Economics · Economic Reforms

What were the immediate compounding factors that triggered the severe economic crisis and led to the launch of the New Economic Policy in India in 1991?

Verified Solution4 OptionsUpdated: October 2026👁️1 View

1The Gulf War crisis leading to a spike in oil prices and loss of remittances
2A severe Balance of Payments (BoP) crisis and depletion of foreign exchange reserves
3Both A and B✓
4Neither A nor B

Correct answer

Both A and B

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