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Economic Reforms — Economics STD 11 Commerce — Question

Gujarat BoardEnglish MediumSTD 11 CommerceEconomicsEconomic Reforms2 Marks
Question
Which steps are taken by India for globalization ?
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Answer

  • Since $1991$, following steps have been taken as the part of economic reforms for globalization:
  • The rates of export-import have been reduced.
  • Import became free as licenses for imports have been removed.
  • Progressive foreign exchange rate has been accepted and exchange rate is determined by demand and supply factors.
  • The government has announced the list of industries in which foreign investment has been welcome.
  • The procedure for permission has been simplified

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