy (C) Industrial stagnation (D) Economic growth and globalization Related Posts:MCQs - India Economic reforms and their impact.MCQs on indian Impact of climate on agriculture (India)Which one of the following is not true regarding the impact of the First World War on India?MCQs - Major rivers (Ganges, Brahmaputra, Yamuna) and their basins. (India)Pakistan Education system challenges and reforms MCQsPAST PAPER STAFF NURSE (BS-16) + (Special Health Sector Reforms Allowance) PPSC [SOLVED]