In which year did Dr. Manmohan Singh introduce liberalization reforms to address the Balance of Payments crisis?

A)
1991
B)
1993
C)
1995
D)
1996

Correct Answer :   1991


* The liberalization reforms of 1991, spearheaded by Dr. Manmohan Singh as Finance Minister, marked a turning point in India's economic history.

* These measures, including deregulation of industries and FDI liberalization, addressed the Balance of Payments crisis and transitioned India towards a market-driven economy.

* The reforms laid the groundwork for sustained GDP growth, global economic integration, and current policies like GST and digital infrastructure initiatives, making 1991 a landmark year in India's economic development.

Published On : December 30, 2024