Question

The main objective of the New Economic Policy (NEP) of India (1991)Which of the below statements are not correct ? 

1. To bring down poverty and unemployment
2. To bring down the rate of inflation and remove imbalances in payment.
3. To move towards a higher economic growth rate and build sufficient foreign exchangereserves.
4. To plunge the Indian economy into the arena of Globalization and to give it a newthrust on market orientation.

• A. i only
• B. ii, iii
• C. iii only
• D. All

Answer 1

Answer:

A. i only

Key Components of the 1991 Reforms

• Liberalization: Ending the "License Raj" and reducing government control over industries.

• Privatization: Reducing the role of the public sector and encouraging private ownership.

• Globalization: Opening up the economy to foreign trade and investment