CBSE 2025, Compartment, Set 1

Question

Read the following statements carefully:
Statement 1: India has been the front runner of advocating the interests of the developing world.
Statement 2: Keeping its commitment, India has not removed the quantitative restrictions.

In the light of the given statements, choose the correct alternative from the following: A). Statement 1 is true and Statement 2 is false. B). Statement 1 is false and Statement 2 is true. C). Both Statements 1 and 2 are true. D). Both Statements 1 and 2 are false.

Edvaya · Accepted Answer

The correct answer is Statement 1 is true and Statement 2 is false.. Statement 1 is true as India has historically championed the cause of developing nations on global platforms like the WTO. Statement 2 is unequivocally false because, as part of the post-1991 trade liberalization and its global WTO commitments, India successfully removed quantitative restrictions on the import and export of almost all goods.

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Economics > Indian Economic Development > Economic Reforms 1991

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