Find Out Which Is Not the Correct Reason for the Need for Economic Reforms in India

a) Poor performance of public sector

b) Inflation

c) Surplus of Balance of Payment

d) The huge burden of debt

Answer: c. Surplus of Balance of Payment

India was unable to earn foreign exchange from exports due to a lack of competitiveness of Indian made products, which resulted in a deficit in Balance of Payments ( BoP).

These, along with the poor performance of PSUs, high debt burden and high level of inflation necessitated the need for economic reforms in India.

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