Chapter 3: Liberalisation, Privatisation and Globalisation: An Appraisal
Economics • Class 11 • Class 11 Indian Economic Development
3
Liberalisation, Privatisation and Globalisation: An Appraisal
Economics • Class 11 • Class 11 Indian Economic Development
Related PYQs (55)
2016•Prelims•Paper 1 (GS)•Q.8
With reference to 'IFC Masala Bonds', sometimes seen in the news, which of the statements given below is/are correct?
1
The International Finance Corporation, which offers these bonds, is an arm of the World Bank.
2
They are the rupee-denominated bonds and are a source of debt financing for the public and private sector.
Indian Economy
2016•Prelims•Paper 1 (GS)•Q.11
In the context of which of the following do you sometimes find the terms 'amber box, blue box and green box' in the news?
Economics - WTO Agriculture Subsidies
2016•Prelims•Paper 1 (GS)•Q.14
Recently, which one of the following currencies has been proposed to be added to the basket of IMF's SDR?
Economics - IMF SDR
2016•Prelims•Paper 1 (GS)•Q.15
With reference to the International Monetary and Financial Committee (IMFC), consider the following statements:
1
IMFC discusses matters of concern affecting the global economy, and advises the International Monetary Fund (IMF) on the direction of its work.
2
The World Bank participates as observer in IMFC's meetings.
Economics - IMFC
2016•Prelims•Paper 1 (GS)•Q.75
'Global Financial Stability Report' is prepared by the
Current events of national and international importance
2016•Prelims•Paper 1 (GS)•Q.77
The term 'Regional Comprehensive Economic Partnership' often appears in the news in the context of the affairs of a group of countries known as
GS-II
2017•Prelims•Paper 1 (GS)•Q.27
The term 'Domestic Content Requirement' is sometimes seen in the news with reference to
Economy
2017•Prelims•Paper 1 (GS)•Q.34
With reference to the 'National Intellectual Property Rights Policy', consider the following statements:
1
It reiterates India's commitment to the Doha Development Agenda and the TRIPS Agreement.
2
Department of Industrial Policy and Promotion is the nodal agency for regulating intellectual property rights in India.
Economic and Social Development
2017•Prelims•Paper 1 (GS)•Q.77
Which of the following has/have occurred in India after its liberalization of economic policies in 1991?
1
Share of agriculture in GDP increased enormously.
2
Share of India's exports in world trade increased.
3
FDI inflows increased.
4
India's foreign exchange reserves increased enormously.
Economy
2018•Prelims•Paper 1 (GS)•Q.26
India enacted The Geographical Indications of Goods (Registration and Protection) Act, 1999 in order to comply with the obligations to
GS-III - Technology, Economic Development, Bio diversity, Environment, Security and Disaster Management
2019•Prelims•Paper 1 (GS)•Q.77
Which one of the following is not a sub-index of the World Bank's 'Ease of Doing Business Index'?
GS-II - International institutions and indices
2020•Prelims•Paper 1 (GS)•Q.56
With reference to Trade-Related Investment Measures (TRIMS), which of the following statements is/are correct?
1
Quantitative restrictions on imports by foreign investors are prohibited.
2
They apply to investment measures related to trade in both goods and services.
3
They are not concerned with the regulation of foreign investment.
Economic and Social Development
2020•Prelims•Paper 1 (GS)•Q.58
With reference to the Indian economy after the 1991 economic liberalization, consider the following statements:
1
Worker productivity (₹ per worker at 2004 - 05 prices) increased in urban areas while it decreased in rural areas.
2
The percentage share of rural areas in the workforce steadily increased.
3
In rural areas, the growth in non-farm economy increased.
4
The growth rate in rural employment decreased.
Economic and Social Development
2020•Prelims•Paper 2 (CSAT)•Q.5
With reference to the above passage, the following assumptions have been made :
1
Biotechnology regulation is an evolving process.
2
Participation of people is needed in policy decisions regarding biotechnology regulation.
3
Biotechnology regulation should take into account socio-economic aspects in decision-making.
4
Wider involvement of political executive in biotechnology regulation improves its effectiveness in dealing with the country's trade policies and international obligations.
CSAT
2020•Prelims•Paper 2 (CSAT)•Q.46
With reference to the above passage, the following assumptions have been made :
1
India's economy needs to be greatly integrated with global economy so as to create large number of jobs and to sustain its growth momentum.
