Discussion
The economic liberalization was introduced in
Answer: A
Correct answer: 1991
Economic liberalisation was introduced in 1991, when a balance-of-payments crisis left India with reserves sufficient for only a few weeks of imports and forced a reappraisal of policy.
The response combined devaluation, the New Industrial Policy of July 1991 - which abolished industrial licensing for most sectors and opened areas previously reserved to the public sector - trade liberalisation and the opening of the economy to foreign investment. The reforms are associated with Prime Minister P. V. Narasimha Rao and Finance Minister Manmohan Singh, and 1991 is the standard date for the change of direction.
No comment is present. Be the first to comment.
Loading…
Post your comment
Please log in or register to post a comment.
Examination Categories
- SSC Exams
- Banking Exams
- Teaching Exams
- Civil Services Exams
- Railways Exams
- Engineering Recruitment Exams
- Defence Exams
- State Government Exams
- Police Exams
- Insurance Exams
- Nursing Exams
- Other Government Exams
- NRA CET
- PG Entrance Exams
- Campus Placement
- MBA Entrance Exams
- CUET and UG Entrance
- Judiciary Exams
- Regulatory Body Exams
- Software Development