__________________ refers to the sale of equity of public sector units in the market.

1. Liberalisation.
2. Globalisation.
3. Disinvestment.
4. Privatisation.

Which is the latest tax introduced by the government of India? (Choose the correct alternative):

1. Goods and Services tax.
2. Value-added tax.
3. Service tax.
4. Corporation tax.

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.

Which of the following factors cause government to undertake programmes of public sector reforms?

1. Economic inefficiency in the production activities of the public sector.
2. Rapid and unreasonable expansion of bureaucracy.
3. Lack of accountability and corruption.
4. All the above.

How many industries are reserved for public sector at present?

1. 4
2. 17
3. 10
4. 3

Which duty has been removed to increase the competitive position of Indian goods in the international markets?

1. Custom duty.
2. Export duty.
3. Import duty.
4. None of the above.

As a part of globalisation process, tariff rates were _____________ in India.

1. Raised.
2. Lowered.
3. Not changed.
4. Abolished.

The pre-condition of privatisation to be successful requires:

1. Liberalisation and de-regulation of the economy.
2. Capital markets should be sufficiently developed.
3. Both (a) and (b).
4. None of these.

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 is not a method of privatisation?

1. Disinvestment.
2. Sale of PSUs to private sector.
3. Contraction of PSUs.
4. Sale of PSUs to government.