2
Economic liberalization would cause large economic growth which would reduce poverty and create sufficient employment in the long run.
CSAT
2023•Prelims•Paper 1 (GS)•Q.21
Consider the following statements :
Statement-I
Interest income from the deposits in Infrastructure Investment Trusts (InvITs) distributed to their investors is exempted from tax, but the dividend is taxable.
Statement-II
InvITs are recognized as borrowers under the 'Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002'.
Which one of the following is correct in respect of the above statements?
Indian Economy
2023•Prelims•Paper 1 (GS)•Q.25
Consider the following markets :
1
Government Bond Market
2
Call Money Market
3
Treasury Bill Market
4
Stock Market
Indian Economy
2023•Prelims•Paper 1 (GS)•Q.88
Consider the following statements :
Statement-I
India accounts for 3.2% of global export of goods.
Statement-II
Many local companies and some foreign companies operating in India have taken advantage of India's 'Production-linked Incentive' scheme.
Which one of the following is correct in respect of the above statements?
Economy
2025•Prelims•Paper 1 (GS)•Q.1
With reference to investments, consider the following :
I. Bonds
II. Hedge Funds
III. Stocks
IV. Venture Capital
How many of the above are treated as Alternative Investment Funds?
Economic and Social Development
2026•Prelims•Paper 1 (GS)•Q.89
Which one of the following best describes the key objective of India's 'Open Network for Digital Commerce' (ONDC) initiative?
Science and Technology
2026•Prelims•Paper 2 (CSAT)•Q.63
Which of the following conclusions are correct?
1
In the breakaway phase, economic progress is slow for the technology followers.
2
In the catch-up phase, leaders stagnate and followers, therefore, close the gap between them and the leaders.
3
In the fine-tuning phase, technology is exhausted, as it were, and both leaders and followers attempt to extract leftover benefits, leading to more or less similar per capita income levels.
4
Industrial technology followed scavenging, which preceded hunting, which itself was followed by farming.
CSAT
2026•Prelims•Paper 2 (CSAT)•Q.64
Which of the following statements is/are correct?
1
The convergence model divides nations into three phases of economic progress.
2
At the heart of the convergence theory is the closing of the gap between labour and productivity.
3
Technology leaders typically have arrived earlier at different economic eras.
4
The time period covered by the convergence theory presented herein encompasses, as mentioned, 4012200 years.
CSAT
2016•Mains•GS-II•Q.13
Has the Indian governmental system responded adequately to the demands of Liberalization, Privatization and Globalization started in 1991? What can the government do to be responsive to this important change?
GS-II
2016•Mains•GS-II•Q.17
"The broader aims and objectives of WTO are to manage and promote international trade in the era of globalization. But the Doha round of negotiations seem doomed due to differences between the developed and the developing countries." Discuss in the Indian perspective.
GS-II
2016•Mains•GS-III•Q.1
How globalization has led to the reduction of employment in the formal sector of the Indian economy? Is increased informalization detrimental to the development of the country?
Indian Economy
2017•Mains•GS-III•Q.1
Among several factors for India's potential growth, savings rate is the most effective one. Do you agree? What are the other factors available for growth potential?
GS-III
2017•Mains•GS-III•Q.12
Industrial growth rate has lagged-behind in the overall growth of Gross-Domestic-Product (GDP) in the post-reform period. Give reasons. How far the recent changes in Industrial-Policy are capable of increasing the industrial growth rate?
Industrial Policy
2018•Mains•GS-I•Q.19
Globalization is generally said to promote cultural homogenization but due to this cultural specificities appear to be strengthened in the Indian Society. Elucidate.
Globalization and Culture
2018•Mains•GS-III•Q.11
How are the principles followed by the NITI Aayog different from those followed by the erstwhile Planning Commission in India?
GS-III Economic Planning
2018•Mains•GS-III•Q.12
How would the recent phenomena of protectionism and currency manipulations in world trade affect macroeconomic stability of India?
GS-III
2019•Mains•GS-III•Q.2
Do you agree with the view that steady GDP growth and low inflation have left the Indian economy in good shape? Give reasons in support of your arguments.
Indian Economy
2019•Mains•GS-III•Q.12
The public expenditure management is a challenge to the Government of India in the context of budget making during the post-liberalization period. Clarify it.
