Home › UP Board Class 10 › Social Science › c10globalisation › The 1991 economic reforms in India are commonly …
The 1991 economic reforms in India are commonly known as the LPG reforms, where LPG stands for:
ALocal, Public, Government reforms in industries
BLiberalisation, Privatisation, Globalisation reforms
CLand, Power, Gold redistribution programmes
DLoans, Pensions, Grants for the poor sectors
Answer & Solution
Correct answer: B. Liberalisation, Privatisation, Globalisation reforms
LPG = Liberalisation (lower tariffs, fewer barriers), Privatisation (selling PSU stakes), Globalisation (integrating with world markets). Launched in 1991 by P V Narasimha Rao + Manmohan Singh.
Related questions
WTO rules have forced which group to remove trade barriers?Which group has unfairly retained trade barriers?How many countries are members of the WTO?At whose initiative was the WTO started?Which organisation aims to liberalise international trade?Removing barriers set by the government is known as:The government expected competition to improve producers':Far-reaching changes in Indian policy started around: