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India · Economy & Business · Normal
In which year did India initiate major economic liberalisation reforms, dismantling the Licence Raj and opening the economy to foreign investment?
Answer: 1991 — India's economic liberalisation began in 1991 under Prime Minister P.V. Narasimha Rao and Finance Minister Manmohan Singh, triggered by a balance-of-payments crisis.
- A 1984
- B 1998
- C 1991 ✓
- D 2004
India's economic liberalisation began in 1991 under Prime Minister P.V. Narasimha Rao and Finance Minister Manmohan Singh, triggered by a balance-of-payments crisis.