Economic Awareness - Sectors of Indian Economy
Which international organization played a key role in supporting India during the 1991 economic crisis?
Which international organization played a key role in supporting India during the 1991 economic crisis?
medium Q5 of 15
Step-by-Step Solution
Step 1: Identify the organization
The question asks which international body supported India during the 1991 crisis.Step 2: Apply knowledge
The IMF provided a bailout package and policy advice to India during the Balance of Payments crisis in 1991. WTO was established later in 1995, ADB and UNDP provide development aid but were not central to 1991 crisis support.Final Answer:
International Monetary Fund (IMF) → Option BQuick Check:
1991 crisis support = IMF ✅
Quick Trick: IMF bailout was crucial in 1991 reforms.
Common Mistakes:
MISTAKES- Confusing WTO or ADB as crisis supporters in 1991.
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