Read the following passage and answer the items that follow. Your answers to these items should be based on the passage only. Economic liberalization in India was shaped largely by the economic problems of the government than by the economic priorities of the people or by the long-term development objectives. Thus, there were limitations in conception and design which have been subsequently validated by experience. Jobless growth, persistent poverty and rising inequality have mounted as problems since economic liberalization began. And all these years later, four quiet crises confront the economy; agriculture, infrastructure, industrialization and education as constraints on the country's future prospects. These problems must be resolved if economic growth has to be sustained and transformed into meaningful development. Which of the assumptions given below is/are valid? 1. India's economy needs to be greatly integrated with the global economy so as to create a large number of jobs and to sustain its growth momentum. 2. Economic liberalization would cause large economic growth which would reduce poverty and create sufficient employment in the long run.

• A. 1 only
• B. 2 only
• C. Both 1 and 2
• D. Neither 1 nor 2