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Russia's Development Model

Which one of ...

Question

Which one of the following economists proposed the LPG model of economic development in India?

A

Dr C Rangarajan

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B

Dr Montek Singh Ahluwalia

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C

Dr Amartya Sen

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D

Dr Manmohan Singh

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Solution

The correct option is D Dr Manmohan Singh
Dr Manmohan Singh was the finance minister in the Narasimha Rao government and he proposed the opening of economy for trade. This ushered in an era of liberalisation, privatisation and globalisation. The focus shifted to encouraging exports and imports and maintain optimum current account deficit.

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