As a result of the recommendations of S.S. Tarapore Committee (1997), India has achieved full (1)…
India achieved full current account convertibility in August 1994, when it accepted the obligations of Article VIII of the IMF Articles of Agreement. That was before the…
Choose your answer
As a result of the recommendations of S.S. Tarapore Committee (1997), India has achieved full
(1) Current Account Convertibility.
(2) Capital Account Convertibility.
Answer and explanation
Correct answer D
India achieved full current account convertibility in August 1994, when it accepted the obligations of Article VIII of the IMF Articles of Agreement. That was before the Tarapore Committee and not a result of it.
The Tarapore Committee of 1997 drew up a road map for capital account convertibility, but India has not adopted full capital account convertibility, so neither statement is correct.
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