Economics · Economy
What was one significant factor that contributed to rapid economic growth in India during the late 20th century?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Increased investment in public sector units without policy changes.
- 2A significant increase in foreign aid specifically for technology development.
- 3A decline in agricultural productivity leading to a boosted industrial sector.
- 4The liberalization of its economy and reforms initiated by Prime Minister P.V. Narasimha Rao and Finance Minister Manmohan Singh.✓
Correct answer
The liberalization of its economy and reforms initiated by Prime Minister P.V. Narasimha Rao and Finance Minister Manmohan Singh.
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