Following the tragic assassination of Indira Gandhi, Rajiv Gandhi assumed the role of Prime Minister. In the subsequent 1984 Lok Sabha elections held shortly thereafter, he guided the Congress to a substantial triumph. As the 1980s came to a conclusion, India encountered a series of five transformative occurrences that were destined to exert a lasting influence on its political landscape.

What term is often used interchangeably with "new economic reforms"?
1) Industrialization Strategy
2) Socialist Overhaul
3) Capitalist Transformation
4) Structural Adjustment Programme

Choose the correct answer from the given options:

4

The third significant development in the 1990s encompassed a distinct shift in economic policy pursued by different governments. This marked the inception of the structural adjustment programme, also referred to as the new economic reforms. Initiated by Rajiv Gandhi, the impact of these alterations became particularly evident in 1991 and led to a profound redirection from the economic course India had followed post-independence. While these policies faced substantial critique from diverse movements and organizations, subsequent governments during this period have persisted in their implementation.