Question

New Economic Policy was adopted in 2005.

Hint:

The NEP, introduced in 1991, marked a significant shift in India's economic policy, promoting privatization, liberalization, and globalization.

Answer 1

Step 1: Understanding the New Economic Policy.
The New Economic Policy (NEP) was adopted in 1991, not 2005. This policy aimed to liberalize India's economy by reducing government control, promoting foreign investment, and encouraging economic growth through market-driven forces.
Step 2: Conclusion.
The correct year for the adoption of the New Economic Policy is 1991, not 2005.