Question

The New Economic Policy was adopted by India in:

• A. 1991
• B. 1995
• C. 1998
• D. 1999

Hint:

Recall the year of India's 1991 economic liberalisation reforms.

Answer 1

The Correct Option is A

Step 1: Understanding the question:
The question asks for the year India adopted its New Economic Policy of liberalisation, privatisation and globalisation (LPG reforms).

Step 2: Key fact:
Facing a severe balance-of-payments crisis, India adopted the New Economic Policy in July 1991 under Prime Minister P. V. Narasimha Rao's government, with Dr. Manmohan Singh as Finance Minister, opening the economy to greater market competition and foreign investment.

Step 3: Why other options are wrong:
1995, 1998 and 1999 are later years unconnected with the initial adoption of these reforms.

Final Answer:
1991 (option i).