In which year did economic reforms begin in India, paving the way for globalization?
In which year did economic reforms begin in India, paving the way for globalization?
भारत में आर्थिक सुधारों की शुरुआत किस वर्ष हुई, जिसने वैश्वीकरण का मार्ग प्रशस्त किया?
Detailed Solution & Logic
1991
Explanation
Economic reforms in India began in 1991, marking the start of liberalization, privatization, and globalization (LPG reforms).
- Initiated under Prime Minister P. V. Narasimha Rao
- Led by Finance Minister Manmohan Singh
- Triggered by a severe balance of payments crisis
Key changes:
- Reduction in government control over industries
- Opening up to foreign investment (FDI)
- De-licensing of many sectors
व्याख्या
भारत में आर्थिक सुधारों की शुरुआत 1991 में हुई, जिसे उदारीकरण, निजीकरण और वैश्वीकरण (LPG सुधार) कहा जाता है।
- इसकी शुरुआत प्रधानमंत्री पी. वी. नरसिम्हा राव के नेतृत्व में हुई
- वित्त मंत्री मनमोहन सिंह ने इसे लागू किया
- इसका मुख्य कारण भुगतान संतुलन संकट (Balance of Payments Crisis) था
मुख्य बदलाव:
- उद्योगों पर सरकारी नियंत्रण कम हुआ
- विदेशी निवेश को बढ़ावा मिला
- लाइसेंस प्रणाली में ढील दी गई
⭐ Extra Facts (अतिरिक्त तथ्य)
- 1991 reforms shifted India from a closed economy to an open economy.
- The International Monetary Fund and World Bank supported India during the crisis.
- These reforms led to rapid growth in sectors like IT and services.
Final Answer:
✔️ 1991
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