(i) "Import substitution policy, if not applied carefully, can be a double-edged sword for any economy." Do you agree with the given statement ? Justify your answer with valid arguments. (ii) State how multilateral trade is different from bilateral trade. (i) Discuss briefly, causes and consequences of the tax reforms initiated during economic reforms in India. (ii) Give one example each of a Navratna and a Maharatna company in the public sector in India.