Abbreviate full form of 'LPG' in context of Economic Reforms in India in the year 1991 :

Liberalisation, Privatisation & Globalisation

The correct answer is option (1) : Liberalisation, Privatisation & Globalisation

The correct abbreviation of 'LPG' in the context of Economic Reforms in India in the year 1991 is: Liberalisation, Privatisation & Globalisation

During the economic reforms of 1991 in India, 'LPG' stood for Liberalisation, Privatisation, and Globalisation, reflecting the key policy measures implemented to open up the Indian economy and integrate it more closely with the global economy.