Question : Statement 1: The process of globalization has produced only positive results for India.
Statement 2: Market-driven globalization reduces the economic disparities among nations and people.
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.
Correct Answer: Both statements are false.
Solution : The correct answer is (b) Both statements are false.
Statement 1 is false: The process of globalization has not produced only positive results for India or any other country. While globalization has brought various benefits such as increased trade, access to foreign markets, and technological advancements, it has also presented challenges and negative consequences in some areas, such as job displacement, income inequality, and cultural homogenization.
Statement 2 is false: Market-driven globalization does not necessarily reduce economic disparities among nations and people. In fact, globalization can exacerbate existing inequalities and create new disparities, as it may favor economically powerful nations and multinational corporations over smaller or developing economies. The impact of globalization on economic disparities depends on various factors, including the policies and regulations in place to ensure fair and inclusive outcomes.
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Question : Statement 1: The 1991 economic policy in India aimed to address high inflation and fiscal deficit.
Statement 2: The economic reforms of 1991 were initiated under the leadership of Indira Gandhi.
Question : Statement 1: The 1991 economic policy in India aimed to liberalize the Indian economy.
Statement 2: Liberalization refers to the reduction of government restrictions on economic activities.
Question : Statement 1: The 1991 economic policy aimed to address the balance of payments crisis in India.
Statement 2: The economic reforms of 1991 were initiated under the leadership of Rajiv Gandhi.
Question : Statement 1: India, Pakistan, and China have experienced rapid economic growth in recent years.
Statement 2: The growth has been driven by increased investments, technological advancements, and global trade.
Option 3: Statement 1 is true, Statement 2 is false.
Option 4: Statement 2 is true, Statement 1 is false.
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.
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