Economic liberalization in India was shaped largely by the economic problems
Economic liberalization in India was shaped largely by the economic problems of the government than by the economic priorities of the people or by the long-term development objectives. Thus, there were limitations in conception and design which have been subsequently validated by experience. Jobless growth, persistent poverty and rising inequality have mounted as problems since economic liberalization began.
And all these years later, four quite crises confront the economy; agriculture, infrastructure, industrialization and education as constraints on the country’s future prospects. These problems must be resolved in economic growth has to be sustained and transformed into meaningful development.
Which of the following is/are the most rational and logical inference/inferences that can be made from the passage?
- It is essential to rethink and redefine the economic role of the State in the quest for development.
- India has not made effective implementation of its policies in social sectors nor made sufficient investments in them.
Select the correct answer using the code given below.
- 1 only
- 2 only
- Both 1 and 2
- Neither 1 nor 2
Answer: A
Explanation
Statement 1 is Correct: The 1st sentence in the passage highlights the economic role of the state or government in quest for economic development of the people as economic liberalization in India was largely shaped by the economic problems of the government than by the economic priorities of the people.
Statement 2 is not the correct inference: Passage nowhere infers about ineffective implementation of policies in social sector not about insufficient investment in them by Indian government.
- Exam Year: 2020