alleryThe 1991 economic reforms were a reaction to which looming problem?
ALooming payments crisis
BCyclone devastation
CA global recession
DNuclear sanctions
Answer & Solution
Correct answer: A. Looming payments crisis
1. The reforms were a reaction to an impending balance of payment crisis.
2. The Rao administration privatised large loss-making corporations.
3. Nuclear sanctions came after the 1998 tests, so they cannot be the cause.
_Source: Wikipedia, History of India (1947–present), Economic reforms_
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