1991 Archives - Assam PCS Exam Notes

DMPQ: In India still after 1991 reforms there is ambivalence towards private sector. Explain with the example( Economy)

Private sector is perceived to be guided by profit maximisation and it was considered to be anti to the objective of independent India. Hence socialism was seen as an alternative to it. This deep rooted notion about private sector is more in India. Following examples are testament to it: In civil aviation sector, there … Read more

DMPQ:Economic reforms of 1991 was the major landmark in Indian Economic History. Outline the reasons which forced India for economic reforms.

The major reasons are: Rise in Prices and galloping inflation. It surged from 6.7% to near about 16% Increase in the Fiscal deficit. Increase in non -development expenditure. Adverse Balance of payment and pressure on Balance of Payment. Iran-Kuwait war led to increase in Petrol price and hence pressure on Indian Imports. Adopted approach of … Read more

DMPQ: Post 1991 Indian economy saw a sudden change in outlook. To bring reforms in the financial sector GOI set up Narsimha committee. Discuss its recommendation.

It was in the wake of the Liberalisation in 1991 that it cecame imperative for the government to reform the financial sector in order to reinvigorate the economy. GOI set up committee under the guidelines of Narsimha. Recommendation: It advised the RBI not to use CRR as a principal investment of monetary and credit control … Read more

DMPQ: Post 1991 reform era has seen a major changes in the tax system. Discuss the changes( economics)

The 1991 is a hallmark year as it launched Indian into a new era of economic freedom. It majorly changed our economy from controlled to a free economy. One of the ingredient was tax reforms. The major changes one can observed in the tax system are as follows: Widening of tax bases both by addition … Read more