Economics · New Economic Policy 1991
Which of the following statements are correct regarding the components of the New Economic Policy (NEP) of 1991? I. Stabilization measures under the NEP were long-term measures aimed at improving the efficiency and competitiveness of the economy. II. Structural reforms formed the core of the Liberalization, Privatization, and Globalization (LPG) initiatives. III. Monetary tightening to control inflation and reduction in fiscal deficit were part of the short-term stabilization measures. IV. The abolition of industrial licensing for most industries was implemented as a short-term stabilization measure. Choose the most appropriate answer from the options given below:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1I, II and IV Only
- 2II, III and IV Only
- 3I and III Only
- 4II and III Only✓
Correct answer
II and III Only
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