Q.State any three positive effects and any two concerns arising from India's LPG reforms.

The LPG reforms raised India's growth rate, expanded the services/IT sector, and rebuilt foreign-exchange reserves, but also brought concerns like jobless growth and rising inequality. …

Positive effects of the LPG reforms:

1. Higher GDP growth — India's average annual growth rate rose well above the pre-1991 trend, as competition, foreign investment and easier industrial expansion boosted output.
2. Growth of the services sector, particularly IT, software and business-process outsourcing (BPO), which made India a globally recognised exporter of services.
3. Stronger foreign-exchange position — reserves grew from a crisis level in 1991 to a comfortable, many-months import cover in later years, removing the acute BoP vulnerability that had triggered the reforms.

Concerns arising from the reforms:

1. Jobless growth — GDP and industrial output grew faster than employment, especially in organised manufacturing, so growth did not translate proportionately into new jobs. …

Listing only positive effects and ignoring genuine concerns (jobless growth, inequality, agricultural neglect) — exam …