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India has risen 25 places, from 82nd to 57th, in a global ranking of pro-competitive reforms.
The improvement, measured over 2010 to 2023, was reported by the Competere Foundation.
It is based on the 'Market Distortions Performance Index', which assesses efforts to reduce anti-competitive market distortions.
Reforms such as GST, the Insolvency and Bankruptcy Code (IBC) and regulatory modernisation drove the gains.
GS Paper III > Economy > Reforms & Competition
General Awareness > Economy & Reports
India's ranking in the 'Ease of Doing Business Index' is sometimes seen in the news. Which of the following has declared that ranking?
Answer: World Bank
Which of the following has/have occurred in India after its liberalization of economic policies in 1991? 1. Share of agriculture in GDP increased enormously. 2. Share of India's exports in world trade increased. 3. FDI inflows increased. 4. India's foreign exchange reserves increased enormously. Select the correct answer using the codes given below:
Answer: 2, 3 and 4 only
Any intervention or barrier that prevents a market from allocating resources efficiently through free competition