Which of the following committees was set-up to address issues related to capital account convertibility in India?
Show Hint
- Tandon Committee
- Abid Hussain Committee
- Tarapore Committee
- Percy Mistry Committee
The Correct Option is C
Solution and Explanation
The Tarapore Committee was set up by the Reserve Bank of India in 1997. It was tasked with addressing the issues related to capital account convertibility (CAC) and providing a roadmap for India to move towards full capital account convertibility. The committee made recommendations on the pace and conditions under which CAC could be implemented in India.
Step 2: Identifying the purpose of other committees.
- Tandon Committee: Focused on the credit control and the functioning of commercial banks. It did not specifically address capital account convertibility. - Abid Hussain Committee: Focused on industrial policy and liberalization in India. - Percy Mistry Committee: Focused on improving India's infrastructure and economic reforms, but not directly on capital account convertibility.
Step 3: Conclusion.
The correct answer is (C) Tarapore Committee, as it was specifically set up to address issues related to capital account convertibility in India.
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