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Question
In which year the new Industrial Policy was announced?
In which year the new Industrial Policy was announced?
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Solution
The correct option is C 1991
After independence, India adopted the mixed economy principle, but a high stress on the Public sector was given. The government could not manage the debt and inflation and hence we adopted the LPG i.e. Liberalization, Privatization, and Globalization under the new industrial policy in 1991.
After independence, India adopted the mixed economy principle, but a high stress on the Public sector was given. The government could not manage the debt and inflation and hence we adopted the LPG i.e. Liberalization, Privatization, and Globalization under the new industrial policy in 1991.
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