Question

The economic reforms were initiated by Narasimha Rao government in?

• A. the 8th five-year plan
• B. the 9th five-year plan
• C. the 7th five-year plan
• D. the 5th five-year plan

Answer 1

Answer:

A. the 8th five-year plan

• Economic reforms in India, which included liberalization, privatization, and globalization (LPG), were indeed initiated during the 8th Five-Year Plan (1992-1997) under the Narasimha Rao government.

• P.V. Narasimha Rao was the Prime Minister of India from 1991 to 1996, and Dr. Manmohan Singh served as his Finance Minister.

• This period is widely recognized as a turning point for the Indian economy, as the government responded to a severe economic crisis by introducing significant structural reforms.