IAS 1996 — Economy

Assertion (A): An important policy instrument of economic liberalization is reduction in import duties on capital goods. Reason (R): Reduction in import duties would help the local entrepreneurs to improve technology to face the global markets. Which one of the following is correct?

Given below are two statements, one labelled as Assertion (A) and the other labelled as Reason (R): Assertion (A): Though India's national income has gone up several fold since 1947, there has been no marked improvement in the per capita income level. Reason (R): Sizeable proportion of the population of India is still living below the poverty line. In the context of the above two statements which one of the following is correct?

Hawala transactions relate to payments:

A redistribution of income in a country can be best brought about through:

One of the important goals of the economic liberalisation policy is to achieve full convertibility of the Indian rupee. This is being advocated because: