The BOP crisis of early 1990s made India borrow from the IMF which came on following conditions
A. Devaluation of rupee by 22%
B. Drastic custom cut to a peak duty of 30% from the erstwhile level of 130% for all goods
C. Consolidation of all indirect taxes into one tax
D. Excise duty to be increased by 20% to neutralize the loss of revenue due to custom cut
E. Government expenditure to be cut by 10% per annum.
Choose the correct answer from the option given below:
1
A, B, C, E only
2
B, C, D, E only
3
C, D, E, A only
4
A, B, D, E only