Practicing Success

Target Exam

CUET

Subject

Economics

Chapter

Indian Economic Development: Liberalisation, Privatisation and Globalisation - An Appraisal

Question:
What is the main focus of the New Economic Policy (NEP) of India implemented in 1991?
Options:
Poverty alleviation programs
Social sector development
Economic reforms and liberalization
Export Substitution strategy instead of impost substitution strategy
Correct Answer:
Economic reforms and liberalization
Explanation:
The thrust of the NEP was towards creating a more competitive environment in the economy and removing barriers to entry and growth of firms.