Economic liberalisation in India began in which year?
Answer and explanation
Correct answer: 1991 CE
India’s major economic liberalisation began in 1991 through the New Economic Policy introduced during a serious balance-of-payments crisis. The reforms changed the earlier pattern of extensive controls by encouraging greater openness, private-sector participation, competition, and links with the global economy. Important measures included reducing some industrial licensing requirements, changing trade rules, and beginning disinvestment and financial reforms. The process continued over later years, but 1991 is the key starting year used in school history and economics.
Option B, 1991 CE, is correct. The other options do not identify the beginning of the New Economic Policy. The question is about the start of the major reform phase, not about every later step or a single amendment. Therefore, the best reasoning is to connect “economic liberalisation in India” with the 1991 reforms and the economic crisis of that period. This date should not be confused with the beginning of independence or with unrelated political events in the listed years.
Frequently asked questions
What is the correct answer to this question?
1991 CE
Why is this the correct answer?
India’s major economic liberalisation began in 1991 through the New Economic Policy introduced during a serious balance-of-payments crisis. The reforms changed the earlier pattern of extensive controls by encouraging greater openness, private-sector participation, competition, and links with the global economy. Important measures included reducing some industrial licensing requirements, changing trade rules, and beginning disinvestment and financial reforms. The process continued over later years, but 1991 is the key starting year used in school history and economics.
Option B, 1991 CE, is correct. The other options do not identify the beginning of the New Economic Policy. The question is about the start of the major reform phase, not about every later step or a single amendment. Therefore, the best reasoning is to connect “economic liberalisation in India” with the 1991 reforms and the economic crisis of that period. This date should not be confused with the beginning of independence or with unrelated political events in the listed years.
Which subject and chapter does this question cover?
This is a Class 10 General Knowledge question. Chapter: Indian History. Topic: Important Dates in Indian History.
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