Question

When was the LPG (Liberalisation, Privatisation, Globalisation) policy adopted in India?

• A. 1990
• B. 1991
• C. 1995
• D. 2001

Hint:

The 1991 LPG reforms opened India’s economy to globalization and liberalized trade and industry.

Answer 1

The Correct Option is B

Step 1: Background.
The LPG reforms were introduced in India in 1991 under Prime Minister P.V. Narasimha Rao and Finance Minister Dr. Manmohan Singh. These reforms were introduced to overcome the balance of payments crisis.
Step 2: Analyzing the options.
(A) 1990: Incorrect — reforms were not yet introduced.
(B) 1991: Correct — the LPG policy was officially adopted this year.
(C) 1995: Too late.
(D) 2001: Incorrect, as reforms were already in place by then.
Step 3: Conclusion.
Thus, the LPG policy was adopted in India in 1991.