Between 1991 and 2004, India's economy liberalized and grew significantly. While industrial imports (raw materials, capital goods) also rose, increasing population and rising incomes led to higher demand for essential food items. Domestic production of commodities like edible oil, pulses, and sugar often lagged behind demand, necessitating increased imports to bridge the gap. This was a notable compositional shift in India's import basket during this period.
What was the change in composition of India's import from 1991 to 2004 ?
Asked in MPSC CS Prelims 2012 · Topic: Current Account and Capital Account (Policy Measures to Manage Current Account and Capital Account Balances)
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Answer: B. Rise in import of edible oil, pulses, sugar etc.
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