Who among the following was the Prime Minister when the Globalisation Policy as part of the ‘New Economic Policy’ was introduced?

Correct option is B

The correct answer is (B) P.V. Narasimha Rao. P.V. Narasimha Rao was the Prime Minister of India when the 'New Economic Policy' was introduced in 1991, which included policies of liberalization, privatization, and globalization (LPG). This policy was aimed at opening up the Indian economy to the global market, reducing government control over industries, and encouraging foreign investment. Under his leadership, Dr. Manmohan Singh, the then Finance Minister, played a significant role in implementing these reforms, which transformed India’s economic landscape and set the country on a path of growth and development.
Information Booster:

● The New Economic Policy was introduced in 1991 to address India’s economic crisis.

● It involved Liberalization, Privatization, and Globalization (LPG).

● P.V. Narasimha Rao is often credited with pioneering economic reforms in India.

● Dr. Manmohan Singh, as Finance Minister, was instrumental in executing the policy.

● The policy shifted India’s economy from a closed to a more open and competitive market.

● These reforms paved the way for foreign investments and economic growth.