Question : Statement 1: Trade reforms aimed to reduce import tariffs and promote exports.

Statement 2: Import substitution was the main objective of trade reforms in the 1991 economic policy.

Option 1: Both statements are true.

Option 2: Both statements are false.

Option 3: Statement 1 is true, and statement 2 is false.

Option 4: Statement 1 is false, and statement 2 is true.

Question : Statement 1: External sector reforms focused on promoting foreign trade and investments.

Statement 2: Liberalization of the external sector led to a decrease in imports and an increase in exports.

Option 1: Both statements are true.

Option 2: Both statements are false.

Option 3: Statement 1 is true, and statement 2 is false.

Option 4: Statement 1 is false, and statement 2 is true.

Question : Statement 1: External sector reforms in India aimed to attract foreign direct investment (FDI).

Statement 2: External sector reforms focused on imposing stricter trade barriers.

Option 1: Both statements are true.

Option 2: Both statements are false.

Option 3: Statement 1 is true, and statement 2 is false.

Option 4: Statement 1 is false, and statement 2 is true.

Question : Statement 1: Trade reforms aimed to remove trade barriers and promote free trade.

Statement 2: Import substitution was the main objective of trade reforms in the 1991 economic policy.

Option 1: Both statements are true.

Option 2: Both statements are false.

Option 3: Statement 1 is true, and statement 2 is false.

Option 4: Statement 1 is false, and statement 2 is true.

Question : Statement 1: Financial sector reforms aimed to improve access to financial services for all sections of society.

Statement 2: The 1991 economic policy led to the nationalization of banks in India.

Option 1: Both statements are true.

Option 2: Both statements are false.

Option 3: Statement 1 is true, and statement 2 is false.

Option 4: Statement 1 is false, and statement 2 is true.