Q. Which one of the following is correct regarding stabilization and structural adjustment as two components of the new economic policy adopted in India?
Answer: Structural adjustment is a gradual, multi-step process, while stabilization is a quick adaptation process
Notes: New Economic Policy was adopted in 1991 based on Rao-Manmohan model. Stabilization component of any economy is essentially a short-term programme while the structural readjustment component is a long term process.

This question is part of 40000+ MCQs GKToday PCS Mock Tests Series in GKToday Android app. Question Number: 30 in GKToday PCS Mock Test - 223 in above course in App.