Choose whether the statement is true/false:

Liberalisation has acted as a catalyst for the globalisation process.

see full answer

Your Exam Success, Personally Taken Care Of

1:1 expert mentors customize learning to your strength and weaknesses – so you score higher in school , IIT JEE and NEET entrance exams.

An Intiative by Sri Chaitanya

True

False

answer is B.

(Unlock A.I Detailed Solution for FREE)

Best Courses for You

JEE

NEET

Foundation JEE

Foundation NEET

CBSE

Detailed Solution

The above statement is false.
Liberalisation refers to the removal of trade barriers in an economy. Globalisation is related to integrating a country's economy with the world economy. Liberalisation and globalisation were introduced in India as part of the 1991 reforms with the IMF's intervention. The country's foreign exchange reserves were sufficient only to meet the imports for two weeks. Liberalisation removed trade barriers for other countries, and labour laws favoured them. So, more countries started investing in India, and the whole process of integration of countries started becoming easier. Hence, the correct statement would be that Liberalisation has not acted as a catalyst for globalisation.

Watch 3-min video & get full concept clarity