| India's journey to prosperity is primarily in increasing productivity. In the last 25 years, many major initiatives have induced productivity growth. What are they? |
| 1. Tax policy reforms |
| 2. Floating of exchange rate |
| 3. Establishment of equity market |
| 4. Shrinking of license raj |
| Select the correct answer using the codes given below: |
A) 1 and 2
B) 1 and 3
C) 1, 2 and 3
D) 1, 2, 3 and 4
Correct Answer: D
Solution :
[d] While the productivity of firms is the consequence of decisions by managers of firms, these actions are strongly shaped by government policies, laws, and regulations. In the last 20 years, many major initiatives have induced productivity growth, including rationalisation of tax policy, removal of trade barriers, shrinking of the license raj, floating of the exchange rate, and establishment of an equity market.
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