Question

In which year did India introduce economic reforms, leading to globalisation?

• A. 1991
• B. 1985
• C. 2010
• D. 2001

Answer 1

Answer:

A. 1991

India introduced economic reforms leading to globalization in 1991. These reforms, initiated by the government of Prime Minister P.V. Narasimha Rao, aimed to liberalize the economy and integrate it with the global market. The economic reforms in India in 1991 led to the liberalisation of the economy and significant improvement in its growth rate. These reforms started under the then Prime Minister of India, Narasimha Rao, and it had three main objectives – Liberalisation, Privatisation and Globalisation (LPG).