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

A2010

B2000

C1975

D1991

Answer:

D. 1991

Read Explanation:

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.

Related Questions:

Which of the following statements accurately describes the industrial policy of India before the liberalisation, Globalisation and Privatisation reforms?
What was one of the main goals of the Industrial Policy after 1991?
Which one of the following is not a feature of privatisation?

The main objective of the New Economic Policy (NEP) of India (1991)

  1. i. To bring down poverty and unemployment.
  2. To bring down the rate of inflation and remove imbalances in payment.
  3. To move towards a higher economic growth rate and build sufficient foreign exchangereserves.
  4. To plunge the Indian economy into the arena of Globalization and to give it a newthrust on market orientation.

Which of the above statements are not correct ? 

 

Which Finance Minister in 1991 initiated a series of reforms that freed up the Indian economy and put the country on a strong growth path?