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In 1991 India approached which body for funds during its balance of payment crisis?
AThe International Monetary Fund
BThe World Trade Organisation
CThe Asian Development Bank
DThe United Nations Assembly
Answer & Solution
Correct answer: A. The International Monetary Fund
1. India was under a severe debt trap.
2. Funds came with conditions for structural change.
3. The body was the International Monetary Fund.
_Source: NCERT Class 11 Business Studies, Chapter 11, International Business._
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