Economic reform measures in India were formally introduced in ________.​

Correct option is B

Prime Minister P.V. Narsimha Rao and Finance Minister Manmohan Singh began the economic reform process in July 1991.

•    It was termed as 'liberalization' by the media.
•    The goal of the reforms was to make the economy more market and service-oriented and expand the role of private and foreign investment.

There was significant opposition to the reforms, but both Rao and Singh continued the reforms.