Identify the sequence of  various approaches adopted by the Indian Government towards the development of the economy :

(A) Commencement of economic planning

(B) Giving greater role to public sector in nation building process

(C) Establishment of NABARD

(D) Change in outlook from 'Inward' to 'Outward'

(E) Adoption of LPG Policy

Choose the correct answer from the options given below :

(A), (B), (C), (E), (D)

The correct answer is option (2) : (A), (B), (C), (E), (D)

(A) Commencement of economic planning : 1950

(B) Giving greater role to public sector in the nation-building process : 1956 (Industrial Policy resolution 1956)

(C) Establishment of NABARD 1982:

(E) Adoption of LPG Policy 1991 : Liberalization, Privatization, and Globalization policies were implemented to open up the Indian economy to the world.

(D) Change in outlook from "Inward' to 'Outward. Post 1991 reforms' : This shift reflects a move towards greater integration with the global economy. While the LPG policy was the catalyst, the comprehensive shift from an Inward-Looking Trade Strategy (Import Substitution) to an Outward-Looking Trade Strategy (Export Promotion and Global Integration) became the defining feature of the Indian economy throughout the late 1990s and 2000s.