GATT stands for:

1. General Agreement on trade and tariff.
2. Governments Association for trade and tariff.
3. General Agreement on terms of trade.
4. Government Agreement on terms of trade.

The origin of the financial crisis can be traced from the inefficient management of the Indian economy, which of the following reasons are responsible?

1. Government did not able to generate sufficient revenue.
2. Government expenditure began to exceed its revenue.
3. Government borrowed money for meeting consumption needs.
4. All of the above.

LPG stands for:

1. Liberalisation, Production and Global Cooperation.
2. Liberalisation, Privatisation and Globalisation.
3. License, Privatisation and Globalisation.
4. License, Permit and Goods.

__________________ means the excess of anticipated expenditures over estimated revenue.

1. Surplus.
2. Deficit.
3. Loss.
4. Profit.

________ was the predecessor organisation to World Trade Organisation (WTO).

1. International Bank for Reconstruction and Development (IBRD)
2. International Monetary Fund (IMF)
3. Reserve Bank of India (RBI)
4. General Agreement on Tariffs and Trade (GATT)

_______ sector remained stagnant during reform period.

1. Primary Sector.
2. Secondary Sector.
3. Tertiary Sector.
4. All of the above.

_______ sector has got maximum boost from new economic policy 1991.

1. Primary Sector.
2. Secondary Sector.
3. Tertiary Sector.
4. All of the above.

Name the Finance Minister who took a decision to introduce reforms in India.

1. P. Chiambaram.
2. Narsimha Rao.
3. Dr. Manmohan Singh.
4. Arun Jetli.

Which of the following organisations settles the disputes among the member countries?

1. IME
2. World Bank
3. WTO
4. None of the above.

What was the immediate crisis India faced in the beginning of the 1990s?

1. Inflation.
2. Debt trap.
3. Foreign exchange crisis.
4. All of the above.