Question
What were the main reforms in the foreign trade sector?

Answer

Main reforms in the foreign trade sector were:
  1. Dismantling of quantitative restrictions on imports and exports.
  2. Reduction of tariff rates.
  3. Removal of licensing procedures for imports.
Foreign exchange regulations were liberalised, foreign investment was encouraged, import regulations were simplified.

Need a full question paper?

Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.

Start Generating Free

Similar questions

Mention the various indicators of human development.OR
Mention any three indicators of human development.
Differentiate between Self Reliance and Self Sufficiency.
How do certain animals help in biopest control?
A study estimates that medical costs alone push down 2.2% of the population below the poverty line each year. How?
Write a short note on WTO.
Read this excerpt of a news item from a daily newspaper describing something that is now becoming increasingly common.
"On a morning, a few minutes before 7A.M., Greeshma sat in front of her computer with her headset on and said in accented English 'Hello, Daniella'. Second later, she gets the reply, 'Hello, Greeshma'. The two chatted excitedly before Greeshma said that we will work on pronouns today'. Nothing unusual about this that except that Greeshma, 22, was in Kochi and her student Daniella, 13, was at her home in Malibu, California. Using a simulated whiteboard on their computers, connected by the Internet, and a copy of Daniella's textbook in front of Greeshma, she guides the teenager through the intricacies of nouns, adjectives and verbs. Greeshma, who grew up speaking Malayalam, was teaching Daniella English grammar, comprehension and writing." 
  1. How has this become possible? Why can't Daniella get lessons in her own country? Why is she getting English lessons from India, where English is not the mother tongue? 
  2. India is benefitting from liberalisation and integration of world markets. Do you agree?
Write a short note on Operation Flood'.
Why is India's dependence on the imports of crude and petroleum products a negative feature of our energy sector?
What is rural development? What does it include?
What is the difference between relative and absolute poverty? Which measure is generally used to determine these types of poverty?