The term ‘New Economic Policy’ is used to describe the policies adopted in India since:
Answer & explanation
Correct answer: option 2
The correct answer is Option (2) → 1991
The New Economic Policy means the policies India adopted since 1991. Problems with the earlier controls led the government to introduce it.
NCERT (2026-27): Glossary: “New Economic Policy – A term used to describe the policies adopted in India since 1991.” “2.5 Trade Policy: Import Substitution … Owing to all these conflicts, economists called for a change in our policy. This, alongwith other problems, led the government to introduce a new economic policy in 1991.” |