What Were the Causes of the Economic Crisis Class 12?

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Solution

Economic crisis of 1991 was a result of the inappropriate management of policies by the previous governments that led to high fiscal deficit, inflation level reaching double digits, high balance of payments deficit, reduction in foreign exchange reserves and a slowing economy due to non-performing PSU (public sector units).
Also read:
Economic Reforms
MCQs on Liberalisation
MCQs on Globalisation

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