Economics · Economic Reforms 1991
Following the 1991 economic reforms, India shifted toward a more open and market-driven economy. While foreign exchange reserves increased and tariffs reduced sharply, critics argue that income inequality widened. Which of the following is the most accurate interpretation of this transition?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Privatization reduced employment opportunities equally across all sectors
- 2Economic reforms initially benefited capital-intensive and skill-intensive sectors more✓
- 3Globalization caused structural deflation
- 4Liberalization led directly to highly inclusive growth
Correct answer
Economic reforms initially benefited capital-intensive and skill-intensive sectors more
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