Correct answer: (b) 2, 3 and 4 only
Explanation
- A
1 and 4 only
Option (a) is 1 and 4 only. Agriculture’s share in GDP fell after 1991 as services and industry grew; it did not increase enormously. Statement 1 is false even though forex reserves did rise. This option is not the key.
- B
2, 3 and 4 only
After 1991 liberalisation, India’s share in world exports rose from a very low base, FDI inflows increased, and foreign-exchange reserves rose sharply from the 1991 crisis low. Agriculture’s GDP share declined. Hence 2, 3 and 4 only is the official key.
- C
2 and 3 only
Option (c) is 2 and 3 only. It omits the also-true reserves boom. This option is therefore incomplete and not the key.
- D
1, 2, 3 and 4
Option (d) is all four. Statement 1 on agriculture’s rising GDP share is the opposite of the structural shift. This option is not the key.
Summary. Official key is (b) 2, 3 and 4 only. Liberalisation opened trade and capital accounts relative to the licence-permit years. Export share, FDI and forex reserves increased; agriculture’s GDP weight shrank. Statement 1 is the classic distractor. Only 2, 3 and 4 occurred as stated.
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