Question:
The process of liberalization started in India in the year :
The process of liberalization started in India in the year :
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The process of liberalization started in India in the year :
Updated On: May 1, 2025
- 1989
- 1991
- 1996
- None of these
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The Correct Option is B
Solution and Explanation
ThemajoreconomicliberalizationreformsinIndia, movingawayfromthe”Licence Raj,” were initiated in 1991 (2) by the government of P.V. Narasimha Rao, with Manmohan Singh as Finance Minister, in response to a balance of payments crisis. Rejecting Options: While some minor reforms occurred earlier, 1991 marks the beginning of the significant, sys temic shift.
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