How did India overcome the foreign currency crisis?

By importing goods at higher prices

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By introducing a new economic policy

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By discouraging foreign trade

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By imposing trade barriers

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Solution

The correct option is B By introducing a new economic policy
India tried to overcome foreign currency crisis by introducing a new economic policy in 1991. This policy resulted in liberalisation, privatisation, and globalisation of the Indian economy. India promoted foreign trade to strengthen economic development.

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