1. What is meant by business environment? What is its significance. Describe briefly economic and non economic components of business environment. (2+3+15)

2. Explain the meaning of economic development. Discuss important goals of economic development. . (5+15)

3. Outline the main objectives of the new industrial policy, 1991. Discuss various measures taken for achieving these objectives. (5+15)

4. Explain the role of foreign capital in the industrialization of any country. What are its shortcomings? (10+10)

5. Write short notes on the following: (4x5)

(a) Social responsibilities of business

(b) Objectives of fiscal policy

(c) Reforms in public sector

(d) Balance of payments