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Which organisation provided financial support to India during the 1991 economic crisis?

AUnited Nations

BWorld Trade Organization

CInternational Monetary Fund

DAsian Development Bank

Answer:

C. International Monetary Fund

Read Explanation:

The International Monetary Fund (IMF) provided financial support to India during the 1991 economic crisis. India had to secure an emergency loan of 2.2 billion dollar from the International Monetary Fund by pledging 67 tonnes of Gold as collateral security. In May 1991, India sent 20 tonnes of Gold to Union Bank of Switzerland, Zurich and in July, 47 tonnes of Gold was given to Bank of England to raise a total of 600 million dollar.


Related Questions:

Find out the economic measures adopted by India as a part of liberalization from the following statements:

i.Relaxation of control in setting up industries

ii.Reduction of import tariff and tax

iii.Changes in foreign exchange rules.

iv.Abolition of market control

What benefits has globalization brought to rural areas in India?

  1. Extension of internet facilities and infrastructure has led to rural development and inclusive growth.
  2. Increased investments in rural areas have enhanced agricultural productivity and income.
  3. Globalization has accelerated the integration of rural communities into global value chains

    How has globalization impacted the socio-economic landscape of India?

    1. Increased market competition has bolstered domestic industries, promoting economic growth.
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      1991 ൽ പുതിയ സാമ്പത്തിക നയം അവതരിപ്പിക്കാൻ പ്രേരിപ്പിച്ച ഏറ്റവും അടിയന്തിര പ്രശ്‌നം ഏതായിരുന്നു ?
      Which Finance Minister in 1991 initiated a series of reforms that freed up the Indian economy and put the country on a strong growth path?