Note :There are two Sections A and B. Attempt any three questions from Section A. Section B is compulsory.

1 Briefly discuss the forces which prompted the government of India to usher in economic reforms in 1991. How have these economic reforms affected the nature of Government intervention in the economy? Explain fully with examples.

2 What is business environment? Why is it important for a manager to stay in tune with this environment? Explain the major components of business environment in India?

3 Identify and critically examine the constraints in the growth of private sector in India.

4 What are the main components of the current account? Explain. What are the main elements of the capital account? Explain. Would you recommend capital account convertibility for a developing country like India?

5 Briefly analyse the trends in the growth of foreign capital and technical collaborations in India during 90s. Explain how India's foreign investment policy of the 90s is a major departure from the past.

6 Examine the impact of economic reforms on poverty, employment and social security What strategy of economic reform measures is suitable for achieving development with a 'human fact'?

7. Write short notes on any two of the following:

(a) Social responsibility of business

(b) Industrial sickness

(c) debt servicing burden of India