Topic 5.5 · Economy · External Sector
IMF, World Bank & WTO is studied as part of "External Sector" (Fiscal & External Sector) in Economy. The external sector — balance of payments, foreign trade, exchange rates and global institutions — links the Indian economy to the world.
In the examination context, imf, world bank & wto carries conceptual questions that test both factual recall and analytical understanding. Revise this topic in sequence with the rest of the chapter so that chronological and thematic links are clear.
| 1991 | Balance of payments crisis → liberalisation |
| 1993 | Market-based exchange rate adopted |
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