GS-III
2020•Mains•GS-III•Q.11
Explain the meaning of investment in an economy in terms of capital formation. Discuss the factors to be considered while designing a concession agreement between a public entity and a private entity.
GS-III
2022•Mains•GS-I•Q.20
Elucidate the relationship between globalization and new technology in a world of scarce resources, with special reference to India.
GS-I
2023•Mains•GS-I•Q.20
Discuss the impact of post-liberal economy on ethnic identity and communalism.
GS-I
2023•Mains•GS-III•Q.1
Faster economic growth requires increased share of the manufacturing sector in GDP, particularly of MSMEs. Comment on the present policies of the Government in this regard.
Economy
2024•Mains•GS-I•Q.13
How far was the Industrial Revolution in England responsible for the decline of handicrafts and cottage industries in India?
Economic History
2025•Mains•GS-I•Q.10
Do you think that globalization results in only an aggressive consumer culture? Justify your answer.
GS-I
2025•Mains•GS-III•Q.2
What are the challenges before the Indian economy when the world is moving away from free trade and multilateralism to protectionism and bilateralism? How can these challenges be met?
Indian Economy
2025•Mains•GS-III•Q.12
Discuss the rationale of the Production Linked Incentive (PLI) scheme. What are its achievements? In what way can the functioning and outcomes of the scheme be improved?
GS-III
2026•Mains•GS-I•Q.20
Evaluate the impact of globalization on Indian youths with reference to social, political, economic and cultural spheres.
GS-I
2019•Sociology•Sociology Paper-I•Q.6
(a) Examine the importance of Development Planning in Indian Mixed Economy, and analyze its problems and prospects.
(b) Highlight the main features of the 'Inter-linking of Rivers' project in India. What could be its probable advantages to Indian agriculture?
(c) Has reduction of green cover affected ecological degradation leading to global warming? Elaborate your answer with illustration.
Sociology Optional
2014•Prelims•Paper 1 (GS)•Q.30
According to the passage, under globalization, government interventions are viewed as processes leading to
Economics
2014•Prelims•Paper 1 (GS)•Q.31
According to the passage, the basic philosophy of globalization is to
Economics
2014•Prelims•Paper 1 (GS)•Q.32
According to the passage, which of the following is/are necessary for ensuring globalization?
1
Privatization of public enterprises
2
Expansionary policy of public expenditure
3
Free play of market forces to determine wages and employment
4
Privatization of social services like education and health
Economics
2014•Prelims•Paper 1 (GS)•Q.33
According to the passage, in the process of globalization the State should have
Economics
2014•Prelims•Paper 1 (GS)•Q.34
In which year is the average profit of A and B same?
Economics
2014•Prelims•Paper 2 (CSAT)•Q.30
According to the passage, under globalization, government interventions are viewed as processes leading to
CSAT
2014•Prelims•Paper 2 (CSAT)•Q.31
According to the passage, the basic philosophy of globalization is to
CSAT
2014•Prelims•Paper 2 (CSAT)•Q.32
According to the passage, which of the following is/are necessary for ensuring globalization?
1
Privatization of public enterprises
2
Expansionary policy of public expenditure
3
Free play of market forces to determine wages and employment
4
Privatization of social services like education and health
CSAT
2014•Prelims•Paper 2 (CSAT)•Q.33
According to the passage, in the process of globalization the State should have
CSAT
2014•Prelims•Paper 2 (CSAT)•Q.34
In which year is the average profit of A and B same?
CSAT
2015•Prelims•Paper 1 (GS)•Q.34
Convertibility of rupee implies
Economic and Social Development
2015•Prelims•Paper 1 (GS)•Q.81
With reference to Indian economy, consider the following statements:
1
The rate of growth of Real Gross Domestic Product has steadily increased in the last decade.
2
The Gross Domestic Product at market prices (in rupees) has steadily increased in the last decade.
Economics
2015•Prelims•Paper 2 (CSAT)•Q.61
India has suffered from persistent high inflation. Increase in administered prices, demand and supply imbalances, imported inflation aggravated by rupee depreciation, and speculation have combined to keep high inflation going. If there is an element common to all of them, it is that many of them are the outcomes of economic reforms. India's vulnerability to the effects of changes in international prices has increased with trade liberalisation. The effort to reduce subsidies has resulted in a continuous increase in the prices of commodities that are administered.
What is the most logical, rational and crucial message that is implied in the above passage?
CSAT
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