Responding to a financial crisis and to the desire for higher rate of economic growth, India embarked on a programme of economic reforms of globalisation, liberalisation and privatisation in which year?

1991

The correct answer is Option 2 - 1991

In 1991, responding to a financial crisis and to the desire for higher rates of economic growth, India embarked on a programme of economic reforms that has sought increasingly to de-regulate various sectors including trade and foreign investment. While it may be too early to say how good this has been for India, the ultimate test is not high growth rates as making sure that the benefits of growth are shared so that everyone is better off.