Assertion (A): An important policy instrument of economic liberalization is reduction in import duties on capital goods. Reason (R): Reduction in import duties would help the local entrepreneurs to improve technology to face the global markets. In the context of the above two statements, which one of the following is correct ?
Options
(a)Both A and R are true and R is the correct explanation of A
(b)Both A and R are true and R is not a correct explanation of A
(c)A is true but R is false
(d)A is false but R is true
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Class 11Liberalisation, Privatisation and Globalisation: An Appraisal— NCERT Economics, Chapter 3. In 1991 India faced an external debt crisis: foreign exchange reserves fell below two weeks of imports, prices rose, and no one would lend. Rooted in the fiscal and…
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