Question : Which sector witnessed increased competition due to liberalization in India?
Option 1: Agriculture
Option 2: Education
Option 3: Health care
Option 4: Telecom and communication
Correct Answer: Telecom and communication
Solution : The correct answer is (d) Telecom and communication
Liberalization in India brought about significant changes in various sectors, and one of the sectors that witnessed increased competition as a result was the telecom and communication sector.
Prior to liberalization, the telecom sector in India was dominated by the state-owned telecommunications company, providing limited services and experiencing inefficiencies. With the introduction of liberalization policies, the sector was opened up to private players, leading to increased competition and the entry of new telecom companies.
Increased competition in the telecom sector resulted in better quality services, expanded coverage, and lower costs for consumers. It also spurred innovation, investment in infrastructure, and the adoption of advanced technologies, contributing to the rapid growth and transformation of the sector in India.
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Question : Which sector was primarily targeted for privatization in India?
Option 4: Public enterprises
Question : The 1991 economic policy led to the liberalization of which sector in India?
Option 2: Healthcare
Option 3: Services
Option 4: Public transportation
Question : The 1991 economic policy led to the deregulation of which sector in India?
Option 1: Energy
Option 2: Transportation
Option 3: Agriculture
Option 4: Education
Question : Which is the biggest tax-paying sector in India as of 2016?
Option 1: Agriculture sector
Option 2: Industrial sector
Option 3: Transport sector
Option 4: Banking sector
Question : Statement 1: Liberalization of the financial sector in India aimed to promote competition among banks.
Statement 2: The Reserve Bank of India (RBI) was abolished as part of financial sector reforms.
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.
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