Class 12 Social Studies: Indian Economic Development Since 1991

This worksheet will test your understanding of the major economic reforms and their impacts in India since 1991, covering topics like liberalization, privatization, and globalization.

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Q1. Which of the following was NOT a major component of the New Economic Policy (NEP) introduced in 1991?
- Liberalization
- Privatization
- Globalization
- Nationalization
Q2. The policy of allowing private sector entry into sectors previously reserved for the public sector is known as:
- Liberalization
- Privatization
- Globalization
- Industrialization
Q3. Which international organization played a significant role in advising India on its economic reforms in the early 1990s?
- World Health Organization (WHO)
- United Nations Children's Fund (UNICEF)
- International Monetary Fund (IMF)
- Organisation of Petroleum Exporting Countries (OPEC)
Q4. The policy of reducing tariffs and quotas to promote international trade is an example of __________.
Q5. A major objective of financial sector reforms in India since 1991 was to:
- Increase government control over banks
- Reduce competition among banks
- Give greater autonomy to commercial banks
- Eliminate foreign banks from India

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