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

Question
Which of the following was NOT part of the 1991 economic reforms?
A. Abolition of industrial licensing for most industries
B. Opening up to foreign investment
C. Reduction of import tariffs
D. Nationalization of commercial banks
Answer: Option D
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
Request complete Subject PDF

Discuss this Question (0)

No comments yet. Be the first to start the discussion!

Practice More Economy Set 1 Questions

Question #1
Which of the following is a major source of tax revenue for the Central Government?
A. Only professional tax
B. Only entertainment tax
C. Only property tax collected by local bodies
D. Corporation tax, income tax and central GST
Discuss
Get Complete Subject PDF for Economy GK

Correct Answer: Option D

Explanation:
The major sources of central tax revenue include corporation tax, personal income tax, and the central share of GST, along with customs duties.
This question belongs to: Economy GK Economy Set 1
Question #2
The 'GST Council' does not deal with:
A. GST exemptions
B. GST returns
C. income tax rates
D. GST rates
Discuss
Get Complete Subject PDF for Economy GK

Correct Answer: Option C

Explanation:
Income tax rates are not within GST Council's purview.
This question belongs to: Economy GK Economy Set 1
Question #3
Dumping refers to:
A. buying goods from abroad at lower prices
B. imposing high tariffs on imports
C. exporting goods with subsidies
D. selling goods in a foreign market below cost or home market price
Discuss
Get Complete Subject PDF for Economy GK

Correct Answer: Option D

Explanation:
Dumping is selling goods in a foreign market below cost or home market price.
This question belongs to: Economy GK Economy Set 1
Explore All Economy Set 1 MCQs
Today's Top Topics
Economy Set 1 2220
Explore Subjects
Static General Knowledge 6362 Reasoning 2064 Current Affairs 575 Science 4430 English 15164
Practice Mix
Which of the following is a major source of tax revenue for the Central Government?
Two numbers are in the ratio 11:5 and their sum is 789. Find the numbers.
Which of the following is a characteristic of the 'Lodi' style of architecture?
In a class of 50 students, 60% are boys. Number of girls is:
Select the most appropriate meaning of the idiom: 'In the doldrums'.