Question

When were economic reforms introduced in India focusing on liberalisation, privatisation and globalisation?

• A. 2010
• B. 2000
• C. 1975
• D. 1991

Answer 1

Answer:

D. 1991

India introduced economic reforms focusing on liberalization, privatization, and globalization (LPG reforms) in 1991, triggered by a balance of payments crisis. India made LPG reforms in 1991. LPG reforms are also known as liberalisation, privatisation and globalisation reforms. They have transformed the way India as an economy works and opened the country up to the world for trade and commerce.