Economics · Economic Reforms of 1991

What was the main core emphasis of fiscal structural reforms undertaken under India's 1991 Economic Stabilization Program?

Verified Solution4 OptionsUpdated: October 2026👁️1 View

1Reducing non-developmental subsidies, rationalizing public expenditure, and improving fiscal efficiency✓
2Drastically reducing overall foreign investment dependence in all core sectors
3Rapidly increasing government expenditure to artificially stimulate domestic consumer demand
4Complete nationalization of private industries to maximize state revenue

Correct answer

Reducing non-developmental subsidies, rationalizing public expenditure, and improving fiscal efficiency

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