Question
The New Economic Policy (1991) was launched in the background of the following economic indicators:
1. India's foreign exchange reserves had fallen to US$1 billion.
2. The fall of the Soviet Union had deprived India of almost a quarter of its export market.
3. There was negative growth in real GDP.
4. Indian rupee had to be devalued by 45 per cent,
1. India's foreign exchange reserves had fallen to US$1 billion.
2. The fall of the Soviet Union had deprived India of almost a quarter of its export market.
3. There was negative growth in real GDP.
4. Indian rupee had to be devalued by 45 per cent,
Answer: Option C
:
C
(c)
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:
C
(c)
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