Which one of the following is correct regarding stabilization and structural adjustment as two components of the new economic policy adopted in India ?
Options
(a)Stabilization is a gradual, multistep process while structural adjustment is a quick adaptation process
(b)Structural adjustment is a gradual, multistep process, while stabilization is a quick adaptation process
(c)Stabilization and structural adjustment are very similar and complementary policies. It is difficult to separate one from the other
(d)Stabilization mainly deals with a set of policies which are to be implemented by the Central Government while structural adjustment is to be set in motion by the State Governments
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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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