Tarapore committee was associated with which one of the

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Tarapore committee was associated with which one of the following?

1. Special Economic Zone
2. Fully Capital Account Convertiblity
3. Effect of Oil-prices on the Indian economy
4. Foreign Exchange Reserve

Correct Option: B

Current account convertibility was first coined as a theory by the Reserve Bank of India in 1997 by the Tarapore Committee. Full capital account convertibility allows local currency to be exchanged for foreign currency without any restriction on the amount.