Directions for the following 7 (seven) items: Read the following four passages and answer the items that follow. Your answers to these items should be based on the passages only. Passage - 1 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.
Syllabus Connection
NCERT Connection
Ch.4: Globalisation and the Indian Economy
Economics • Class 10 • Class 10 Understanding Economic Development
Ch.2: Indian Economy 1950-1990
Economics • Class 11 • Class 11 Indian Economic Development
Ch.3: Liberalisation, Privatisation and Globalisation: An Appraisal
Economics • Class 11 • Class 11 Indian Economic Development
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