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· The macroeconomic imbalances of the late 1980s and early 1990s pushed the government towards introducing the structural reforms of 1991. The high combined deficit of the central and state governments, elevated inflationary pressures, and large and unsustainable current account deficit (CAD) led to a balance of payments crisis in the Indian economy. In response to the situation, trade and investments were liberalised in 1991. · Import licensing on almost all intermediate inputs and capital goods was done away with, and the entry restrictions for firms were simplified. The new policy encouraged the entry of private sector firms by ending the public sector monopoly in many sectors and initiating the automatic approval policy for FDI up to 51 per cent. The exchange rate was made flexible and allowed to depreciate as necessary to maintain competitiveness. The rupee was made fully convertible on the current account and partially on the capital account. These reforms had a positive effect on the economy. · The product and capital market reforms continued slowly over the decade of the 1990s through the introduction of New Telecom Policy 1999. And the government set up a dedicated Ministry to take this agenda forward. It sold equity stakes in some CPSEs and privatised companies such as Maruti Udyog, Hindustan Zinc, Bharat Aluminum, and Videsh Sanchar Nigam Limited.
The Life Insurance Companies Act was passed in which year?
What is NOT an element of an insurance contract?
A policy that covers the loss of profits due to damage to machinery is:
Which part of the policy includes details such as policy duration and limits of liability?
Coverage against loss through stealing by individuals not in a position of trust is called?
Specific questionnaires in insurance proposal forms are common for:
What percent of shareholding is under National Bank for Agriculture and Rural Development (NABARD) in Agriculture Insurance Company of India Limited?
An agreement between an insurance company and an agent, granting the agent authority to write insurance from that company is called?
The 'No Claim Bonus' is calculated based on:
Which of the following term is used when the loss is caused by two or more causes acting simultaneously or one after the other?