Which of the following was NOT part of the 1991 economic reforms? MCQ with Answer and Explanation

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Which of the following was NOT part of the 1991 economic reforms?

A. Opening up to foreign investment

B. Nationalization of commercial banks

C. Reduction of import tariffs

D. Abolition of industrial licensing for most industries

Answer: Option B

Solution (By JKSSB Mock Tests)

Nationalization of commercial banks was done earlier in 1969 and 1980, not in the 1991 reforms.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Human Capital Index' is published by:

A. UNESCO

B. IMF

C. UNDP

D. World Bank

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Correct Answer: Option D

Explanation:
The Human Capital Index is published by the World Bank.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Economic Survey' in India is prepared by:

A. RBI

B. NITI Aayog

C. Department of Economic Affairs, Ministry of Finance

D. National Statistical Office

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Correct Answer: Option C

Explanation:
The Economic Survey is prepared by the Department of Economic Affairs in the Ministry of Finance.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Goods and Services Tax' on shipping services is:

A. 28%

B. 18%

C. 5%

D. 12%

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Correct Answer: Option B

Explanation:
Shipping services attract 18% GST, with some exemptions.

This question belongs to: Economy GK Economy Set 1

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