From which year the long phase of Globalization, Liberalization and Privatization began in India?
Answer & explanation
Correct answer: option 4
The correct answer is Option (4) → 1991
The new economic reforms, also called the structural adjustment programme, were started by Rajiv Gandhi, but these changes first became very visible in 1991 and radically changed the direction of the Indian economy.
NCERT (2026-27): “Context of the 1990s … Third, the economic policy followed by the various governments took a radically different turn. This is known as the initiation of the structural adjustment programme or the new economic reforms. Started by Rajiv Gandhi, these changes first became very visible in 1991 and radically changed the direction that the Indian economy had pursued since Independence.…” |