The 'liberalization' in 1991 reduced the number of industries reserved for the public sector to how many initially? MCQ with Answer and Explanation

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The 'liberalization' in 1991 reduced the number of industries reserved for the public sector to how many initially?

A. 25

B. 6

C. 18

D. 8

Answer: Option D

Solution (By JKSSB Mock Tests)

The 1991 policy reduced the reserved industries for public sector to 8, later further reduced.

This question belongs to: Economy GK Economy Set 1

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Question #1

Green GDP is an indicator that adjusts GDP for:

A. inflation

B. population growth

C. environmental degradation and natural resource depletion

D. foreign debt

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Correct Answer: Option C

Explanation:
Green GDP adjusts conventional GDP for environmental degradation and natural resource depletion.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Foreign Direct Investment' limit in defence sector was increased to what percentage through the automatic route?

A. 100%

B. 26%

C. 74%

D. 49%

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Correct Answer: Option C

Explanation:
FDI in defence under automatic route is allowed up to 74%, with higher under government route.

This question belongs to: Economy GK Economy Set 1

Question #3

In the context of public finance, 'Tax Buoyancy' measures:

A. The progressivity of the tax system only

B. The share of indirect taxes only

C. The administrative cost of tax collection

D. The responsiveness of tax revenue to changes in GDP without discretionary changes

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Correct Answer: Option D

Explanation:
Tax buoyancy is the ratio of the percentage change in tax revenue to the percentage change in GDP, reflecting both automatic and discretionary changes in the tax system.

This question belongs to: Economy GK Economy Set 1

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