Q1. In which year did the Government of India launch the New Economic Policy? Choose the most appropriate option from below.
A 1992
B 1991 Correct
C 1990
D 1993
Explanation
India's New Economic Policy began in 1991, during a severe balance-of-payments crisis. The policy package moved the economy towards liberalisation, privatisation and globalisation, and it was associated with reforms announced under the government led by P. V. Narasimha Rao, with Manmohan Singh as Finance Minister. The year 1990 came before the reform package was launched. The year 1992 saw follow-up reforms, not the launch year. The year 1993 was also a later phase of reform implementation, so it does not answer the question.