| Directions : Read the following statements: Assertion (A) and Reason (R). Choose one of the correct alternative. |
| Assertion (A): To overcome economic crisis and accelerate the growth rate of Indian Economy, New Economic Policy was adopted by the government in July 1991 with elements of Liberalisation, Privatisation and Globalisation. |
| Reason (R): In 1991, India met with an economic crisis relating to its external debt. The government was not able to make repayments on its borrowings from abroad. Foreign exchange reserves dropped to levels that were not sufficient for even a fortnight. |
A) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A).
B) Both Assertion (A) and Reason (R) are true but Reason (R) is not the correct explanation of Assertion (A).
C) Assertion (A) is true but Reason (R) is false.
D) Assertion (A) is false but Reason (R) is true.
Correct Answer: A
Solution :
[a] Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A).
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