Given below is a passage followed by several inferences. Examine the passage…

Given below is a passage followed by several inferences. Examine the passage carefully based on the inferences and then decide the validity of each of the inferences.

The country has taken a major initiative by introducing the convertibility of the rupee on the current account. It has also been declared that the ultimate goal is to make the Rupee fully convertible. These are signs of the country's achieving economic maturity. India is now ready to welcome foreign capital. It is preparing to reduce import tariffs to levels that are currently the norm in other developing countries. All these measures show that India is today mature and strong enough to face International Competition and to integrate itself successfully with the global economy. The country is ready to shed its ideological inhibitions and ready to evaluate the international economic environment in a pragmatic spirit.

An economically immature country does not have any convertibility of currency.