Question

To make India a globally competitive economy, there must be a larger focus on exporting to the most demanding markets. A stronger participation of Indian Micro, Small and Medium Enterprises (MSMEs) in the global market can accelerate such a growth. This will lead to more opportunities in scaling up production, will speed up innovation and productivity. The MSME sector in India is the backbone of our country's economic structure and without this the country cannot progress. With over 63 million, MSME units, this sector covers 80% of the industries. This sector accounts for 31 % of GDP and 45% of total exports. It is also thee second largest employer in India providing jobs to over 120 million people. The MSME's should work towards becoming a part of global value chains (GVCs). It must also, find new opportunities to integrate themselves with the GVCs as exporters.

______ is the outcome of structural measure under new economic policy.

1. Improves efficiency
2. Increase International Competitiveness
3. Remove Rigidities

Options

• (i) only

• (i) and (ii)

• (i), (ii) and (iii)

• (iii) only

Answer 1

Improves efficiency, Increase International Competitiveness and Remove Rigidities is the outcome of structural measure under new economic policy.

Explanation:

Dr. Manmohan Singh, the finance minister at the time, created the New Economic Policy in 1991, which has eliminated inflexibilities, enhanced efficiency, and raised global competitiveness.