The LPG reforms of 1991 marked a major shift in India's economic policy, moving away from a largely socialist framework towards a more market- oriented approach.
The LPG model of development was introduced in India in the year
Asked in WBCS Main Paper 5 2023 · Topic: Nature of Indian Economy (Evolution from Planned to Market-Oriented Economy)
More Economic Development questions
- Consider the following statements : (A) Disinvestment has been the main route of Privatization in the New Economic Policy (1991). (B) The main objective of disinvestment was to increase financial discipline and help in modernization. Choose the correct option:
- Who was the first economist to have coined the terms ‘Micro Economics’ and ‘Macro Economics’ ?
- Who wrote the book "Indian Economic Crisis"?
- “Privatization is the process that leads to government dominance in the economic activities of a nation.” Whose statement is this?
- Which factor can be highly supportive in achieving economic growth rate of 8% or more in the near future in India ?
- Given below are two statements one is labelled as Assertion (A) and other as Reason (R): Statement-I (Assertion A): The government faces a tough time tackling the bottleneck inflation. Statement-II (Reason R): The situation is due to deficiencies existing in the economy such as supply bottleneck and inefficient distribution. Select the correct answer from the codes given below.
- Which one is not a necessary condition for competitiveness of a firm ?
- Competitive advantage of a firm does not imply