In 1991, the "New economic policy" was classified into which 2 groups?

Stabilisation measure and Structural reforms

The correct answer is Option 4: Stabilisation measure and Structural reforms

The policy was divided into 2 groups i.e. Stabilisation measure and Structural reforms. Stabilising measures were short-term measures, intended to correct some of the weaknesses that had developed in the balance of payments and to bring inflation under control whereas, Structural reforms were long-term measures, aimed at improving the efficiency of the economy and increasing its international competitiveness by removing the rigidities in various segments of the Indian economy.