GK
INDIAN ECONOMY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Janata Party Govt. (1977)
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Indira Gandhi Govt. (1980)
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Rajiv Gandhi Govt. (1985)
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P.V. Narasimha Rao Govt. (1990)
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Detailed explanation-1: -The first economic reforms were introduced under the PV Narsimha Rao Government (1990) wherein the economy was opened for trade with other countries. Policy of liberalization, privatization and globalization was gradually implemented.
Detailed explanation-2: -Though economic liberalization in India can be traced back to the late 1970s, economic reforms began in earnest only in July 1991.
Detailed explanation-3: -India’s Prime Minister, when the New Economic Policy (NEP) was introduced was P V Narasimha Rao and the Finance Minister was Dr. Manmohan Singh.
Detailed explanation-4: -Pamulaparthi Venkata Narasimha Rao (28 June 1921 – 23 December 2004), popularly known as P. V. Narasimha Rao, was an Indian lawyer, statesman and politician who served as the 9th prime minister of India from 1991 to 1996. He is known for introducing various liberal reforms to India’s economy.