List of top Economics Questions on Economic Reforms asked in CBSE CLASS XII

Distinguish between stabilising measures and structural measures, as taken up by the Government of India in 1991.

“The trade and investment policy initiated by the Indian Government during 1991 economic reforms involved some major decision-making with respect to local industries.” Elaborate any two major decisions and their respective impacts on the Indian economy.

Discuss briefly, causes and consequences of the tax reforms initiated during economic reforms in India.

"Indian economy has hugely benefited by the disinvestment policy adopted by the Government of India in the post-1991 period." Defend or refute the given statement with valid arguments.

Discuss briefly the foreign exchange reforms undertaken by the Government of India in the post 1991 period.

“Indian economy has greatly benefitted by the process of globalisation.”
Justify the given statement with valid arguments.

Distinguish between Multilateral Trade and Bilateral Trade.

Appraise the Navratna policy adopted by the Government of India in the reforms of 1991.

Read the following statements – Assertion (A) and Reason (R). Choose the correct alternative from the options given below:
Assertion (A): Excessive regulation of permit license raj prevented certain private firms from becoming more efficient.
Reason (R): Private sector wasted a significant time in obtaining licenses rather than enhancing product quality and international competitiveness.

Indian labour market indicators have improved in the last six years, as per the Periodic Labour Force Survey Data. The unemployment rate has fallen to 3.2% in 2022–23. Rising youth and female participation in the workforce present an opportunity to tap the demographic and gender dividend. The factory employment data exhibits the bounce back of the organised manufacturing sector in FY 2022–23 with rise in employment and the upscaling of factories.
The net payroll additions under EPFO have more than doubled in the past five years, signalling healthy growth in formal employment.
To generate and sustain quality employment, agro-processing and care economy are two promising candidates.
On the basis of the given text and common understanding, answer the following questions:

(b)(i) "After 1991, reforms in the external sector led to an increase in foreign exchange inflows". Justify the given statement with a valid argument.

As per a news report dated 8th Oct. 2021, the Government of India sold its entire 100% stake in Air India. Tata Sons, the original founder of Air India, won the bid and purchased the airline for 18,000 crore.
(1) Identify the step taken by the Government of India.
(2) State any two ways in which the identified step can be executed by the government.

The real motive behind infrastructural development in India was to strengthen the British interests. Do you agree with the given statement? Justify your answer with valid arguments.

“Trade and Investment Policy of India had undergone comprehensive changes in the post reforms period of 1991.” Do you agree with the given statement? Justify your answer with any two valid arguments.

Economic reforms were introduced in the year _______ in India and in the year _____ in Pakistan. (Fill up the blanks with the correct alternative.)