Answer the following questions in 25 to 30 words.

1. How was 1991 a year of important changes in the history of the world and of India?

2. What are the characteristics of the Indian economy?

1. The importance of year 1991 for the changes which had happened during this year are listed below.

i. The Soviet Union disintegrated into several different small countries and the Cold War came to an end.

ii. In India, the Government under the leadership of Prime Minister P.V. Narasimha Rao initiated many changes in the Indian economy.

iii. Ram Janmabhumi and Babri Mosque issue at Ayodhya came to the forefront.

2. The characteristics of the Indian Economy are listed below.

i. modernisation of economy.

ii. economic self-sufficiency.

iii. social justice.

iv. India wanted to acquire modernity and self-reliance by establishing industries.