Economics · Economy
What major economic policy shift did Dr. Manmohan Singh introduce in his historic 1991 Union Budget to address the balance of payments crisis?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Tightening of industrial license controls and import restrictions
- 2Nationalisation of major heavy industries
- 3Liberalisation and opening up of the Indian economy✓
- 4Increase in government subsidies and public expenditure
Correct answer
Liberalisation and opening up of the Indian economy
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