Question:medium
The process of liberalization started in India in the year :
The process of liberalization started in India in the year :
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The process of liberalization started in India in the year :
Updated On: Jan 15, 2026
- 1989
- 1991
- 1996
- None of these
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The Correct Option is B
Solution and Explanation
India's major economic liberalization reforms, a departure from the "Licence Raj," commenced in 1991 (2) under P.V. Narasimha Rao's government, with Manmohan Singh as Finance Minister, due to a balance of payments crisis. Note: Although some earlier reforms existed, 1991 signals the start of the substantial, systemic change.
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