Economics · Economic History of India
What was a primary socio-economic objective for nationalizing private life and general insurance companies in India during the pre-reform era?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1To facilitate unregulated commercial lending to high-risk ventures
- 2To mobilize and channel long-term social savings into planned national development✓
- 3To decrease the state's intervention in the financial infrastructure
- 4To maximize foreign exchange reserves via international trade
Correct answer
To mobilize and channel long-term social savings into planned national development
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