Correct option is B
The Correct Answer is: (b) Inflation
Explanation:
One of the primary goals of the New Economic Policy (NEP) of 1991, introduced by the Government of India under Prime Minister P.V. Narasimha Rao and Finance Minister Dr. Manmohan Singh,
One of the primary goals of the New Economic Policy (NEP) of 1991, introduced by the Government of India under Prime Minister P.V. Narasimha Rao and Finance Minister Dr. Manmohan Singh,
was to control inflation. India was facing a severe balance of payments crisis.
Information Booster:
• It led to the dismantling of the License Raj and introduction of market-oriented policies.
• One key objective was to reduce inflation, which had reached double-digit levels.
• It also aimed to reduce government control, and attract foreign investment.
• Introduced the concept of LPG – Liberalization, Privatization, Globalization.
• IMF and World Bank supported.
• It led to the dismantling of the License Raj and introduction of market-oriented policies.
• One key objective was to reduce inflation, which had reached double-digit levels.
• It also aimed to reduce government control, and attract foreign investment.
• Introduced the concept of LPG – Liberalization, Privatization, Globalization.
• IMF and World Bank supported.