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Q57 (CAPF/2017) Economy › Industry, Infrastructure & Investment › Financial sector structure Answer Verified

Match List I with List II and select the correct answer using the code given below the Lists : List I List II (Committee) (Subject) A. Rangarajan 1. Tax Reform Committee 2. Insurance Reform B. Narsimhan Committee 0 ~ 3. Disinvestment of C. Kelkar shares in PSEs Committee 4. Banking Sector D. Malhotra Reform Committee Code : A B C D

Result
Your answer: —  Â·  Correct: C
Explanation

The correct matching of committees to their subjects is as follows: A-3, B-4, C-1, D-2. The Rangarajan Committee (1993) was specifically reconstituted to provide recommendations on the disinvestment of shares in Public Sector Enterprises (PSEs) [2]. The Narasimham Committee (1991) is renowned for its comprehensive recommendations on banking sector reforms, including the reduction of SLR and CRR to improve the financial system's efficiency. The Kelkar Committee, particularly the one formed in 2002, focused on tax reforms, including direct and indirect tax simplification and the eventual implementation of GST [1]. Finally, the Malhotra Committee (1994) was established to suggest reforms for the insurance sector, leading to the opening of the industry to private players and the establishment of IRDA. This sequence corresponds to option 3.

Sources

  1. [2] https://www.rbi.org.in/upload/Publications/PDFs/58851.pdf
  2. [1] Indian Economy, Vivek Singh (7th ed. 2023-24) > Chapter 3: Money and Banking - Part II > 3.1 History of Indian Banking and Reforms > p. 127
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